Bosun Asset Management LLC Makes New $975,000 Investment in Astronics Corporation $ATRO

Key Points

• Bosun Asset Management LLC acquired a new stake in Astronics Corporation, purchasing 40,357 shares for approximately $975,000, which represents about 0.11% of the company's stock.
• A number of institutional investors have significantly increased their holdings in Astronics, with GAMMA Investing LLC expanding its stake by 16,616.7% during the first quarter.
• Wall Street analysts rate Astronics Corporation positively, with a consensus rating of "Strong Buy" and a price target of $49.00, following various upgrades this year.

Bosun Asset Management LLC purchased a new position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 40,357 shares of the aerospace company's stock, valued at approximately $975,000. Bosun Asset Management LLC owned 0.11% of Astronics at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of Astronics by 88.5% during the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock worth $35,000 after acquiring an additional 679 shares during the period. CWM LLC lifted its holdings in shares of 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 acquiring an additional 1,705 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of 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 worth $66,000 after acquiring an additional 2,600 shares during the period. GAMMA Investing LLC boosted its stake 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 purchasing an additional 5,982 shares in the last quarter. Finally, Equitable Trust Co. bought a new stake in shares of Astronics during the 1st quarter valued at approximately $251,000. Institutional investors own 56.68% of the company's stock.

Astronics Stock Down 0.7%

NASDAQ:ATRO traded down $0.29 on Monday, hitting $38.39. The stock had a trading volume of 746,588 shares, compared to its average volume of 535,971. The business's fifty day moving average is $34.61 and its 200 day moving average is $29.37. The company has a market cap of $1.36 billion, a PE ratio of -319.89 and a beta of 1.69. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59. Astronics Corporation has a 52 week low of $14.13 and a 52 week high of $39.50.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly 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. The business had revenue of $204.68 million for 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%. On average, equities research analysts expect that Astronics Corporation will post 0.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Astronics to a "strong-buy" rating in a report on Friday, August 8th. Wall Street Zen lowered shares of Astronics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Truist Financial raised shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target on the stock in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Strong Buy" and a consensus 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.