Nuveen Asset Management LLC Lowers Stake in Astronics Co. (NASDAQ:ATRO)

Nuveen Asset Management LLC lowered its position in Astronics Co. (NASDAQ:ATRO - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,726 shares of the aerospace company's stock after selling 13,040 shares during the period. Nuveen Asset Management LLC owned about 0.21% of Astronics worth $1,177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. AlphaQuest LLC lifted its stake in Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company's stock valued at $57,000 after buying an additional 2,791 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Astronics in the 4th quarter valued at about $73,000. Arcadia Investment Management Corp MI acquired a new stake in Astronics in the 4th quarter valued at about $135,000. Freestone Grove Partners LP acquired a new stake in Astronics in the 4th quarter valued at about $172,000. Finally, Victory Capital Management Inc. acquired a new stake in Astronics in the 4th quarter valued at about $178,000. Hedge funds and other institutional investors own 56.68% of the company's stock.

Astronics Trading Up 3.5%

Shares of NASDAQ ATRO traded up $1.13 during midday trading on Friday, reaching $33.44. 361,796 shares of the stock were exchanged, compared to its average volume of 328,980. The company has a 50 day simple moving average of $26.08 and a 200 day simple moving average of $21.41. The stock has a market capitalization of $1.18 billion, a P/E ratio of -175.99 and a beta of 1.56. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. Astronics Co. has a twelve month low of $14.13 and a twelve month high of $33.50.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.19. The business had revenue of $205.94 million during the quarter, compared to the consensus estimate of $192.53 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. As a group, equities analysts expect that Astronics Co. will post 0.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen downgraded shares of Astronics from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st. Truist Financial cut their price target on shares of Astronics from $23.00 to $21.00 and set a "hold" rating for the company in a report on Thursday, April 17th.

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.