State of Wyoming Raises Stake in Astronics Corporation $ATRO

Key Points

• The State of Wyoming increased its stake in Astronics Corporation by 12.9%, owning approximately 0.17% of the company with a valuation of $1.415 million after acquiring additional shares.
• Astronics reported earnings of $0.38 per share in its latest quarterly results, exceeding the estimated $0.33, while total revenue was $204.68 million, slightly below expectations.
• Analysts have a consensus rating of "Strong Buy" for Astronics stock, with a target price set at $49.00, reflecting positive outlook amidst institutional buying activity.

State of Wyoming raised its stake in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,541 shares of the aerospace company's stock after buying an additional 6,699 shares during the period. State of Wyoming owned 0.17% of Astronics worth $1,415,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ATRO. Signaturefd LLC lifted its stake in Astronics by 88.5% during the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock worth $35,000 after purchasing an additional 679 shares during the period. CWM LLC grew its position in shares of Astronics by 192.2% during the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock worth $63,000 after buying an additional 1,705 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Astronics by 167.1% in the fourth 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 during the period. GAMMA Investing LLC increased its position in shares of Astronics by 16,616.7% in the 1st quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company's stock valued at $145,000 after buying an additional 5,982 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new position in Astronics during the fourth quarter worth about $172,000. Institutional investors and hedge funds own 56.68% of the company's stock.

Astronics Trading Up 1.3%

Shares of Astronics stock traded up $0.49 on Wednesday, hitting $37.00. 112,298 shares of the company's stock traded hands, compared to its average volume of 530,427. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -308.31 and a beta of 1.69. Astronics Corporation has a one year low of $14.13 and a one year high of $38.26. The company has a fifty day moving average of $34.32 and a two-hundred day moving average of $28.89. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.04 and a quick ratio of 1.63.

Astronics (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. The business had revenue of $204.68 million during the quarter, compared to the consensus estimate of $208.29 million. As a group, sell-side analysts expect that Astronics Corporation will post 0.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

ATRO has been the topic of several recent analyst reports. Zacks Research upgraded Astronics to a "strong-buy" rating in a report on Friday, August 8th. Truist Financial raised Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target for the company in a research report on Friday, July 11th. Finally, Wall Street Zen downgraded shares of Astronics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, Astronics presently has an average rating of "Strong Buy" and a consensus target price of $49.00.

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.