Astronics Co. (NASDAQ:ATRO) is Next Century Growth Investors LLC's 8th Largest Position

Next Century Growth Investors LLC decreased its position in shares of Astronics Co. (NASDAQ:ATRO - Free Report) by 32.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,537,925 shares of the aerospace company's stock after selling 750,293 shares during the quarter. Astronics accounts for 1.8% of Next Century Growth Investors LLC's portfolio, making the stock its 8th largest position. Next Century Growth Investors LLC owned about 4.36% of Astronics worth $24,545,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ATRO. Neuberger Berman Group LLC raised its holdings in shares of Astronics by 16.7% during the fourth quarter. Neuberger Berman Group LLC now owns 35,000 shares of the aerospace company's stock valued at $559,000 after purchasing an additional 5,000 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Astronics by 139.3% in the fourth quarter. Renaissance Technologies LLC now owns 286,700 shares of the aerospace company's stock valued at $4,576,000 after acquiring an additional 166,900 shares during the period. Legal & General Group Plc boosted its position in Astronics by 2.7% in the fourth quarter. Legal & General Group Plc now owns 68,426 shares of the aerospace company's stock worth $1,092,000 after purchasing an additional 1,770 shares during the last quarter. Polymer Capital Management US LLC bought a new position in shares of Astronics in the 4th quarter worth approximately $190,000. Finally, Federated Hermes Inc. boosted its holdings in shares of Astronics by 4.7% in the fourth quarter. Federated Hermes Inc. now owns 35,844 shares of the aerospace company's stock worth $572,000 after buying an additional 1,612 shares during the last quarter. Institutional investors own 56.68% of the company's stock.

Astronics Trading Down 2.3 %

Shares of NASDAQ:ATRO traded down $0.51 during trading on Thursday, reaching $22.28. The company's stock had a trading volume of 184,027 shares, compared to its average volume of 281,549. The firm's 50 day simple moving average is $22.44 and its two-hundred day simple moving average is $19.15. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. Astronics Co. has a 12 month low of $14.13 and a 12 month high of $26.63. The stock has a market capitalization of $785.65 million, a PE ratio of -117.11 and a beta of 1.26.

Astronics (NASDAQ:ATRO - Get Free Report) last released its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The firm had revenue of $208.54 million during the quarter, compared to analyst estimates of $194.91 million. During the same quarter last year, the business earned $0.35 EPS. On average, research analysts predict that Astronics Co. will post 0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert S. Keane sold 77,099 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the completion of the sale, the director now directly owns 6,346 shares in the company, valued at approximately $155,794.30. The trade was a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.83% of the company's stock.

Wall Street Analyst Weigh In

ATRO has been the subject of a number of recent research reports. StockNews.com raised shares of Astronics from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Truist Financial cut their price objective on Astronics from $23.00 to $21.00 and set a "hold" rating for the company in a research note on Thursday.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.