Astronics Corporation $ATRO Stock Holdings Raised by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its stake in Astronics Corporation by 1.7%, acquiring an additional 27,025 shares, bringing its total ownership to approximately 1.6 million shares, valued at $38.7 million.
• Astronics Corporation's stock has shown significant performance, being up 100% year-to-date as of May, with analysts currently rating it as a "Strong Buy" with a price target of $49.00.
• In its latest earnings report, Astronics reported an EPS of $0.38, surpassing the consensus estimate of $0.33, while its revenue came in at $204.68 million.

Vanguard Group Inc. grew its holdings in Astronics Corporation (NASDAQ:ATRO - Free Report) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,601,632 shares of the aerospace company's stock after acquiring an additional 27,025 shares during the period. Vanguard Group Inc. owned about 4.54% of Astronics worth $38,711,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP raised 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 acquiring an additional 58,149 shares during the period. Schonfeld Strategic Advisors LLC raised its stake in shares of Astronics by 58.7% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company's stock valued at $14,069,000 after acquiring an additional 325,904 shares during the period. Millennium Management LLC raised its stake in shares of Astronics by 881.6% in the 4th quarter. Millennium Management LLC now owns 414,823 shares of the aerospace company's stock valued at $6,621,000 after acquiring an additional 372,565 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Astronics by 493.7% in the 4th quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company's stock valued at $5,798,000 after acquiring an additional 302,092 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Astronics by 5.4% in the 4th quarter. Northern Trust Corp now owns 257,633 shares of the aerospace company's stock valued at $4,112,000 after acquiring an additional 13,086 shares during the period. Hedge funds and other institutional investors own 56.68% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial raised shares of Astronics from a "hold" rating to a "buy" rating and set a $49.00 target price on the stock in a research note on Friday, July 11th. Wall Street Zen downgraded shares of Astronics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Zacks Research raised shares of Astronics to a "strong-buy" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, Astronics currently has a consensus rating of "Strong Buy" and a consensus price target of $49.00.

Astronics Stock Down 3.9%

Astronics stock traded down $1.46 during midday trading on Monday, hitting $36.37. 836,587 shares of the stock were exchanged, compared to its average volume of 757,287. Astronics Corporation has a 1 year low of $14.13 and a 1 year high of $38.26. The firm has a market cap of $1.29 billion, a P/E ratio of -303.06 and a beta of 1.69. 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 company has a 50 day moving average price of $34.25 and a two-hundred day moving average price of $28.84.

Astronics (NASDAQ:ATRO - Get Free Report) last released its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share for the quarter, topping the consensus estimate 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 negative net margin of 0.45% and a positive return on equity of 22.89%. On average, sell-side analysts predict that Astronics Corporation will post 0.82 earnings per share 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.