JPMorgan Chase & Co. Reduces Stock Holdings in Astronics Corporation $ATRO

Key Points

• JPMorgan Chase & Co. cut its stake in Astronics by 85.4% in Q3, selling 344,365 shares and retaining 58,989 shares valued at $2.69 million (about 0.17% of the company).
• Astronics beat recent quarterly expectations with $0.75 EPS versus $0.63 expected and $240.07 million in revenue, a 15.1% year‑over‑year increase and a return on equity near 40%.
• The stock carries a market capitalization of $2.49 billion and a P/E of 90.7, trades in a 12‑month range of $19.89–$83.96, and has a consensus analyst rating of Buy with a $77.33 target (mix of strong‑buy/buy and one sell).

JPMorgan Chase & Co. lowered its holdings in Astronics Corporation (NASDAQ:ATRO - Free Report) by 85.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,989 shares of the aerospace company's stock after selling 344,365 shares during the quarter. JPMorgan Chase & Co. owned 0.17% of Astronics worth $2,690,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Astronics by 3.1% during the third quarter. Brighton Jones LLC now owns 7,085 shares of the aerospace company's stock valued at $323,000 after purchasing an additional 216 shares during the period. Covestor Ltd raised its stake in shares of Astronics by 25.4% during the 3rd quarter. Covestor Ltd now owns 1,068 shares of the aerospace company's stock valued at $49,000 after buying an additional 216 shares during the last quarter. US Bancorp DE raised its stake in shares of Astronics by 41.0% during the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company's stock valued at $44,000 after buying an additional 281 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Astronics by 4.6% in the 3rd quarter. WINTON GROUP Ltd now owns 8,644 shares of the aerospace company's stock valued at $394,000 after buying an additional 383 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of Astronics by 2.3% in the second quarter. Captrust Financial Advisors now owns 19,220 shares of the aerospace company's stock worth $643,000 after buying an additional 435 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company's stock.

Astronics Stock Performance

NASDAQ ATRO opened at $69.84 on Monday. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 90.70 and a beta of 1.11. Astronics Corporation has a twelve month low of $19.89 and a twelve month high of $83.96. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39. The stock has a 50-day moving average of $73.70 and a 200 day moving average of $60.25.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The aerospace company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.63 by $0.12. The company had revenue of $240.07 million for the quarter, compared to analyst estimates of $237.11 million. Astronics had a return on equity of 39.95% and a net margin of 3.41%.Astronics's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. Sell-side analysts anticipate that Astronics Corporation will post 0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ATRO has been the topic of several analyst reports. Wall Street Zen raised Astronics from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 28th. CJS Securities upgraded Astronics to a "strong-buy" rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Astronics in a research note on Wednesday, January 21st. Craig Hallum reaffirmed a "buy" rating on shares of Astronics in a report on Friday, January 9th. Finally, Zacks Research upgraded shares of Astronics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $77.33.

Astronics Company Profile

Astronics Corporation NASDAQ: ATRO is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company's aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.

Want to see what other hedge funds are holding ATRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astronics Corporation (NASDAQ:ATRO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.