Engineers Gate Manager LP Has $2.03 Million Holdings in Astronics Corporation $ATRO

Key Points

• Engineers Gate Manager LP increased its Astronics stake by 551% in the second quarter, ending with 25,005 shares valued at approximately $2.03 million.
• Analyst sentiment is mixed but leans positive: Astronics has a “Moderate Buy” consensus rating and an average price target of $74.17, alongside ratings ranging from Strong Buy to Sell.
• Astronics reported quarterly earnings of $0.70 per share, beating estimates of $0.59, while revenue reached $259.96 million—up 46.9% year over year and above expectations.

Engineers Gate Manager LP grew its holdings in Astronics Corporation (NASDAQ:ATRO - Free Report) by 551.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,005 shares of the aerospace company's stock after purchasing an additional 21,164 shares during the quarter. Engineers Gate Manager LP owned approximately 0.06% of Astronics worth $2,032,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in shares of Astronics during the second quarter worth approximately $103,000. IFP Advisors Inc boosted its stake in Astronics by 65.1% in the second quarter. IFP Advisors Inc now owns 2,141 shares of the aerospace company's stock valued at $174,000 after acquiring an additional 844 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Astronics during the 2nd quarter worth $1,264,000. Arizona State Retirement System grew its holdings in Astronics by 12.1% during the 2nd quarter. Arizona State Retirement System now owns 8,134 shares of the aerospace company's stock worth $661,000 after acquiring an additional 880 shares during the period. Finally, Nykredit A S bought a new stake in shares of Astronics during the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 56.68% of the company's stock.

Analyst Ratings Changes

ATRO has been the topic of several analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Astronics in a research note on Friday, July 17th. Zacks Research cut shares of Astronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 7th. TD Cowen upped their price target on Astronics from $70.83 to $83.33 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Astronics from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 16th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Astronics has an average rating of "Moderate Buy" and an average target price of $74.17.

Astronics Stock Performance

Shares of NASDAQ ATRO opened at $66.64 on Wednesday. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. Astronics Corporation has a 12 month low of $32.62 and a 12 month high of $94.46. The stock has a 50 day moving average of $74.71 and a 200-day moving average of $69.25. The company has a market capitalization of $2.87 billion, a P/E ratio of 39.20 and a beta of 1.20.

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

Astronics Company Profile

Astronics Corporation NASDAQ: ATRO designs and manufactures advanced aerospace and defense systems and equipment. Its products include aircraft lighting, electrical power and distribution systems, cabin electronics, connectivity solutions, avionics, and other specialized components used in commercial, business, general aviation, and military aircraft.

The company also provides automated test systems and related equipment used to test aerospace, defense, and other electronic systems. Its offerings support aircraft manufacturers, airlines, defense contractors, and maintenance organizations, as well as customers in the space and transportation markets.

Founded in 1968 and headquartered in East Aurora, New York, Astronics serves customers through operations and sales activities in the United States and international markets.

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