Corient Private Wealth LLC Takes $568,000 Position in Astronics Corporation $ATRO

Corient Private Wealth LLC acquired a new stake in shares of Astronics Corporation (NASDAQ:ATRO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,478 shares of the aerospace company’s stock, valued at approximately $568,000.

A number of other hedge funds also recently bought and sold shares of the company. Quarry LP boosted its stake in Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after buying an additional 143 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Astronics by 19.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 188 shares during the last quarter. Allworth Financial LP raised its stake in shares of Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 192 shares in the last quarter. US Bancorp DE raised its stake in shares of Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 281 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Astronics by 24.5% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company’s stock worth $83,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

Analyst Ratings Changes

ATRO has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. TD Cowen lifted their target price on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Zacks Research downgraded shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st. Finally, Truist Financial raised Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.17.

Astronics Stock Performance

Shares of ATRO stock opened at $70.83 on Friday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. Astronics Corporation has a fifty-two week low of $22.73 and a fifty-two week high of $88.72. The stock has a 50 day moving average price of $71.11 and a two-hundred day moving average price of $62.78. The company has a market capitalization of $3.05 billion, a P/E ratio of 72.03 and a beta of 1.13.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The firm had revenue of $230.62 million during the quarter, compared to analyst estimates of $225.52 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. Analysts expect that Astronics Corporation will post 2.23 earnings per share for the current year.

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.