PDT Partners LLC Makes New $1.02 Million Investment in Astronics Co. (NASDAQ:ATRO)

PDT Partners LLC purchased a new stake in Astronics Co. (NASDAQ:ATRO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 63,582 shares of the aerospace company's stock, valued at approximately $1,015,000. PDT Partners LLC owned approximately 0.18% of Astronics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC grew its position in Astronics by 58.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company's stock worth $14,069,000 after acquiring an additional 325,904 shares during the last quarter. Royce & Associates LP boosted its position in Astronics by 18.7% during the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock worth $18,360,000 after buying an additional 181,619 shares during the period. Renaissance Technologies LLC increased its position in Astronics by 139.3% in the 4th quarter. Renaissance Technologies LLC now owns 286,700 shares of the aerospace company's stock valued at $4,576,000 after acquiring an additional 166,900 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Astronics by 154.3% during the fourth quarter. JPMorgan Chase & Co. now owns 236,406 shares of the aerospace company's stock valued at $3,773,000 after acquiring an additional 143,452 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in Astronics during the fourth quarter worth $1,783,000. Institutional investors own 56.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com raised Astronics from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Truist Financial dropped their price objective on shares of Astronics from $23.00 to $21.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th.

Insider Transactions at Astronics

In other news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the completion of the transaction, the director now owns 6,346 shares in the company, valued at $155,794.30. This trade represents a 92.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.86% of the stock is owned by corporate insiders.

Astronics Stock Down 1.4 %

Shares of ATRO traded down $0.34 during trading hours on Tuesday, reaching $23.50. 62,435 shares of the stock traded hands, compared to its average volume of 294,054. Astronics Co. has a 52 week low of $14.13 and a 52 week high of $26.63. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $23.18 and a 200 day simple moving average of $19.33. The company has a market cap of $828.79 million, a price-to-earnings ratio of -123.94 and a beta of 1.44.

Astronics (NASDAQ:ATRO - Get Free Report) last released its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.27. The company had revenue of $208.54 million for the quarter, compared to analysts' expectations of $194.91 million. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. During the same period in the previous year, the business posted $0.35 EPS. On average, equities analysts forecast that Astronics Co. will post 0.82 EPS for the current 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.