6,750 Shares in Astronics Corporation $ATRO Purchased by Legato Capital Management LLC

Legato Capital Management LLC acquired a new position in Astronics Corporation (NASDAQ:ATRO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,750 shares of the aerospace company’s stock, valued at approximately $366,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ATRO. AQR Capital Management LLC raised its position in Astronics by 20.4% in the 1st quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock worth $2,712,000 after purchasing an additional 18,975 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Astronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock worth $423,000 after purchasing an additional 1,069 shares during the period. Millennium Management LLC raised its position in Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after purchasing an additional 332,133 shares during the period. Goldman Sachs Group Inc. raised its position in Astronics by 26.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock worth $5,377,000 after purchasing an additional 46,054 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Astronics by 22.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock worth $1,735,000 after acquiring an additional 13,104 shares during the period. 56.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Astronics Stock Performance

Shares of ATRO stock opened at $85.01 on Thursday. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 72.04 and a beta of 1.10. The company’s 50 day moving average is $73.92 and its 200 day moving average is $67.75. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. Astronics Corporation has a 52-week low of $27.27 and a 52-week high of $86.96.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Astronics’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. On average, sell-side analysts anticipate that Astronics Corporation will post 2.68 EPS for the current fiscal year.

About Astronics

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.