Schonfeld Strategic Advisors LLC Buys 325,904 Shares of Astronics Co. (NASDAQ:ATRO)

Schonfeld Strategic Advisors LLC increased its stake in Astronics Co. (NASDAQ:ATRO - Free Report) by 58.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 881,504 shares of the aerospace company's stock after purchasing an additional 325,904 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 2.50% of Astronics worth $14,069,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. AlphaQuest LLC raised its position in shares of Astronics by 355.5% during the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company's stock valued at $57,000 after buying an additional 2,791 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Astronics in the fourth quarter valued at $73,000. Arcadia Investment Management Corp MI purchased a new stake in Astronics during the fourth quarter valued at about $135,000. Victory Capital Management Inc. bought a new stake in Astronics during the fourth quarter worth about $178,000. Finally, First Trust Advisors LP purchased a new position in shares of Astronics in the 4th quarter worth about $179,000. 56.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ATRO shares. StockNews.com upgraded Astronics from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Truist Financial decreased their target price on shares of Astronics from $23.00 to $21.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th.

Insider Buying and Selling at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the transaction, the director now owns 6,346 shares in the company, valued at $155,794.30. The trade was a 92.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.86% of the company's stock.

Astronics Trading Up 3.6 %

ATRO stock traded up $0.84 during trading on Friday, hitting $23.87. 353,611 shares of the company traded hands, compared to its average volume of 294,675. The company has a 50-day moving average of $23.10 and a 200-day moving average of $19.31. 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 Co. has a 1 year low of $14.13 and a 1 year high of $26.63. The firm has a market capitalization of $841.87 million, a PE ratio of -125.62 and a beta of 1.26.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (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 firm had revenue of $208.54 million for the quarter, compared to analysts' expectations of $194.91 million. During the same quarter last year, the business earned $0.35 earnings per share. 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.