Informed Momentum Co LLC Buys Shares of 127,003 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 shares of Astronics Corporation (NASDAQ:ATRO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 127,003 shares of the aerospace company's stock, valued at approximately $3,070,000. Informed Momentum Co LLC owned 0.36% of Astronics at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Signaturefd LLC grew its stake in shares of Astronics by 88.5% in the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock worth $35,000 after purchasing an additional 679 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Astronics by 4.3% in the 4th 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. Franklin Resources Inc. grew its stake in shares of Astronics by 3.4% in the 4th quarter. Franklin Resources Inc. now owns 20,882 shares of the aerospace company's stock worth $333,000 after purchasing an additional 693 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Astronics by 4.7% in the fourth quarter. Federated Hermes Inc. now owns 35,844 shares of the aerospace company's stock worth $572,000 after acquiring an additional 1,612 shares in the last quarter. Finally, CWM LLC increased its position in shares of 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 acquiring an additional 1,705 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ATRO. Zacks Research raised shares of Astronics to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen cut shares of Astronics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Truist Financial upgraded shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 price objective for the company in a research note on Friday, July 11th.

Astronics Stock Performance

NASDAQ:ATRO traded up $0.57 during trading hours on Friday, hitting $33.45. 501,645 shares of the company traded hands, compared to its average volume of 596,971. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -278.73 and a beta of 1.64. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average of $33.80 and a 200 day moving average of $27.36. Astronics Corporation has a twelve month low of $14.13 and a twelve month high of $37.31.

Astronics (NASDAQ:ATRO - Get Free Report) last posted its 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. The business had revenue of $204.68 million for the quarter, compared to analyst estimates of $208.29 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. On average, analysts forecast that Astronics Corporation will post 0.82 EPS for the current year.

About Astronics

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.