Gabelli Funds LLC Sells 10,000 Shares of Astronics Corporation $ATRO

Key Points

• Gabelli Funds LLC reduced its holdings in Astronics Corporation by 14.9% in the 1st quarter, now owning approximately 57,326 shares worth $1,386,000.
• In contrast, other hedge funds significantly increased their positions, with CWM LLC raising its shares by 192.2% and GAMMA Investing LLC by an astounding 16,616.7% during the same time period.
• Astronics Corporation's stock has seen a rise, currently priced at $36.37, and analysts have an average rating of "Strong Buy" with a target price of $49.00.

Gabelli Funds LLC decreased its holdings in Astronics Corporation (NASDAQ:ATRO - Free Report) by 14.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,326 shares of the aerospace company's stock after selling 10,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.16% of Astronics worth $1,386,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Walleye Capital LLC acquired a new position in shares of Astronics in the 1st quarter valued at $1,404,000. Jump Financial LLC increased its stake in Astronics by 67.8% during the first quarter. Jump Financial LLC now owns 75,874 shares of the aerospace company's stock worth $1,834,000 after acquiring an additional 30,654 shares during the last quarter. Senator Investment Group LP raised its holdings in shares of Astronics by 7.6% in the 1st quarter. Senator Investment Group LP now owns 708,883 shares of the aerospace company's stock worth $17,134,000 after purchasing an additional 50,000 shares during the period. Quantbot Technologies LP raised its holdings in shares of Astronics by 103,250.0% during the 1st quarter. Quantbot Technologies LP now owns 28,938 shares of the aerospace company's stock valued at $699,000 after buying an additional 28,910 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Astronics by 34.0% in the 1st quarter. American Century Companies Inc. now owns 44,739 shares of the aerospace company's stock worth $1,081,000 after acquiring an additional 11,362 shares during the period. Hedge funds and other institutional investors own 56.68% of the company's stock.

Astronics Price Performance

Shares of Astronics stock traded up $0.29 during midday trading on Wednesday, hitting $36.80. 459,029 shares of the company were exchanged, compared to its average volume of 532,542. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.04 and a quick ratio of 1.63. The firm has a market cap of $1.30 billion, a P/E ratio of -306.64 and a beta of 1.69. Astronics Corporation has a 52 week low of $14.13 and a 52 week high of $38.26. The firm has a 50 day simple moving average of $34.32 and a 200-day simple moving average of $28.89.

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

Analyst Ratings Changes

Several research firms have recently commented on ATRO. Wall Street Zen cut Astronics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Truist Financial raised Astronics from a "hold" rating to a "buy" rating and set a $49.00 target price for the company in a report on Friday, July 11th. Finally, Zacks Research upgraded shares of Astronics to a "strong-buy" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Strong Buy" and an average price target 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.