Dynamic Technology Lab Private Ltd Buys New Position in Astronics Co. (NASDAQ:ATRO)

Dynamic Technology Lab Private Ltd purchased a new position in Astronics Co. (NASDAQ:ATRO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,469 shares of the aerospace company's stock, valued at approximately $805,000. Dynamic Technology Lab Private Ltd owned 0.14% of Astronics at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. AlphaQuest LLC grew its stake in shares of Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company's stock valued at $57,000 after buying an additional 2,791 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Astronics in the fourth quarter valued at approximately $73,000. Point72 Asset Management L.P. increased its holdings in shares of Astronics by 337.9% during the third quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company's stock valued at $104,000 after acquiring an additional 4,133 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Astronics during the fourth quarter worth approximately $135,000. Finally, Victory Capital Management Inc. bought a new position in shares of Astronics in the 4th quarter worth $178,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on ATRO. Truist Financial boosted their price target on shares of Astronics from $17.00 to $23.00 and gave the company a "hold" rating in a research note on Wednesday, March 5th. StockNews.com upgraded shares of Astronics from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th.

Insider Activity

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares in the company, valued at $155,794.30. This represents a 92.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.86% of the stock is owned by company insiders.

Astronics Stock Performance

NASDAQ ATRO traded down $0.05 during trading on Friday, hitting $22.13. 96,749 shares of the company's stock traded hands, compared to its average volume of 275,691. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The stock has a market capitalization of $780.57 million, a price-to-earnings ratio of -115.60 and a beta of 1.26. Astronics Co. has a 12-month low of $14.13 and a 12-month high of $26.63. The business has a 50 day moving average of $22.11 and a 200-day moving average of $19.07.

Astronics (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, beating 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 company had revenue of $208.54 million for the quarter, compared to analyst estimates of $194.91 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, equities research analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

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.