Deutsche Bank AG Takes Position in Astronics Corporation $ATRO

Key Points

• Deutsche Bank AG acquired 59,923 Astronics shares worth approximately $4.9 million in the second quarter, giving it about a 0.14% stake. Institutional investors collectively own 56.68% of the company.
• Analyst sentiment is broadly positive: Astronics has a consensus “Buy” rating and a $74.17 price target, despite one “Sell” rating.
• Astronics exceeded quarterly expectations, reporting $0.70 in EPS versus $0.59 expected and revenue of $259.96 million, up 46.9% year over year.

Deutsche Bank AG bought a new position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 59,923 shares of the aerospace company's stock, valued at approximately $4,869,000. Deutsche Bank AG owned about 0.14% of Astronics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. IFP Advisors Inc lifted its stake in Astronics by 389.6% in the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company's stock worth $26,000 after purchasing an additional 448 shares in the last quarter. Allworth Financial LP grew its position in shares of Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company's stock valued at $30,000 after purchasing an additional 533 shares in the last quarter. Quarry LP increased its holdings in shares of Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company's stock worth $31,000 after purchasing an additional 143 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of Astronics in the fourth quarter worth about $33,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ATRO shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Astronics in a research note on Friday, July 17th. Zacks Research raised Astronics from a "hold" rating to a "strong-buy" rating in a report on Monday, July 20th. TD Cowen increased their target price on Astronics from $70.83 to $83.33 and gave the company a "buy" rating in a research report on Thursday, May 28th. Wall Street Zen raised shares of Astronics from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. Finally, Truist Financial upgraded shares of Astronics to a "strong-buy" rating in a research report on Monday, May 4th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $74.17.

Astronics Stock Down 0.3%

NASDAQ ATRO opened at $74.50 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 1.57. The company has a fifty day moving average of $76.18 and a two-hundred day moving average of $68.17. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 43.82 and a beta of 1.15. Astronics Corporation has a 52 week low of $29.65 and a 52 week high of $94.46.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.11. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The business had revenue of $259.96 million for the quarter, compared to the consensus estimate of $245.30 million. The company's quarterly revenue was up 46.9% on a year-over-year basis. On average, analysts predict that Astronics Corporation will post 2.74 earnings per share for the current year.

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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