Teton Advisors Inc. Sells 15,000 Shares of Astronics Corporation $ATRO

Key Points

• Teton Advisors Inc. has reduced its stake in Astronics Corporation (NASDAQ:ATRO) by 8.7%, selling 15,000 shares, which now represents approximately 2.4% of its overall holdings.
• Astronics has received recent upgrades from analysts, with Zacks Research rating it as a "strong-buy" and Truist Financial setting a price target of $49.00 for the stock.
• As of the latest quarter, institutional investors and hedge funds collectively own 56.68% of Astronics' stock, indicating strong interest from large investors.

Teton Advisors Inc. cut its holdings in Astronics Corporation (NASDAQ:ATRO - Free Report) by 8.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,000 shares of the aerospace company's stock after selling 15,000 shares during the period. Astronics comprises about 2.4% of Teton Advisors Inc.'s holdings, making the stock its 4th largest position. Teton Advisors Inc. owned about 0.45% of Astronics worth $3,795,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ATRO. Assenagon Asset Management S.A. lifted its stake in Astronics by 224.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 128,757 shares of the aerospace company's stock valued at $3,112,000 after buying an additional 89,033 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Astronics by 368.6% during the 4th quarter. Point72 Asset Management L.P. now owns 25,100 shares of the aerospace company's stock worth $401,000 after purchasing an additional 19,744 shares during the period. Deutsche Bank AG boosted its holdings in shares of Astronics by 10.8% during the fourth quarter. Deutsche Bank AG now owns 90,509 shares of the aerospace company's stock worth $1,445,000 after purchasing an additional 8,859 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Astronics in the first quarter valued at $5,521,000. Finally, Northern Trust Corp lifted its position in Astronics by 5.4% during the fourth quarter. Northern Trust Corp now owns 257,633 shares of the aerospace company's stock worth $4,112,000 after buying an additional 13,086 shares during the period. Institutional investors and hedge funds own 56.68% of the company's stock.

Analyst Ratings Changes

ATRO has been the subject of several recent analyst reports. Zacks Research upgraded Astronics to a "strong-buy" rating in a report on Friday, August 8th. Truist Financial upgraded shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target on the stock in a report on Friday, July 11th. Finally, Wall Street Zen lowered shares of Astronics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Strong Buy" and a consensus price target of $49.00.

Astronics Stock Performance

Shares of ATRO stock opened at $36.7860 on Tuesday. Astronics Corporation has a 52 week low of $14.13 and a 52 week high of $37.31. The business has a 50 day moving average of $33.94 and a two-hundred day moving average of $28.20. 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 company has a market cap of $1.30 billion, a P/E ratio of -306.52 and a beta of 1.64.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.05. The company had revenue of $204.68 million during 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, analysts anticipate that Astronics Corporation will post 0.82 EPS for the current year.

About Astronics

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.

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