Deutsche Bank AG Increases Position in Astronics Co. (NASDAQ:ATRO)

Deutsche Bank AG boosted its holdings in shares of Astronics Co. (NASDAQ:ATRO - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,509 shares of the aerospace company's stock after acquiring an additional 8,859 shares during the quarter. Deutsche Bank AG owned 0.26% of Astronics worth $1,445,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. AlphaQuest LLC grew its holdings in shares of Astronics by 355.5% in the fourth quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company's stock worth $57,000 after purchasing an additional 2,791 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Astronics in the 4th quarter valued at about $73,000. Arcadia Investment Management Corp MI bought a new position in Astronics in the 4th quarter worth about $135,000. Freestone Grove Partners LP bought a new position in Astronics in the 4th quarter worth about $172,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Astronics during the fourth quarter worth approximately $178,000. Institutional investors own 56.68% of the company's stock.

Insider Buying and Selling

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the completion of the sale, the director now directly owns 6,346 shares of the company's stock, valued at approximately $155,794.30. This represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.39% of the stock is currently owned by company insiders.

Astronics Stock Down 1.1%

NASDAQ ATRO traded down $0.35 during trading on Thursday, reaching $31.29. 356,328 shares of the company's stock traded hands, compared to its average volume of 322,250. Astronics Co. has a 12-month low of $14.13 and a 12-month high of $31.90. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -164.68 and a beta of 1.44. The company's 50 day simple moving average is $25.25 and its two-hundred day simple moving average is $20.70.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.19. The company had revenue of $205.94 million for the quarter, compared to analyst estimates of $192.53 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. As a group, sell-side analysts forecast that Astronics Co. will post 0.82 EPS for the current fiscal year.

Analyst Ratings Changes

ATRO has been the topic of several research reports. Wall Street Zen downgraded Astronics from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st. Truist Financial dropped their price target on Astronics from $23.00 to $21.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th.

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.