James Mulato Sells 1,129 Shares of Astronics (NASDAQ:ATRO) Stock

Key Points

• Insider Activity: James Mulato, an insider at Astronics Corporation (NASDAQ:ATRO), sold 1,129 shares at an average price of $38.16, which represents a 51.44% reduction in his stake, leaving him with 1,066 shares valued at approximately $40,678.56.
• Recent Financial Performance: Astronics reported $0.38 earnings per share for the last quarter, exceeding analysts’ estimates of $0.33, although revenue was slightly below expectations at $204.68 million.
• Analyst Ratings: The stock received varied ratings, with Truist Financial upgrading it to "buy" and setting a price objective of $49.00, while Zacks Research raised it to a "strong-buy," indicating positive market sentiment.

Astronics Corporation (NASDAQ:ATRO - Get Free Report) insider James Mulato sold 1,129 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $38.16, for a total transaction of $43,082.64. Following the sale, the insider owned 1,066 shares in the company, valued at approximately $40,678.56. This trade represents a 51.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Astronics Price Performance

Shares of Astronics stock traded down $3.44 on Thursday, hitting $40.46. 2,314,824 shares of the company traded hands, compared to its average volume of 578,082. The firm's 50-day simple moving average is $35.05 and its 200 day simple moving average is $29.65. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. The company has a market cap of $1.43 billion, a P/E ratio of -337.14 and a beta of 1.69. Astronics Corporation has a 12-month low of $14.13 and a 12-month high of $46.61.

Astronics (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.05. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%.The firm had revenue of $204.68 million during the quarter, compared to analysts' expectations of $208.29 million. Analysts expect that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astronics

Several institutional investors and hedge funds have recently bought and sold shares of ATRO. Price T Rowe Associates Inc. MD purchased a new stake in Astronics in the 4th quarter worth approximately $185,000. Northern Trust Corp lifted its holdings in Astronics by 5.4% in the 4th quarter. Northern Trust Corp now owns 257,633 shares of the aerospace company's stock worth $4,112,000 after buying an additional 13,086 shares during the period. Ameriprise Financial Inc. raised its position 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 worth $5,798,000 after acquiring an additional 302,092 shares in the last quarter. Bank of America Corp DE raised its position in shares of Astronics by 48.2% in the 4th quarter. Bank of America Corp DE now owns 35,129 shares of the aerospace company's stock worth $561,000 after acquiring an additional 11,427 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Astronics by 310.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 203,341 shares of the aerospace company's stock worth $3,245,000 after acquiring an additional 153,839 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company's stock.

Wall Street Analysts Forecast Growth

ATRO has been the subject of a number of research reports. Truist Financial upgraded Astronics from a "hold" rating to a "buy" rating and set a $49.00 price objective for the company in a report on Friday, July 11th. Wall Street Zen lowered Astronics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Zacks Research raised Astronics to a "strong-buy" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, Astronics currently has a consensus rating of "Strong Buy" and a consensus target price of $49.00.

About Astronics

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.

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