Capital International Investors Raises Stake in Astronics Corporation $ATRO

Capital International Investors boosted its holdings in shares of Astronics Corporation (NASDAQ:ATRO) by 31.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,849,886 shares of the aerospace company’s stock after purchasing an additional 442,886 shares during the period. Capital International Investors owned approximately 5.19% of Astronics worth $100,338,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State of Wyoming grew its position in Astronics by 102.1% during the 4th quarter. State of Wyoming now owns 8,482 shares of the aerospace company’s stock worth $460,000 after purchasing an additional 4,286 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Astronics by 50.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 314,670 shares of the aerospace company’s stock worth $17,068,000 after purchasing an additional 104,842 shares during the last quarter. Hazlett Burt & Watson Inc. grew its position in Astronics by 24.5% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company’s stock worth $83,000 after purchasing an additional 300 shares during the last quarter. Intech Investment Management LLC grew its position in Astronics by 46.0% during the 4th quarter. Intech Investment Management LLC now owns 15,402 shares of the aerospace company’s stock worth $835,000 after purchasing an additional 4,854 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Astronics by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 756,386 shares of the aerospace company’s stock worth $41,033,000 after purchasing an additional 7,968 shares during the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Stock Down 0.5%

Shares of NASDAQ:ATRO opened at $84.32 on Tuesday. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 71.46 and a beta of 1.14. The firm’s 50-day simple moving average is $76.86 and its 200-day simple moving average is $69.81. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. Astronics Corporation has a fifty-two week low of $27.27 and a fifty-two week high of $90.65.

Astronics’s stock is scheduled to split on the morning of Monday, June 15th. The 6-5 split was recently announced. The newly issued shares will be payable to shareholders after the market closes on Sunday, June 14th.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data 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 analysts’ expectations of $225.52 million. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities research analysts predict that Astronics Corporation will post 2.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ATRO has been the topic of several analyst reports. Truist Financial raised shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. TD Cowen lifted their target price on shares of Astronics from $85.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Zacks Research downgraded shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

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.