Kingdom Financial Group LLC. Takes Position in Astronics Corporation $ATRO

Kingdom Financial Group LLC. purchased a new stake in Astronics Corporation (NASDAQ:ATRO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 15,408 shares of the aerospace company’s stock, valued at approximately $836,000.

Other hedge funds have also made changes to their positions in the company. Capital International Investors purchased a new stake in shares of Astronics in the 3rd quarter valued at approximately $64,173,000. Vanguard Group Inc. grew its stake in shares of Astronics by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,936,166 shares of the aerospace company’s stock valued at $88,309,000 after buying an additional 105,311 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Astronics in the 3rd quarter valued at approximately $2,204,000. Y Intercept Hong Kong Ltd grew its stake in shares of Astronics by 74.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock valued at $1,508,000 after buying an additional 14,160 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Astronics by 6.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 236,326 shares of the aerospace company’s stock worth $10,779,000 after acquiring an additional 14,000 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ATRO shares. Zacks Research lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Finally, Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Astronics currently has an average rating of “Moderate Buy” and a consensus target price of $77.33.

Astronics Price Performance

Astronics stock opened at $79.89 on Friday. The firm has a market cap of $2.85 billion, a PE ratio of 67.70 and a beta of 1.10. Astronics Corporation has a 52-week low of $27.27 and a 52-week high of $86.27. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The company’s 50 day moving average is $72.77 and its two-hundred day moving average is $66.76.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. On average, research analysts expect that Astronics Corporation will post 2.65 EPS for the current fiscal year.

Astronics Company Profile

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.