First Bank & Trust Takes $257,000 Position in Astronics Corporation $ATRO

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 purchased a new stake in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,674 shares of the aerospace company's stock, valued at approximately $257,000.

A number of other institutional investors have also recently made changes to their positions in ATRO. Signaturefd LLC boosted its holdings in shares of Astronics by 88.5% during the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock valued at $35,000 after acquiring an additional 679 shares during the last quarter. CWM LLC boosted its holdings in shares of Astronics by 192.2% during the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock valued at $63,000 after acquiring an additional 1,705 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Astronics by 167.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company's stock worth $66,000 after buying an additional 2,600 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Astronics by 16,616.7% in the first quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company's stock worth $145,000 after buying an additional 5,982 shares during the last quarter. Finally, Equitable Trust Co. purchased a new position in shares of Astronics in the first quarter worth approximately $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 business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $38.16, for a total value of $43,082.64. Following the sale, the insider owned 1,066 shares in the company, valued at approximately $40,678.56. The trade was a 51.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.83% of the company's stock.

Wall Street Analysts Forecast Growth

ATRO has been the topic of a number of research reports. Wall Street Zen downgraded shares of Astronics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Zacks Research raised shares of Astronics to a "strong-buy" rating in a report on Friday, August 8th. Finally, Truist Financial raised shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 price objective on the stock in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Astronics currently has an average rating of "Strong Buy" and an average price target of $49.00.

Astronics Trading Up 0.4%

Shares of ATRO opened at $40.15 on Wednesday. The company's fifty day moving average is $35.63 and its 200 day moving average is $30.28. Astronics Corporation has a fifty-two week low of $14.13 and a fifty-two week high of $46.61. The stock has a market capitalization of $1.42 billion, a PE ratio of -334.56 and a beta of 1.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04.

Astronics (NASDAQ:ATRO - Get Free Report) last announced 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 negative net margin of 0.45% and a positive return on equity of 22.89%. The company had revenue of $204.68 million for the quarter, compared to analysts' expectations of $208.29 million. Sell-side analysts expect that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

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.

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