Point72 Asset Management L.P. Buys 19,744 Shares of Astronics Co. (NASDAQ:ATRO)

Point72 Asset Management L.P. boosted its stake in shares of Astronics Co. (NASDAQ:ATRO - Free Report) by 368.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,100 shares of the aerospace company's stock after buying an additional 19,744 shares during the period. Point72 Asset Management L.P. owned approximately 0.07% of Astronics worth $401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ATRO. AlphaQuest LLC boosted its position in shares of Astronics by 355.5% during the fourth 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 last quarter. KLP Kapitalforvaltning AS purchased a new position in Astronics in the 4th quarter worth about $73,000. Arcadia Investment Management Corp MI purchased a new position in Astronics in the 4th quarter worth about $135,000. Freestone Grove Partners LP purchased a new position in Astronics in the 4th quarter worth about $172,000. Finally, Victory Capital Management Inc. purchased a new position in Astronics in the 4th quarter worth about $178,000. Institutional investors own 56.68% of the company's stock.

Insider Buying and Selling

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the business's stock in a transaction dated 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 approximately $155,794.30. The trade was a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.39% of the stock is currently owned by corporate insiders.

Astronics Price Performance

Shares of ATRO remained flat at $31.72 during trading hours on Wednesday. The company had a trading volume of 255,033 shares, compared to its average volume of 457,045. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. Astronics Co. has a one year low of $14.13 and a one year high of $31.80. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -167.30 and a beta of 1.44. The firm has a 50 day moving average price of $25.03 and a two-hundred day moving average price of $20.53.

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

Analysts Set New Price Targets

ATRO has been the subject of a number of recent analyst reports. Truist Financial decreased their target price on Astronics from $23.00 to $21.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Wall Street Zen lowered Astronics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st.

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.