Dynamic Technology Lab Private Ltd Reduces Stake in Astronics Corporation $ATRO

Key Points

• Dynamic Technology Lab Private Ltd sold 24,809 shares of Astronics Corporation, reducing its ownership by 49.2% to approximately 25,660 shares worth $620,000.
• Several hedge funds have increased their stakes in Astronics, with GAMMA Investing LLC reporting a significant 16,616.7% growth in its holdings during the 1st quarter.
• Astronics Corporation's stock has received mixed ratings from analysts, with a consensus rating of "Strong Buy" and a target price of $49.00.

Dynamic Technology Lab Private Ltd decreased its stake in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 49.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,660 shares of the aerospace company's stock after selling 24,809 shares during the quarter. Dynamic Technology Lab Private Ltd owned approximately 0.07% of Astronics worth $620,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Signaturefd LLC increased its holdings in 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 purchasing an additional 679 shares during the period. CWM LLC boosted its position 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 in the last quarter. Public Employees Retirement System of Ohio boosted its position 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 in the last quarter. GAMMA Investing LLC boosted its position in shares of Astronics by 16,616.7% during the 1st quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company's stock worth $145,000 after acquiring an additional 5,982 shares in the last quarter. Finally, Equitable Trust Co. acquired a new position in shares of Astronics during the 1st quarter worth about $251,000. Hedge funds and other institutional investors own 56.68% of the company's stock.

Insiders Place Their Bets

In related news, insider James Mulato sold 1,129 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $38.16, for a total value of $43,082.64. Following the completion of the transaction, the insider directly owned 1,066 shares of the company's stock, valued at $40,678.56. This trade represents a 51.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.39% of the stock is owned by insiders.

Analyst Ratings Changes

ATRO has been the subject of several analyst reports. Truist Financial raised Astronics from a "hold" rating to a "buy" rating and set a $49.00 price objective for the company in a research report on Friday, July 11th. Zacks Research raised Astronics to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Wall Street Zen cut Astronics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Strong Buy" and a consensus target price of $49.00.

Astronics Stock Performance

Shares of ATRO stock traded up $0.59 during trading hours on Monday, reaching $40.48. 173,692 shares of the company's stock were exchanged, compared to its average volume of 580,297. The company has a market cap of $1.43 billion, a P/E ratio of -339.05 and a beta of 1.69. The company's 50 day moving average is $35.31 and its two-hundred day moving average is $30.07. Astronics Corporation has a 1 year low of $14.13 and a 1 year high of $46.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.04 and a quick ratio of 1.63.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.05. The business had revenue of $204.68 million during the quarter, compared to the consensus estimate of $208.29 million. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%. Equities research analysts anticipate that Astronics Corporation will post 0.82 EPS for the current fiscal year.

About Astronics

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.