Astronics Corporation $ATRO Shares Sold by Quantbot Technologies LP

by · The Markets Daily

Quantbot Technologies LP trimmed its holdings in shares of Astronics Corporation (NASDAQ:ATRO – Free Report) by 92.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,461 shares of the aerospace company’s stock after selling 67,536 shares during the period. Quantbot Technologies LP’s holdings in Astronics were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Astronics by 3.1% during the third quarter. Brighton Jones LLC now owns 7,085 shares of the aerospace company’s stock worth $323,000 after purchasing an additional 216 shares in the last quarter. Covestor Ltd grew its stake in shares of Astronics by 25.4% in the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock valued at $49,000 after buying an additional 216 shares in the last quarter. US Bancorp DE raised its holdings in shares of Astronics by 41.0% during the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after buying an additional 281 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of Astronics by 13.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the aerospace company’s stock valued at $103,000 after buying an additional 369 shares during the period. Finally, Captrust Financial Advisors lifted its position in Astronics by 2.3% during the 2nd quarter. Captrust Financial Advisors now owns 19,220 shares of the aerospace company’s stock worth $643,000 after acquiring an additional 435 shares in the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ATRO has been the subject of a number of analyst reports. CJS Securities upgraded Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Craig Hallum reaffirmed a “buy” rating on shares of Astronics in a report on Friday, January 9th. Finally, Truist Financial lifted their price target on shares of Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $77.33.

View Our Latest Research Report on Astronics

Astronics Price Performance

ATRO stock opened at $73.15 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 3.10 and a debt-to-equity ratio of 2.39. Astronics Corporation has a 52-week low of $19.89 and a 52-week high of $83.96. The stock’s 50 day moving average is $73.46 and its two-hundred day moving average is $56.56. The company has a market capitalization of $2.61 billion, a PE ratio of 95.00 and a beta of 1.06.

Astronics (NASDAQ:ATRO – Get Free Report) last released its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.63 by $0.12. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The company had revenue of $240.07 million during the quarter, compared to analysts’ expectations of $237.11 million. During the same period in the prior year, the business posted $0.46 EPS. The business’s revenue was up 15.1% on a year-over-year basis. Analysts predict that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

About Astronics

(Free Report)

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.

See Also

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