D. E. Shaw & Co. Inc. Acquires 153,839 Shares of Astronics Co. (NASDAQ:ATRO)

D. E. Shaw & Co. Inc. increased its stake in Astronics Co. (NASDAQ:ATRO - Free Report) by 310.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,341 shares of the aerospace company's stock after acquiring an additional 153,839 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.58% of Astronics worth $3,245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Astronics by 108.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company's stock valued at $1,811,000 after purchasing an additional 48,328 shares during the period. SG Americas Securities LLC boosted its stake in Astronics by 25.1% during the fourth quarter. SG Americas Securities LLC now owns 14,250 shares of the aerospace company's stock valued at $227,000 after buying an additional 2,863 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Astronics during the fourth quarter worth about $135,000. Wealthspire Advisors LLC raised its position in Astronics by 42.7% in the fourth quarter. Wealthspire Advisors LLC now owns 21,789 shares of the aerospace company's stock worth $348,000 after acquiring an additional 6,523 shares in the last quarter. Finally, Skylands Capital LLC acquired a new stake in Astronics in the 4th quarter valued at about $1,622,000. Institutional investors own 56.68% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Truist Financial dropped 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 report on Wednesday.

Astronics Trading Up 1.1%

Shares of Astronics stock traded up $0.33 on Friday, reaching $30.19. 229,313 shares of the company were exchanged, compared to its average volume of 320,450. Astronics Co. has a fifty-two week low of $14.13 and a fifty-two week high of $31.15. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -158.89 and a beta of 1.44. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average price of $24.79 and a 200-day moving average price of $20.35.

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

Insider Activity 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 transaction of $1,892,780.45. Following the completion of the sale, the director now owns 6,346 shares of the company's stock, valued at $155,794.30. This represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.83% of the stock is currently owned by company insiders.

Astronics Company 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.