Astronics Corporation $ATRO Shares Purchased by Goldman Sachs Group Inc.

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 stake in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 26.1% during the first quarter, according to its most recent Form 13F filing with the Securities and 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Jane Street Group LLC grew its stake in shares of Astronics by 579.4% in the first quarter. Jane Street Group LLC now owns 230,492 shares of the aerospace company's stock worth $5,571,000 after purchasing an additional 196,568 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Astronics by 22.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company's stock worth $1,735,000 after buying an additional 13,104 shares during the period. Millennium Management LLC lifted its holdings in shares of Astronics by 80.1% during the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company's stock valued at $18,054,000 after purchasing an additional 332,133 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Astronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company's stock worth $423,000 after acquiring an additional 1,069 shares during the last quarter. Finally, Cove Street Capital LLC bought a new stake in Astronics in the 1st quarter worth approximately $400,000. 56.68% of the stock is owned by institutional investors.

Insider Transactions at Astronics

In other Astronics news, insider James Mulato sold 1,129 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 9.39% of the company's stock.

Astronics Stock Performance

Shares of ATRO traded down $0.32 during midday trading on Friday, hitting $41.60. 903,808 shares of the stock traded hands, compared to its average volume of 1,033,698. Astronics Corporation has a 1-year low of $14.13 and a 1-year high of $46.61. The business's 50 day moving average price is $36.13 and its two-hundred day moving average price is $30.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04. The firm has a market capitalization of $1.47 billion, a PE ratio of -346.64 and a beta of 1.69.

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

Analyst Upgrades and Downgrades

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

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.