7,674 Shares in Astronics Corporation $ATRO Bought by First Bank & Trust

Key Points

• First Bank & Trust has acquired a new stake in Astronics Corporation, purchasing 7,674 shares valued at approximately $257,000 during the second quarter.
• Astronics' market performance is notable, with the stock being rated as a Strong Buy by some analysts, and its price target set at $49.00.
• Insider trading activity includes James Mulato selling 1,129 shares at an average price of $38.16, reflecting a significant decrease in his ownership.

First Bank & Trust acquired a new position in Astronics Corporation (NASDAQ:ATRO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,674 shares of the aerospace company's stock, valued at approximately $257,000.

A number of other hedge funds have also recently modified their holdings of ATRO. Northern Trust Corp lifted its stake in Astronics by 5.4% in the 4th quarter. Northern Trust Corp now owns 257,633 shares of the aerospace company's stock worth $4,112,000 after purchasing an additional 13,086 shares in the last quarter. Ameriprise Financial Inc. grew its position in Astronics by 493.7% during the fourth quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company's stock valued at $5,798,000 after buying an additional 302,092 shares during the period. Bank of America Corp DE grew its position in shares of Astronics by 48.2% in the fourth quarter. Bank of America Corp DE now owns 35,129 shares of the aerospace company's stock valued at $561,000 after purchasing an additional 11,427 shares during the period. Deutsche Bank AG boosted its position in Astronics by 10.8% during the fourth quarter. Deutsche Bank AG now owns 90,509 shares of the aerospace company's stock worth $1,445,000 after acquiring an additional 8,859 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Astronics by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,422 shares of the aerospace company's stock valued at $262,000 after acquiring an additional 684 shares during the period. Institutional investors own 56.68% of the company's stock.

Astronics Trading Down 0.8%

Shares of ATRO stock traded down $0.32 during trading hours on Friday, reaching $41.60. The company's stock had a trading volume of 903,808 shares, compared to its average volume of 1,033,698. The stock has a market capitalization of $1.47 billion, a P/E ratio of -346.64 and a beta of 1.69. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. The firm's fifty day simple moving average is $36.13 and its 200 day simple moving average is $30.69. Astronics Corporation has a one year low of $14.13 and a one year high of $46.61.

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

Insider Transactions at Astronics

In other news, insider James Mulato sold 1,129 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $38.16, for a total transaction of $43,082.64. Following the completion of the sale, the insider owned 1,066 shares in the company, valued at approximately $40,678.56. This represents a 51.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.39% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ATRO shares. Truist Financial upgraded shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target for the company in a research note on Friday, July 11th. Zacks Research upgraded shares of Astronics to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Wall Street Zen lowered shares of Astronics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and a consensus price target of $49.00.

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.