Bank of America Corp DE lifted its stake in Astronics Corporation (NASDAQ:ATRO - Free Report) by 81.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,722 shares of the aerospace company's stock after buying an additional 89,950 shares during the quarter. Bank of America Corp DE owned about 0.56% of Astronics worth $13,327,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its position in shares of Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company's stock worth $26,000 after acquiring an additional 448 shares during the last quarter. Allworth Financial LP increased its stake in Astronics by 57.1% in the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company's stock worth $29,000 after acquiring an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company's stock valued at $30,000 after acquiring an additional 533 shares during the last quarter. Quarry LP grew its position in Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company's stock worth $31,000 after acquiring an additional 143 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in Astronics during the fourth quarter worth approximately $33,000. 56.68% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Zacks Research upgraded shares of Astronics from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th. Wall Street Zen upgraded shares of Astronics from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. Truist Financial raised shares of Astronics to a "strong-buy" rating in a research note on Monday, May 4th. TD Cowen upped their price target on shares of Astronics from $70.83 to $83.33 and gave the company a "buy" rating in a report on Thursday, May 28th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Astronics in a research report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Astronics currently has an average rating of "Buy" and a consensus target price of $74.17.
Read Our Latest Research Report on Astronics
Astronics Stock Up 2.6%
Astronics stock opened at $78.00 on Friday. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 45.88 and a beta of 1.15. Astronics Corporation has a 52 week low of $29.65 and a 52 week high of $94.46. The business's 50-day moving average price is $76.22 and its 200 day moving average price is $68.00. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 1.57.
Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.59 by $0.11. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The business had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. The business's quarterly revenue was up 46.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Astronics Corporation will post 2.55 earnings per share for the current year.
About Astronics
(
Free Report)
Astronics Corporation NASDAQ: ATRO is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.
The company's aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.
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