Two Sigma Investments LP Boosts Stake in Astronics Co. (NASDAQ:ATRO)

Two Sigma Investments LP lifted its position in Astronics Co. (NASDAQ:ATRO - Free Report) by 159.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,148 shares of the aerospace company's stock after acquiring an additional 108,769 shares during the period. Two Sigma Investments LP owned 0.50% of Astronics worth $2,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP boosted its stake in Astronics by 18.7% during the fourth quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock worth $18,360,000 after buying an additional 181,619 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Astronics by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 998,506 shares of the aerospace company's stock valued at $15,936,000 after purchasing an additional 58,149 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Astronics by 58.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company's stock worth $14,069,000 after acquiring an additional 325,904 shares in the last quarter. Millennium Management LLC increased its stake in Astronics by 881.6% during the 4th quarter. Millennium Management LLC now owns 414,823 shares of the aerospace company's stock worth $6,621,000 after buying an additional 372,565 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Astronics by 493.7% during the 4th quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company's stock worth $5,798,000 after purchasing an additional 302,092 shares during the period. 56.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ATRO. Truist Financial dropped their price objective on Astronics from $23.00 to $21.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Wall Street Zen downgraded Astronics from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st.

Astronics Stock Performance

Astronics stock traded up $0.16 during mid-day trading on Tuesday, reaching $32.01. 159,850 shares of the company were exchanged, compared to its average volume of 323,522. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The firm's 50-day simple moving average is $25.46 and its two-hundred day simple moving average is $20.97. The firm has a market cap of $1.13 billion, a PE ratio of -168.46 and a beta of 1.44. Astronics Co. has a twelve month low of $14.13 and a twelve month high of $32.39.

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

Insider Activity

In other news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.55, for a total value of $1,892,780.45. Following the completion of the sale, the director now 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 available at 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.