Astronics Corporation $ATRO Shares Acquired by Invesco Ltd.

Invesco Ltd. grew its position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 22.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,851 shares of the aerospace company's stock after purchasing an additional 9,218 shares during the period. Invesco Ltd. owned approximately 0.14% of Astronics worth $1,229,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in shares of Astronics by 224.1% during the first quarter. Assenagon Asset Management S.A. now owns 128,757 shares of the aerospace company's stock valued at $3,112,000 after purchasing an additional 89,033 shares during the period. Point72 Asset Management L.P. raised its position in shares of Astronics by 368.6% in the 4th quarter. Point72 Asset Management L.P. now owns 25,100 shares of the aerospace company's stock valued at $401,000 after purchasing an additional 19,744 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Astronics by 10.8% in the fourth quarter. Deutsche Bank AG now owns 90,509 shares of the aerospace company's stock worth $1,445,000 after buying an additional 8,859 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Astronics in the first quarter worth $5,521,000. Finally, Equitable Trust Co. bought a new stake in shares of Astronics in the first quarter worth $251,000. Hedge funds and other institutional investors own 56.68% of the company's stock.

Astronics Stock Performance

Shares of Astronics stock traded down $0.38 on Friday, reaching $38.68. 818,864 shares of the company were exchanged, compared to its average volume of 652,830. 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 company's 50-day moving average is $34.61 and its two-hundred day moving average is $29.29. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -322.31 and a beta of 1.69. Astronics Corporation has a 1-year low of $14.13 and a 1-year high of $39.50.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.05. The firm had revenue of $204.68 million during 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%. As a group, research analysts expect that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ATRO. Zacks Research upgraded shares of Astronics to a "strong-buy" rating in a research note on Friday, August 8th. Truist Financial upgraded shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target for the company in a research note on Friday, July 11th. Finally, Wall Street Zen lowered shares of Astronics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Strong Buy" and a consensus 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.