JPMorgan Chase & Co. Raises Holdings in Astronics Co. (NASDAQ:ATRO)

JPMorgan Chase & Co. raised its stake in Astronics Co. (NASDAQ:ATRO - Free Report) by 154.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,406 shares of the aerospace company's stock after buying an additional 143,452 shares during the period. JPMorgan Chase & Co. owned about 0.67% of Astronics worth $3,773,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Royce & Associates LP boosted its position in Astronics by 18.7% during the fourth quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock valued at $18,360,000 after buying an additional 181,619 shares during the period. Skylands Capital LLC purchased a new position in Astronics in the 4th quarter worth approximately $1,622,000. State Street Corp increased its stake in Astronics by 6.7% in the 3rd quarter. State Street Corp now owns 924,070 shares of the aerospace company's stock worth $18,001,000 after purchasing an additional 58,356 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Astronics during the fourth quarter valued at approximately $776,000. Finally, Barclays PLC grew its holdings in shares of Astronics by 328.2% in the third quarter. Barclays PLC now owns 45,313 shares of the aerospace company's stock worth $883,000 after purchasing an additional 34,730 shares during the last quarter. Institutional investors own 56.68% of the company's stock.

Insider Buying and Selling

In related news, Director Robert S. Keane sold 77,099 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ATRO has been the subject of several analyst reports. Truist Financial dropped their price target on shares of Astronics from $23.00 to $21.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. StockNews.com raised Astronics from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th.

Astronics Trading Up 0.4 %

Astronics stock traded up $0.09 during mid-day trading on Friday, reaching $21.29. 53,449 shares of the company traded hands, compared to its average volume of 288,325. The firm's 50 day moving average price is $22.71 and its 200 day moving average price is $19.20. Astronics Co. has a 52-week low of $14.13 and a 52-week high of $26.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The firm has a market capitalization of $750.70 million, a price-to-earnings ratio of -112.10 and a beta of 1.26.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The business had revenue of $208.54 million during the quarter, compared to analyst estimates of $194.91 million. During the same period last year, the business posted $0.35 earnings per share. On average, analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

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.