Royce & Associates LP Decreases Stock Holdings in Astronics Corporation (NASDAQ:ATRO)

Royce & Associates LP cut its stake in Astronics Corporation (NASDAQ:ATRO - Free Report) by 16.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 958,905 shares of the aerospace company's stock after selling 191,450 shares during the quarter. Royce & Associates LP owned 2.72% of Astronics worth $23,177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Signaturefd LLC raised its stake in Astronics by 88.5% during the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock worth $35,000 after acquiring an additional 679 shares during the period. CWM LLC grew its stake in shares of Astronics by 192.2% in the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock worth $63,000 after buying an additional 1,705 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Astronics by 167.1% during 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 during the last quarter. KLP Kapitalforvaltning AS bought a new position in Astronics during the fourth quarter valued at $73,000. Finally, GAMMA Investing LLC increased its position in Astronics by 16,616.7% during the first quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company's stock valued at $145,000 after acquiring an additional 5,982 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ATRO shares. Truist Financial raised shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 target price for the company in a research note on Friday, July 11th. Wall Street Zen lowered shares of Astronics from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 21st.

Astronics Trading Down 0.0%

Shares of ATRO traded down $0.01 during trading hours on Friday, reaching $34.49. 320,288 shares of the company traded hands, compared to its average volume of 631,808. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -287.39 and a beta of 1.55. Astronics Corporation has a 12-month low of $14.13 and a 12-month high of $37.31. The company has a current ratio of 2.74, a quick ratio of 1.49 and a debt-to-equity ratio of 0.60. The stock's fifty day moving average price is $33.03 and its 200 day moving average price is $25.58.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.19. Astronics had a negative net margin of 0.43% and a positive return on equity of 18.45%. The firm had revenue of $205.94 million during the quarter, compared to analyst estimates of $192.53 million. Sell-side analysts forecast that Astronics Corporation will post 0.82 earnings per share for the current year.

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.