Gabelli Funds LLC Has $1.85 Million Stake in Astronics Corporation $ATRO

Gabelli Funds LLC decreased its position in Astronics Corporation (NASDAQ:ATRO) by 17.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,065 shares of the aerospace company’s stock after selling 7,261 shares during the quarter. Gabelli Funds LLC owned 0.10% of Astronics worth $1,848,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ATRO. Capital International Investors bought a new position in shares of Astronics in the 3rd quarter valued at about $64,173,000. Luxor Capital Group LP bought a new stake in shares of Astronics in the third quarter valued at approximately $52,698,000. Millennium Management LLC lifted its stake 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 during the last quarter. SG Capital Management LLC bought a new stake in Astronics during the third quarter worth $11,617,000. Finally, Lazard Asset Management LLC lifted its stake in Astronics by 4,791.1% during the third quarter. Lazard Asset Management LLC now owns 236,140 shares of the aerospace company’s stock worth $10,770,000 after purchasing an additional 231,312 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Stock Up 1.2%

Astronics stock opened at $80.86 on Friday. The firm has a 50 day simple moving average of $72.93 and a 200 day simple moving average of $66.86. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. Astronics Corporation has a 1-year low of $27.27 and a 1-year high of $86.27. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 68.53 and a beta of 1.10.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.55 by $0.04. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. During the same period last year, the firm earned $0.44 EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, analysts predict that Astronics Corporation will post 2.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Finally, Truist Financial raised shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.33.

Astronics Company Profile

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.