Renaissance Technologies LLC Boosts Stock Position in Astronics Co. (NASDAQ:ATRO)

Renaissance Technologies LLC grew its holdings in shares of Astronics Co. (NASDAQ:ATRO - Free Report) by 139.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 286,700 shares of the aerospace company's stock after purchasing an additional 166,900 shares during the period. Renaissance Technologies LLC owned approximately 0.81% of Astronics worth $4,576,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Royce & Associates LP boosted its holdings in Astronics by 18.7% in the fourth quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock worth $18,360,000 after acquiring an additional 181,619 shares in the last quarter. JPMorgan Chase & Co. grew its position in Astronics by 154.3% during the 4th quarter. JPMorgan Chase & Co. now owns 236,406 shares of the aerospace company's stock valued at $3,773,000 after purchasing an additional 143,452 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in Astronics during the 4th quarter valued at about $1,783,000. Skylands Capital LLC purchased a new position in Astronics in the fourth quarter worth about $1,622,000. Finally, State Street Corp lifted its stake in shares of Astronics by 6.7% in the third quarter. State Street Corp now owns 924,070 shares of the aerospace company's stock worth $18,001,000 after buying an additional 58,356 shares in the last quarter. 56.68% of the stock is owned by institutional investors.

Insider Transactions at Astronics

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 6,346 shares in the company, valued at approximately $155,794.30. This trade represents a 92.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.86% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ATRO shares. Truist Financial reduced 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 report on Thursday, March 6th.

Astronics Stock Performance

Shares of ATRO stock traded up $0.67 during trading hours on Friday, reaching $21.87. The company had a trading volume of 297,279 shares, compared to its average volume of 289,876. The firm has a market cap of $771.33 million, a PE ratio of -115.10 and a beta of 1.26. The business has a fifty day moving average price of $22.77 and a 200-day moving average price of $19.22. Astronics Co. has a one year low of $14.13 and a one year high of $26.63. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates 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 in the previous year, the business earned $0.35 EPS. Sell-side analysts predict 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.