Astronics Corporation $ATRO Shares Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly increased its stake in Astronics Corporation by an astounding 103,250% in the first quarter, owning approximately 28,938 shares worth $699,000.
• Astronics Corporation reported $0.38 EPS for the most recent quarter, exceeding analyst expectations of $0.33, and had total revenue of $204.68 million.
• Analysts' consensus rating for Astronics is a Strong Buy with a target price of $49.00, indicating positive sentiment for potential growth.

Quantbot Technologies LP lifted its stake in Astronics Corporation (NASDAQ:ATRO - Free Report) by 103,250.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,938 shares of the aerospace company's stock after buying an additional 28,910 shares during the period. Quantbot Technologies LP owned approximately 0.08% of Astronics worth $699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ATRO. Wells Fargo & Company MN boosted its position in shares of Astronics by 26.2% in the fourth quarter. Wells Fargo & Company MN now owns 18,209 shares of the aerospace company's stock worth $291,000 after buying an additional 3,775 shares during the period. Legal & General Group Plc boosted its holdings in Astronics by 2.7% in the fourth quarter. Legal & General Group Plc now owns 68,426 shares of the aerospace company's stock valued at $1,092,000 after purchasing an additional 1,770 shares during the last quarter. Barclays PLC grew its stake in Astronics by 16.9% during the 4th quarter. Barclays PLC now owns 52,960 shares of the aerospace company's stock valued at $846,000 after purchasing an additional 7,647 shares in the last quarter. Marshall Wace LLP increased its holdings in Astronics by 259.8% during the 4th quarter. Marshall Wace LLP now owns 145,626 shares of the aerospace company's stock worth $2,324,000 after purchasing an additional 105,157 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Astronics in the 4th quarter valued at approximately $179,000. Hedge funds and other institutional investors own 56.68% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ATRO. Truist Financial raised shares of 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. Zacks Research upgraded shares of Astronics to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Wall Street Zen lowered shares of Astronics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, Astronics has a consensus rating of "Strong Buy" and a consensus price target of $49.00.

Astronics Stock Down 3.9%

NASDAQ ATRO traded down $1.46 on Friday, hitting $36.37. 836,587 shares of the stock traded hands, compared to its average volume of 731,948. The stock has a 50-day moving average of $34.19 and a 200 day moving average of $28.64. Astronics Corporation has a twelve month low of $14.13 and a twelve month high of $38.26. The company has a market capitalization of $1.29 billion, a P/E ratio of -303.06 and a beta of 1.64. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings data 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 positive return on equity of 22.89% and a negative net margin of 0.45%.The firm had revenue of $204.68 million for the quarter, compared to analysts' expectations of $208.29 million. As a group, analysts expect that Astronics Corporation will post 0.82 earnings per share for the current fiscal 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.