Envestnet Asset Management Inc. Acquires Shares of 228,424 Astronics Corporation (NASDAQ:ATRO)

Envestnet Asset Management Inc. acquired a new stake in Astronics Corporation (NASDAQ:ATRO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 228,424 shares of the aerospace company's stock, valued at approximately $5,521,000. Envestnet Asset Management Inc. owned approximately 0.65% of Astronics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ATRO. Public Employees Retirement System of Ohio grew its stake in Astronics by 167.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company's stock worth $66,000 after purchasing an additional 2,600 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Astronics during the 4th quarter worth $73,000. GAMMA Investing LLC grew its stake in Astronics by 16,616.7% during the 1st quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company's stock worth $145,000 after purchasing an additional 5,982 shares in the last quarter. Freestone Grove Partners LP acquired a new position in Astronics during the 4th quarter worth $172,000. Finally, First Trust Advisors LP acquired a new position in Astronics during the 4th quarter worth $179,000. 56.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ATRO has been the subject of several analyst reports. Wall Street Zen cut Astronics from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 21st. Truist Financial raised Astronics from a "hold" rating to a "buy" rating and set a $49.00 price objective for the company in a research report on Friday, July 11th.

Astronics Stock Down 0.0%

Shares of NASDAQ:ATRO traded down $0.01 on Friday, hitting $34.49. 320,288 shares of the company's stock were exchanged, compared to its average volume of 631,808. The firm's 50-day moving average is $33.03 and its 200 day moving average is $25.58. The company has a market capitalization of $1.22 billion, a PE ratio of -287.39 and a beta of 1.55. Astronics Corporation has a 1-year low of $14.13 and a 1-year high of $37.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 2.74.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.19. The firm had revenue of $205.94 million during the quarter, compared to analysts' expectations of $192.53 million. Astronics had a positive return on equity of 18.45% and a negative net margin of 0.43%. Sell-side analysts predict that Astronics Corporation will post 0.82 EPS for the current year.

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.