VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in Astronics Corporation $ATRO

Key Points

• Virginia Retirement Systems purchased 20,650 Astronics shares worth approximately $1.68 million in the second quarter, while institutional investors collectively own 56.68% of the company.
• Astronics reported quarterly EPS of $0.70, beating estimates of $0.59, on revenue of $259.96 million that rose 46.9% year over year.
• Analyst sentiment remains mixed but leans positive, with a “Moderate Buy” consensus and a $74.17 target price; shares recently opened at $73.98.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Astronics Corporation (NASDAQ:ATRO - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,650 shares of the aerospace company's stock, valued at approximately $1,678,000.

Several other institutional investors have also added to or reduced their stakes in ATRO. AQR Capital Management LLC increased its holdings in shares of Astronics by 20.4% during the first quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company's stock valued at $2,712,000 after acquiring an additional 18,975 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Astronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company's stock worth $423,000 after purchasing an additional 1,069 shares in the last quarter. Millennium Management LLC grew its position in Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company's stock worth $18,054,000 after purchasing an additional 332,133 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Astronics by 26.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company's stock worth $5,377,000 after purchasing an additional 46,054 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Astronics by 22.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company's stock valued at $1,735,000 after purchasing an additional 13,104 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company's stock.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $73.98 on Friday. Astronics Corporation has a twelve month low of $32.62 and a twelve month high of $94.46. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. The company has a market cap of $3.18 billion, a PE ratio of 43.52 and a beta of 1.20. The company's 50 day moving average is $74.80 and its 200 day moving average is $69.17.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.59 by $0.11. The business had revenue of $259.96 million during the quarter, compared to analysts' expectations of $245.30 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The firm's revenue was up 46.9% on a year-over-year basis. On average, sell-side analysts forecast that Astronics Corporation will post 2.74 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on ATRO shares. Zacks Research cut shares of Astronics from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Astronics in a report on Friday, July 17th. Wall Street Zen raised Astronics from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 16th. Finally, TD Cowen raised their target price on Astronics from $70.83 to $83.33 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Astronics has an average rating of "Moderate Buy" and a consensus target price of $74.17.

Astronics Company Profile

Astronics Corporation NASDAQ: ATRO designs and manufactures advanced aerospace and defense systems and equipment. Its products include aircraft lighting, electrical power and distribution systems, cabin electronics, connectivity solutions, avionics, and other specialized components used in commercial, business, general aviation, and military aircraft.

The company also provides automated test systems and related equipment used to test aerospace, defense, and other electronic systems. Its offerings support aircraft manufacturers, airlines, defense contractors, and maintenance organizations, as well as customers in the space and transportation markets.

Founded in 1968 and headquartered in East Aurora, New York, Astronics serves customers through operations and sales activities in the United States and international markets.

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