Globeflex Capital L P Takes $1.75 Million Position in Astronics Corporation $ATRO

Globeflex Capital L P acquired a new position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 21,590 shares of the aerospace company's stock, valued at approximately $1,754,000. Globeflex Capital L P owned 0.05% of Astronics as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ATRO. Vanguard Group Inc. lifted its holdings in shares of Astronics by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company's stock valued at $107,162,000 after purchasing an additional 39,527 shares during the last quarter. Emerald Advisers LLC increased its stake in Astronics by 85.0% in the 1st quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company's stock worth $29,970,000 after purchasing an additional 206,399 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Astronics by 78.1% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 279,159 shares of the aerospace company's stock worth $18,628,000 after purchasing an additional 122,440 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Astronics by 20.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 79,689 shares of the aerospace company's stock worth $6,476,000 after buying an additional 13,613 shares during the period. Finally, Bank of America Corp DE lifted its stake in Astronics by 81.9% during the first quarter. Bank of America Corp DE now owns 199,722 shares of the aerospace company's stock valued at $13,327,000 after buying an additional 89,950 shares in the last quarter. Institutional investors own 56.68% of the company's stock.

Wall Street Analysts Forecast Growth

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

Astronics Trading Down 4.2%

Astronics stock opened at $74.75 on Tuesday. Astronics Corporation has a 12 month low of $29.65 and a 12 month high of $94.46. 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 stock has a market cap of $3.21 billion, a P/E ratio of 43.97 and a beta of 1.15. The company's fifty day simple moving average is $76.20 and its 200-day simple moving average is $68.08.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.11. The firm had revenue of $259.96 million for the quarter, compared to the consensus estimate of $245.30 million. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The business's revenue for the quarter was up 46.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Astronics Corporation will post 2.74 EPS for the current fiscal 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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