Astronics Co. (NASDAQ:ATRO) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP raised its position in shares of Astronics Co. (NASDAQ:ATRO - Free Report) by 85.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,400 shares of the aerospace company's stock after acquiring an additional 45,900 shares during the period. Two Sigma Advisers LP owned approximately 0.28% of Astronics worth $1,586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Astronics in the 4th quarter worth approximately $776,000. Deutsche Bank AG boosted its holdings in 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 buying an additional 8,859 shares in the last quarter. Royce & Associates LP grew its position in Astronics by 18.7% during the fourth quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock valued at $18,360,000 after buying an additional 181,619 shares during the period. Ironwood Investment Management LLC acquired a new stake in Astronics during the fourth quarter valued at $439,000. Finally, Point72 Asset Management L.P. increased its holdings in Astronics by 368.6% in the fourth quarter. Point72 Asset Management L.P. now owns 25,100 shares of the aerospace company's stock valued at $401,000 after buying an additional 19,744 shares in the last quarter. Institutional investors own 56.68% of the company's stock.

Wall Street Analyst Weigh In

ATRO has been the topic of several recent analyst reports. Truist Financial lowered their target price on shares of Astronics from $23.00 to $21.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen downgraded Astronics from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st.

Astronics Price Performance

ATRO stock traded up $0.16 during trading on Tuesday, hitting $32.01. The stock had a trading volume of 159,850 shares, compared to its average volume of 323,522. The company's 50-day moving average price is $25.46 and its two-hundred day moving average price is $20.97. Astronics Co. has a twelve month low of $14.13 and a twelve month high of $32.39. The stock has a market capitalization of $1.13 billion, a P/E ratio of -168.46 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.25 by $0.19. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The firm had revenue of $205.94 million during the quarter, compared to analysts' expectations of $192.53 million. As a group, research analysts predict that Astronics Co. will post 0.82 EPS for the current fiscal year.

Insider Activity

In other Astronics news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the transaction, the director now directly owns 6,346 shares of the company's stock, valued at $155,794.30. The trade was a 92.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.39% of the company's stock.

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.