Goldman Sachs Group Inc. Boosts Stock Holdings in Astronics Corporation $ATRO

Key Points

• Goldman Sachs Group Inc. increased its stake in Astronics Corporation by 26.1%, acquiring an additional 46,054 shares in the first quarter, bringing its total ownership to 222,486 shares valued at approximately $5.377 million.
• Several institutional investors are boosting their positions in Astronics, with CWM LLC increasing its holdings by 192.2% and Signaturefd LLC growing its stake by 88.5% during the same period.
• The stock has received favorable ratings from analysts, with Zacks Research upgrading it to a "strong-buy" rating and a consensus target price of $49.00.

Goldman Sachs Group Inc. grew its position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 26.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 222,486 shares of the aerospace company's stock after buying an additional 46,054 shares during the quarter. Goldman Sachs Group Inc. owned 0.63% of Astronics worth $5,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of Astronics by 88.5% during the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock valued at $35,000 after buying an additional 679 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Astronics by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,422 shares of the aerospace company's stock worth $262,000 after purchasing an additional 684 shares during the last quarter. CWM LLC boosted its holdings in Astronics by 192.2% in the first quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock worth $63,000 after purchasing an additional 1,705 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in Astronics by 12.9% in the first quarter. Gamco Investors INC. ET AL now owns 18,400 shares of the aerospace company's stock worth $445,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in 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 purchasing an additional 2,600 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ATRO. Zacks Research upgraded shares of Astronics to a "strong-buy" rating in a report on Friday, August 8th. Wall Street Zen cut shares of Astronics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Truist Financial upgraded shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 target price on the stock in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and an average target price of $49.00.

Insider Activity at Astronics

In other news, insider James Mulato sold 1,129 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $38.16, for a total transaction of $43,082.64. Following the sale, the insider directly owned 1,066 shares in the company, valued at $40,678.56. This trade represents a 51.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.83% of the stock is owned by insiders.

Astronics Stock Up 0.3%

ATRO opened at $40.00 on Tuesday. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. Astronics Corporation has a 1-year low of $14.13 and a 1-year high of $46.61. The company has a market capitalization of $1.42 billion, a PE ratio of -333.31 and a beta of 1.69. The firm's 50 day simple moving average is $35.47 and its two-hundred day simple moving average is $30.21.

Astronics (NASDAQ:ATRO - Get Free Report) last released 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 business had revenue of $204.68 million for the quarter, compared to the consensus estimate of $208.29 million. As a group, equities analysts forecast that Astronics Corporation will post 0.82 EPS for the current year.

Astronics Company 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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