First Eagle Investment Management LLC Sells 6,300 Shares of Astronics Co. (NASDAQ:ATRO)

First Eagle Investment Management LLC lowered its position in shares of Astronics Co. (NASDAQ:ATRO) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 401,426 shares of the aerospace company’s stock after selling 6,300 shares during the period. First Eagle Investment Management LLC owned approximately 1.14% of Astronics worth $6,407,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC grew its position in Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after purchasing an additional 2,791 shares during the period. Point72 Asset Management L.P. grew its position in Astronics by 337.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company’s stock worth $104,000 after purchasing an additional 4,133 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Astronics in the 3rd quarter worth approximately $106,000. Arcadia Investment Management Corp MI bought a new stake in Astronics in the 4th quarter worth approximately $135,000. Finally, Victory Capital Management Inc. bought a new stake in Astronics in the 4th quarter worth approximately $178,000. Institutional investors own 56.68% of the company’s stock.

Astronics Trading Up 2.2 %

Shares of Astronics stock opened at $24.77 on Friday. The company’s fifty day simple moving average is $19.03 and its 200-day simple moving average is $18.49. The stock has a market capitalization of $873.44 million, a PE ratio of -130.36 and a beta of 1.74. Astronics Co. has a 1-year low of $14.13 and a 1-year high of $25.54. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.27. The business had revenue of $208.54 million for the quarter, compared to analysts’ expectations of $194.91 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. During the same quarter last year, the company posted $0.35 EPS. As a group, equities analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current year.

Insider Activity at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction on 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 transaction, the director now owns 6,346 shares in the company, valued at approximately $155,794.30. The trade was a 92.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ATRO has been the subject of a number of research analyst reports. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Truist Financial lifted their target price on shares of Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, March 5th.

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.