Sherbrooke Park Advisers LLC Buys Shares of 16,875 Astronics Co. (NASDAQ:ATRO)

Sherbrooke Park Advisers LLC purchased a new stake in shares of Astronics Co. (NASDAQ:ATRO - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 16,875 shares of the aerospace company's stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Royce & Associates LP increased its stake in shares of Astronics by 18.7% during the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock worth $18,360,000 after purchasing an additional 181,619 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Astronics by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 998,506 shares of the aerospace company's stock valued at $15,936,000 after buying an additional 58,149 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in shares of Astronics by 58.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company's stock valued at $14,069,000 after buying an additional 325,904 shares during the period. Millennium Management LLC grew its stake in shares of Astronics by 881.6% during the 4th quarter. Millennium Management LLC now owns 414,823 shares of the aerospace company's stock valued at $6,621,000 after buying an additional 372,565 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Astronics by 493.7% during the 4th quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company's stock valued at $5,798,000 after buying an additional 302,092 shares during the period. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ATRO. Truist Financial reduced their target price on shares of Astronics from $23.00 to $21.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Wall Street Zen cut Astronics from a "strong-buy" rating to a "buy" rating in a research note on Wednesday.

Astronics Stock Up 1.1%

Shares of NASDAQ ATRO traded up $0.33 during midday trading on Friday, reaching $30.19. 229,313 shares of the company's stock were exchanged, compared to its average volume of 320,450. Astronics Co. has a 52-week low of $14.13 and a 52-week high of $31.15. The stock has a market capitalization of $1.07 billion, a PE ratio of -158.89 and a beta of 1.44. 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 business's fifty day moving average price is $24.79 and its two-hundred day moving average price is $20.36.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.19. The firm had revenue of $205.94 million during the quarter, compared to analyst estimates of $192.53 million. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. Analysts forecast that Astronics Co. will post 0.82 EPS for the current year.

Insider Transactions at Astronics

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the company'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 value of $1,892,780.45. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.83% of the company's stock.

Astronics Profile

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.