Teton Advisors Inc. Reduces Stake in 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. lessened its stake in Astronics Corporation (NASDAQ:ATRO - Free Report) by 8.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,000 shares of the aerospace company's stock after selling 15,000 shares during the quarter. Astronics accounts for about 2.4% of Teton Advisors Inc.'s investment portfolio, making the stock its 4th biggest holding. Teton Advisors Inc. owned about 0.45% of Astronics worth $3,795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Signaturefd LLC boosted its holdings in shares of Astronics by 88.5% in the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company's stock valued at $35,000 after buying an additional 679 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Astronics by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,422 shares of the aerospace company's stock valued at $262,000 after buying an additional 684 shares during the period. CWM LLC boosted its holdings in shares of Astronics by 192.2% in the first quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock valued at $63,000 after buying an additional 1,705 shares during the period. Legal & General Group Plc boosted its holdings in shares of Astronics by 2.7% in the fourth quarter. Legal & General Group Plc now owns 68,426 shares of the aerospace company's stock valued at $1,092,000 after buying an additional 1,770 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Astronics by 12.9% in the first quarter. Gamco Investors INC. ET AL now owns 18,400 shares of the aerospace company's stock valued at $445,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds own 56.68% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ATRO. Wall Street Zen cut shares of Astronics from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Zacks Research upgraded shares of Astronics to a "strong-buy" rating in a report on Friday, August 8th. Finally, Truist Financial upgraded 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. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, Astronics has an average rating of "Strong Buy" and a consensus price target of $49.00.

Astronics Stock Performance

ATRO stock traded down $1.46 during trading hours on Friday, reaching $36.37. The stock had a trading volume of 836,587 shares, compared to its average volume of 731,948. The stock has a market capitalization of $1.29 billion, a PE ratio of -303.06 and a beta of 1.64. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.04 and a quick ratio of 1.63. The stock has a 50-day simple moving average of $34.19 and a 200 day simple moving average of $28.64. Astronics Corporation has a fifty-two week low of $14.13 and a fifty-two week high of $38.26.

Astronics (NASDAQ:ATRO - Get Free Report) last announced 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 firm had revenue of $204.68 million during the quarter, compared to analysts' expectations of $208.29 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. Analysts predict that Astronics Corporation will post 0.82 EPS for the current fiscal 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.