First Eagle Investment Management LLC Boosts Stock Position in Astronics Corporation $ATRO

First Eagle Investment Management LLC grew its holdings in shares of Astronics Corporation (NASDAQ:ATRO) by 6.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,326 shares of the aerospace company’s stock after buying an additional 14,000 shares during the period. First Eagle Investment Management LLC owned 0.67% of Astronics worth $10,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ATRO. AQR Capital Management LLC lifted its stake in Astronics by 20.4% during the first quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock worth $2,712,000 after purchasing an additional 18,975 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Astronics by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock worth $423,000 after purchasing an additional 1,069 shares in the last quarter. Millennium Management LLC raised its holdings in Astronics by 80.1% during the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after purchasing an additional 332,133 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Astronics by 26.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock worth $5,377,000 after buying an additional 46,054 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Astronics by 22.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock valued at $1,735,000 after buying an additional 13,104 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. TD Cowen started coverage on shares of Astronics in a research note on Wednesday, November 26th. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. CJS Securities raised Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $77.33.

Astronics Stock Down 7.0%

ATRO opened at $75.68 on Wednesday. Astronics Corporation has a 52 week low of $19.51 and a 52 week high of $83.96. The business has a 50 day moving average price of $71.41 and a two-hundred day moving average price of $55.13. The company has a quick ratio of 1.71, a current ratio of 3.10 and a debt-to-equity ratio of 2.39. The company has a market cap of $2.70 billion, a PE ratio of 98.29 and a beta of 1.06.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The business had revenue of $240.07 million for the quarter, compared to analyst estimates of $237.11 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts anticipate that Astronics Corporation will post 0.82 EPS for the current year.

About Astronics

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.