Virtu Financial LLC Takes $586,000 Position in Astronics Corporation $ATRO

Key Points

• Virtu Financial LLC acquired a new position in Astronics Corporation, purchasing 24,236 shares valued at approximately $586,000 during the first quarter of this year.
• Astronics reported earnings of $0.38 per share for the latest quarter, exceeding analysts' estimates of $0.33, and has seen a significant increase in institutional interest, with notable purchases from firms like JPMorgan Chase & Co. and Franklin Resources Inc.
• Wall Street analysts are projecting continued growth for Astronics, with upgrades from firms like Truist Financial and varied ratings reflecting optimism for its future prospects.

Virtu Financial LLC purchased a new stake in shares of Astronics Corporation (NASDAQ:ATRO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 24,236 shares of the aerospace company's stock, valued at approximately $586,000. Virtu Financial LLC owned about 0.07% of Astronics as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Signaturefd LLC boosted its position 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 acquiring an additional 679 shares during the period. CWM LLC grew its position in Astronics by 192.2% in the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company's stock worth $63,000 after purchasing an additional 1,705 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Astronics by 167.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company's stock worth $66,000 after purchasing an additional 2,600 shares during the period. GAMMA Investing LLC raised its position in shares of Astronics by 16,616.7% during the first quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company's stock valued at $145,000 after buying an additional 5,982 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Astronics during the fourth quarter valued at about $172,000. 56.68% of the stock is owned by institutional investors.

Astronics Price Performance

Shares of ATRO stock traded up $1.22 during trading hours on Monday, reaching $34.67. 218,049 shares of the company were exchanged, compared to its average volume of 517,841. Astronics Corporation has a fifty-two week low of $14.13 and a fifty-two week high of $37.31. 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's fifty day moving average is $33.80 and its two-hundred day moving average is $27.50. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -288.77 and a beta of 1.64.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. The company had revenue of $204.68 million for the quarter, compared to analyst estimates of $208.29 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. Sell-side analysts forecast that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ATRO shares. Truist Financial upgraded Astronics from a "hold" rating to a "buy" rating and set a $49.00 price target on the stock in a research note on Friday, July 11th. Wall Street Zen cut Astronics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Zacks Research raised Astronics to a "strong-buy" rating in a research report on Friday, August 8th.

Astronics Company 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.