Nuveen LLC Takes $3.95 Million Position in Astronics Corporation $ATRO

Key Points

• Nuveen LLC has acquired a new stake in Astronics Corporation, purchasing 163,310 shares valued at approximately $3.95 million, representing 0.46% ownership.
• Astronics stock opened at $36.53 and has seen significant growth year-to-date, being up 100% in May.
• Multiple hedge funds increased their positions in Astronics during the fourth quarter, with Millennium Management LLC raising its stake by an astonishing 881.6%.

Nuveen LLC acquired a new position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 163,310 shares of the aerospace company's stock, valued at approximately $3,947,000. Nuveen LLC owned 0.46% of Astronics at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Signaturefd LLC grew its holdings in Astronics by 88.5% in the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock valued at $35,000 after purchasing an additional 679 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Astronics by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,422 shares of the aerospace company's stock valued at $262,000 after acquiring an additional 684 shares in the last quarter. CWM LLC lifted 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 valued at $63,000 after acquiring an additional 1,705 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Astronics by 167.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company's stock valued at $66,000 after acquiring an additional 2,600 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Astronics by 18.0% in the fourth quarter. MetLife Investment Management LLC now owns 19,281 shares of the aerospace company's stock valued at $308,000 after acquiring an additional 2,942 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company's stock.

Astronics Stock Performance

NASDAQ:ATRO traded up $0.14 during trading hours on Tuesday, reaching $36.51. 800,065 shares of the stock were exchanged, compared to its average volume of 737,095. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $34.32 and a 200-day simple moving average of $28.89. Astronics Corporation has a 52 week low of $14.13 and a 52 week high of $38.26. The stock has a market capitalization of $1.29 billion, a P/E ratio of -304.22 and a beta of 1.69.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) 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 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, sell-side analysts forecast that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen downgraded Astronics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research upgraded Astronics to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Truist Financial upgraded Astronics from a "hold" rating to a "buy" rating and set a $49.00 target price on the stock in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, Astronics currently 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.