Senator Investment Group LP Increases Stake in Astronics Corporation $ATRO

Key Points

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Senator Investment Group LP raised its position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 708,883 shares of the aerospace company's stock after buying an additional 50,000 shares during the period. Senator Investment Group LP owned about 2.01% of Astronics worth $17,134,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in Astronics by 103,250.0% during the 1st quarter. Quantbot Technologies LP now owns 28,938 shares of the aerospace company's stock valued at $699,000 after buying an additional 28,910 shares during the period. American Century Companies Inc. boosted its position in Astronics by 34.0% during the 1st quarter. American Century Companies Inc. now owns 44,739 shares of the aerospace company's stock valued at $1,081,000 after buying an additional 11,362 shares during the period. Informed Momentum Co LLC purchased a new stake in Astronics during the 1st quarter valued at $3,070,000. Nuveen LLC purchased a new stake in Astronics during the 1st quarter valued at $3,947,000. Finally, Virtu Financial LLC purchased a new stake in Astronics during the 1st quarter valued at $586,000. Hedge funds and other institutional investors own 56.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ATRO. Wall Street Zen cut shares of Astronics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. 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 report on Friday, July 11th. Finally, Zacks Research raised shares of Astronics to a "strong-buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy" and an average target price of $49.00.

Astronics Price Performance

Shares of NASDAQ:ATRO traded up $0.74 during midday trading on Friday, reaching $36.34. 800,407 shares of the company were exchanged, compared to its average volume of 651,929. Astronics Corporation has a one year low of $14.13 and a one year high of $37.31. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. The business's fifty day moving average is $33.90 and its two-hundred day moving average is $27.95. The stock has a market cap of $1.29 billion, a PE ratio of -302.81 and a beta of 1.64.

Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. The business had revenue of $204.68 million during the quarter, compared to analyst estimates of $208.29 million. As a group, analysts predict that Astronics Corporation 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.