Skylands Capital LLC Reduces Position in Astronics Corporation (NASDAQ:ATRO)

Skylands Capital LLC cut its position in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) by 38.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,000 shares of the aerospace company's stock after selling 38,632 shares during the period. Skylands Capital LLC owned 0.18% of Astronics worth $1,523,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ATRO. Bank of New York Mellon Corp raised its position in shares of Astronics by 16.4% in the fourth quarter. Bank of New York Mellon Corp now owns 108,231 shares of the aerospace company's stock worth $1,727,000 after acquiring an additional 15,242 shares during the period. Victory Capital Management Inc. acquired a new position in Astronics in the 4th quarter worth about $178,000. AlphaQuest LLC raised its holdings in 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 purchasing an additional 2,791 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Astronics in the 4th quarter worth about $776,000. Finally, Swiss National Bank boosted its position in Astronics by 2.2% during the fourth quarter. Swiss National Bank now owns 54,800 shares of the aerospace company's stock worth $875,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company's stock.

Astronics Price Performance

Shares of ATRO stock traded up $0.10 on Wednesday, reaching $32.53. 834,085 shares of the company were exchanged, compared to its average volume of 363,150. Astronics Corporation has a 1 year low of $14.13 and a 1 year high of $36.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 2.74. The business has a 50-day moving average price of $29.96 and a 200 day moving average price of $23.41. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -271.06 and a beta of 1.55.

Astronics (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.19. Astronics had a positive return on equity of 18.45% and a negative net margin of 0.43%. The company had revenue of $205.94 million for the quarter, compared to analysts' expectations of $192.53 million. Equities research analysts forecast that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on ATRO shares. Wall Street Zen cut Astronics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st. Truist Financial boosted their price target on shares of Astronics from $24.00 to $32.00 and gave the stock a "hold" rating in a report on Thursday, June 12th.

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.