Price T Rowe Associates Inc. MD Takes Position in Astronics Co. (NASDAQ:ATRO)

Price T Rowe Associates Inc. MD acquired a new position in Astronics Co. (NASDAQ:ATRO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,571 shares of the aerospace company's stock, valued at approximately $185,000.

A number of other hedge funds also recently modified their holdings of ATRO. AlphaQuest LLC lifted its position in shares of Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company's stock worth $57,000 after acquiring an additional 2,791 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Astronics during the 4th quarter worth approximately $73,000. Arcadia Investment Management Corp MI bought a new position in shares of Astronics during the 4th quarter worth approximately $135,000. Victory Capital Management Inc. bought a new position in shares of Astronics during the 4th quarter worth approximately $178,000. Finally, First Trust Advisors LP bought a new position in shares of Astronics during the 4th quarter worth approximately $179,000. Institutional investors own 56.68% of the company's stock.

Insider Activity at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the completion of the sale, the director now directly owns 6,346 shares of the company's stock, valued at $155,794.30. This trade represents a 92.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.83% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on ATRO shares. Truist Financial cut their target price on Astronics from $23.00 to $21.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Wall Street Zen downgraded Astronics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday.

Astronics Price Performance

ATRO stock traded up $0.33 during midday trading on Friday, reaching $30.19. 229,313 shares of the company's stock traded hands, compared to its average volume of 319,484. The company has a 50-day simple moving average of $24.79 and a two-hundred day simple moving average of $20.35. Astronics Co. has a 1-year low of $14.13 and a 1-year high of $31.15. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -158.89 and a beta of 1.44. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72.

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

Astronics 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.