Legal & General Group Plc Takes $2.07 Million Position in Astronics Corporation $ATRO

Key Points

• Legal & General Group acquired 25,497 Astronics shares worth approximately $2.07 million, representing about 0.06% of the aerospace company. Institutional investors collectively own 56.68% of Astronics.
• Astronics reported quarterly earnings of $0.70 per share, exceeding estimates of $0.59, while revenue rose 46.9% year over year to $259.96 million.
• Analyst sentiment is generally positive, with a consensus “Buy” rating and a $74.17 target price, although one firm maintains a sell rating. Shares recently opened at $76.26.

Legal & General Group Plc purchased a new stake in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 25,497 shares of the aerospace company's stock, valued at approximately $2,072,000. Legal & General Group Plc owned about 0.06% of Astronics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Quarry LP grew its stake in shares of Astronics by 33.6% during the fourth quarter. Quarry LP now owns 568 shares of the aerospace company's stock worth $31,000 after buying an additional 143 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Astronics by 19.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company's stock valued at $62,000 after acquiring an additional 188 shares in the last quarter. Allworth Financial LP grew its position in Astronics by 57.1% during the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company's stock worth $29,000 after acquiring an additional 192 shares during the last quarter. US Bancorp DE grew its position in Astronics by 41.0% during the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company's stock worth $44,000 after acquiring an additional 281 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its holdings in Astronics by 24.5% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company's stock worth $83,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 56.68% of the company's stock.

Astronics Stock Performance

Shares of ATRO stock opened at $76.26 on Monday. The stock has a market capitalization of $3.28 billion, a PE ratio of 44.86 and a beta of 1.20. The business's 50 day simple moving average is $74.99 and its 200 day simple moving average is $68.85. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.97 and a quick ratio of 1.63. Astronics Corporation has a one year low of $30.72 and a one year high of $94.46.

Astronics (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.11. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The company had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. Astronics's quarterly revenue was up 46.9% on a year-over-year basis. As a group, research analysts forecast that Astronics Corporation will post 2.74 earnings per share for the current year.

Wall Street Analyst Weigh In

ATRO has been the topic of a number of recent research reports. Zacks Research raised Astronics from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 20th. TD Cowen raised their price objective on shares of Astronics from $70.83 to $83.33 and gave the company a "buy" rating in a report on Thursday, May 28th. Wall Street Zen raised shares of Astronics from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Astronics in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $74.17.

Astronics 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.