Informed Momentum Co LLC Acquires New Shares in Astronics Corporation (NASDAQ:ATRO)

Key Points

• Informed Momentum Co LLC invested $3.07 million in Astronics Corporation, acquiring 127,003 shares and holding 0.36% of the company's stock.
• Several hedge funds significantly increased their stakes in Astronics during the first quarter, with GAMMA Investing LLC boosting its ownership by an astounding 16,616.7%.
• Astronics Corporation reported a quarterly earnings per share (EPS) of $0.38, surpassing analysts' expectations, alongside a revenue of $204.68 million.

Informed Momentum Co LLC bought a new stake in Astronics Corporation (NASDAQ:ATRO - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 127,003 shares of the aerospace company's stock, valued at approximately $3,070,000. Informed Momentum Co LLC owned about 0.36% of Astronics at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Astronics by 88.5% in the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock valued at $35,000 after purchasing an additional 679 shares during the last quarter. CWM LLC increased its stake in Astronics by 192.2% in the first quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock valued at $63,000 after purchasing an additional 1,705 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake 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 valued at $66,000 after purchasing an additional 2,600 shares during the last quarter. GAMMA Investing LLC increased its stake in Astronics by 16,616.7% in the first quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company's stock valued at $145,000 after purchasing an additional 5,982 shares during the last quarter. Finally, Equitable Trust Co. purchased a new stake in Astronics during the first quarter valued at about $251,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Price Performance

Shares of ATRO stock traded up $1.44 during mid-day trading on Wednesday, hitting $34.25. 654,254 shares of the stock traded hands, compared to its average volume of 564,619. Astronics Corporation has a twelve month low of $14.13 and a twelve month high of $37.31. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -285.39 and a beta of 1.64. The company's 50-day simple moving average is $33.79 and its 200-day simple moving average is $27.14. 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 issued its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, beating 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 company had revenue of $204.68 million for the quarter, compared to analysts' expectations of $208.29 million. As a group, equities research analysts expect that Astronics Corporation will post 0.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ATRO has been the subject of a number of research reports. Wall Street Zen downgraded Astronics from a "strong-buy" rating to a "hold" rating in a research report on Saturday. Truist Financial upgraded Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target on the stock in a research report on Friday, July 11th.

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.