BNP Paribas Financial Markets Sells 11,008 Shares of Astronics Corporation $ATRO

BNP Paribas Financial Markets lessened its holdings in shares of Astronics Corporation (NASDAQ:ATRO) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 444,436 shares of the aerospace company’s stock after selling 11,008 shares during the period. BNP Paribas Financial Markets owned 1.25% of Astronics worth $24,106,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ATRO. Capital International Investors bought a new stake in shares of Astronics during the 3rd quarter valued at $64,173,000. Luxor Capital Group LP bought a new stake in shares of Astronics during the 3rd quarter valued at $52,698,000. Millennium Management LLC boosted its holdings in shares of Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after buying an additional 332,133 shares in the last quarter. SG Capital Management LLC bought a new stake in shares of Astronics during the 3rd quarter valued at $11,617,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of Astronics by 4,791.1% during the 3rd quarter. Lazard Asset Management LLC now owns 236,140 shares of the aerospace company’s stock valued at $10,770,000 after buying an additional 231,312 shares in the last quarter. Institutional investors own 56.68% of the company’s stock.

Analyst Upgrades and Downgrades

ATRO has been the topic of a number of research reports. TD Cowen boosted 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. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. Finally, Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.00.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $84.72 on Friday. Astronics Corporation has a fifty-two week low of $27.27 and a fifty-two week high of $90.65. The business has a 50-day simple moving average of $76.47 and a two-hundred day simple moving average of $69.43. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 71.80 and a beta of 1.15.

Shares of Astronics are set to split on the morning of Monday, June 15th. The 6-5 split was recently announced. The newly created shares will be distributed to shareholders after the closing bell on Sunday, June 14th.

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

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.