Neuberger Berman Group LLC Sells 10,000 Shares of Astronics Corporation $ATRO

Key Points

• Neuberger Berman Group LLC reduced its stake in Astronics Corporation by 28.6% during the first quarter, leaving it with 25,000 shares valued at approximately $604,000.
• Other institutional investors, including Vanguard Group and Ameriprise Financial, increased their holdings significantly, indicating a positive sentiment towards Astronics' stock.
• Astronics reported earnings per share of $0.38, exceeding analysts' expectations, despite having a negative net margin of -0.45% for the quarter.

Neuberger Berman Group LLC trimmed its position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 28.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the aerospace company's stock after selling 10,000 shares during the quarter. Neuberger Berman Group LLC owned 0.07% of Astronics worth $604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in Astronics by 88.5% in the 1st 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 raised its holdings in Astronics by 192.2% in the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock worth $63,000 after purchasing an additional 1,705 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Astronics by 167.1% in the 4th 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 raised its holdings in Astronics by 16,616.7% in the 1st quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company's stock worth $145,000 after purchasing an additional 5,982 shares during the period. Finally, Equitable Trust Co. bought a new position in Astronics in the 1st quarter worth $251,000. 56.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ATRO. Wall Street Zen cut Astronics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Truist Financial raised Astronics from a "hold" rating to a "buy" rating and set a $49.00 target price on the stock in a report on Friday, July 11th. Finally, Zacks Research raised Astronics to a "strong-buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat.com, Astronics has a consensus rating of "Strong Buy" and a consensus price target of $49.00.

Astronics Price Performance

Shares of Astronics stock traded down $0.16 during trading on Wednesday, reaching $33.83. 291,978 shares of the stock traded hands, compared to its average volume of 518,725. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -281.98 and a beta of 1.64. The business has a fifty day simple moving average of $33.86 and a two-hundred day simple moving average of $27.66. 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 Corporation has a 52-week low of $14.13 and a 52-week high of $37.31.

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