Hsbc Holdings PLC Acquires 142,107 Shares of Astronics Corporation $ATRO

Hsbc Holdings PLC lifted its holdings in shares of Astronics Corporation (NASDAQ:ATRO) by 2,291.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,309 shares of the aerospace company’s stock after purchasing an additional 142,107 shares during the quarter. Hsbc Holdings PLC owned 0.42% of Astronics worth $8,120,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Astronics by 20.4% in the first quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock valued at $2,712,000 after buying an additional 18,975 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 acquiring an additional 1,069 shares during the period. Millennium Management LLC lifted its position in Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after acquiring an additional 332,133 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Astronics by 26.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock valued at $5,377,000 after acquiring an additional 46,054 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 worth $1,735,000 after purchasing an additional 13,104 shares during the period. 56.68% of the stock is owned by institutional investors.

Astronics Stock Down 3.2%

NASDAQ:ATRO opened at $84.32 on Friday. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 85.75 and a beta of 1.15. Astronics Corporation has a twelve month low of $22.73 and a twelve month high of $88.72. The stock’s 50 day moving average price is $69.72 and its two-hundred day moving average price is $61.64. 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 (NASDAQ:ATRO) last released its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.46 by $0.03. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The company had revenue of $230.62 million during the quarter, compared to the consensus estimate of $225.52 million. During the same quarter in the prior year, the firm posted $0.37 EPS. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts expect that Astronics Corporation will post 2.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on ATRO. Truist Financial upgraded 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 research note on Monday, April 20th. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 21st. TD Cowen increased their target price on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Zacks Research downgraded shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Astronics currently has a consensus rating of “Moderate Buy” and an average price target of $74.17.

Astronics 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.