Astronics Corporation $ATRO is 325 Capital LLC's 2nd Largest Position

Key Points

• 325 Capital LLC has reduced its stake in Astronics Corporation by 2.4%, making it the second largest position in their portfolio at approximately 17.0% or $41 million.
• Astronics has seen significant interest from hedge funds, with Signaturefd LLC increasing its ownership by 88.5% and CWM LLC by 192.2% during the same quarter.
• Despite a 3.9% dip in stock price, analysts maintain a consensus rating of "Strong Buy" with an average price target of $49.00.

325 Capital LLC lowered its position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,698,916 shares of the aerospace company's stock after selling 42,094 shares during the quarter. Astronics comprises about 17.0% of 325 Capital LLC's portfolio, making the stock its 2nd largest position. 325 Capital LLC owned about 4.82% of Astronics worth $41,063,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Signaturefd LLC raised its stake in shares of Astronics by 88.5% in 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 last quarter. CWM LLC raised its position in 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 last quarter. Public Employees Retirement System of Ohio lifted 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 valued at $66,000 after acquiring an additional 2,600 shares during the period. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 5,982 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of Astronics in the fourth quarter worth $172,000. 56.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Astronics Stock Down 3.9%

ATRO opened at $36.37 on Tuesday. The company has a fifty day moving average of $34.25 and a two-hundred day moving average of $28.84. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -303.06 and a beta of 1.69. Astronics Corporation has a fifty-two week low of $14.13 and a fifty-two week high of $38.26. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04.

Astronics (NASDAQ:ATRO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $208.29 million. On average, research analysts expect that Astronics Corporation will post 0.82 earnings per share 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.

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