Astronics Co. (NASDAQ:ATRO) Shares Acquired by D. E. Shaw & Co. Inc.

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

Several other hedge funds have also recently modified their holdings of the stock. Cubist Systematic Strategies LLC lifted its position in Astronics by 95.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 158,211 shares of the aerospace company's stock worth $2,525,000 after buying an additional 77,301 shares in the last quarter. Bank of America Corp DE boosted its stake in Astronics by 48.2% during the fourth quarter. Bank of America Corp DE now owns 35,129 shares of the aerospace company's stock worth $561,000 after buying an additional 11,427 shares during the period. Ameriprise Financial Inc. increased its position in shares of Astronics by 493.7% during the fourth quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company's stock valued at $5,798,000 after acquiring an additional 302,092 shares during the last quarter. Algert Global LLC increased its position in shares of Astronics by 6.5% during the fourth quarter. Algert Global LLC now owns 59,741 shares of the aerospace company's stock valued at $953,000 after acquiring an additional 3,669 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in Astronics in the 4th quarter valued at approximately $172,000. Institutional investors and hedge funds own 56.68% of the company's stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Robert S. Keane sold 77,099 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $155,794.30. This represents a 92.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.83% of the company's stock.

Astronics Stock Down 2.4%

Shares of ATRO traded down $0.73 during midday trading on Thursday, reaching $29.86. The stock had a trading volume of 311,114 shares, compared to its average volume of 318,363. Astronics Co. has a 1-year low of $14.13 and a 1-year high of $31.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -157.15 and a beta of 1.44. The company's fifty day simple moving average is $24.59 and its two-hundred day simple moving average is $20.19.

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

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.