Capital International Investors Buys Shares of 1,407,000 Astronics Corporation $ATRO

Key Points

• Capital International Investors purchased 1,407,000 shares of Astronics (NASDAQ:ATRO) in Q3 — about $64.17 million of stock, representing 3.97% ownership.
• Astronics beat Q results with EPS of $0.75 (vs. $0.63 est.) and revenue of $240.07M (+15.1% YoY); the shares trade near $73, with a market cap of ~$2.61B and a P/E around 95.
• Analyst coverage is mostly positive: the consensus rating is Buy with an average target of about $77.33, though ratings range from strong-buy to sell.

Capital International Investors purchased a new position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,407,000 shares of the aerospace company's stock, valued at approximately $64,173,000. Capital International Investors owned 3.97% of Astronics as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of ATRO. Brighton Jones LLC lifted its holdings in Astronics by 3.1% in the third quarter. Brighton Jones LLC now owns 7,085 shares of the aerospace company's stock worth $323,000 after purchasing an additional 216 shares during the period. Covestor Ltd increased its stake in Astronics by 25.4% during the 3rd quarter. Covestor Ltd now owns 1,068 shares of the aerospace company's stock valued at $49,000 after buying an additional 216 shares during the period. US Bancorp DE raised its position in shares of Astronics by 41.0% during the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company's stock worth $44,000 after buying an additional 281 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Astronics by 13.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the aerospace company's stock worth $103,000 after acquiring an additional 369 shares during the period. Finally, WINTON GROUP Ltd lifted its stake in shares of Astronics by 4.6% in the 3rd quarter. WINTON GROUP Ltd now owns 8,644 shares of the aerospace company's stock worth $394,000 after acquiring an additional 383 shares during the period. Institutional investors own 56.68% of the company's stock.

Astronics Trading Up 0.1%

Shares of NASDAQ ATRO opened at $73.19 on Thursday. The company has a quick ratio of 1.71, a current ratio of 3.10 and a debt-to-equity ratio of 2.39. Astronics Corporation has a 12 month low of $19.89 and a 12 month high of $83.96. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 95.05 and a beta of 1.06. The business has a fifty day simple moving average of $73.84 and a 200-day simple moving average of $56.67.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.12. The firm had revenue of $240.07 million for the quarter, compared to analysts' expectations of $237.11 million. Astronics had a return on equity of 39.95% and a net margin of 3.41%.Astronics's revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. Sell-side analysts predict that Astronics Corporation will post 0.82 EPS for the current year.

Analyst Ratings Changes

ATRO has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Astronics from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 28th. TD Cowen started coverage on Astronics in a research report on Wednesday, November 26th. They issued a "buy" rating for the company. Zacks Research raised Astronics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Astronics in a research report on Wednesday, January 21st. Finally, CJS Securities raised Astronics to a "strong-buy" rating in a research note on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Astronics has an average rating of "Buy" and an average target price of $77.33.

About Astronics

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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