Astronics Corporation $ATRO Shares Acquired by Kennedy Capital Management LLC

Kennedy Capital Management LLC lifted its position in shares of Astronics Corporation (NASDAQ:ATRO) by 127.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 109,286 shares of the aerospace company’s stock after purchasing an additional 61,193 shares during the period. Kennedy Capital Management LLC’s holdings in Astronics were worth $5,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Congruence Capital LLC acquired a new stake in shares of Astronics during the 4th quarter worth $19,658,000. Barclays PLC increased its holdings in shares of Astronics by 20.0% during the 4th quarter. Barclays PLC now owns 51,721 shares of the aerospace company’s stock worth $2,805,000 after buying an additional 8,637 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Astronics during the 4th quarter worth $259,000. Hudson Bay Capital Management LP acquired a new stake in shares of Astronics during the 4th quarter worth $5,424,000. Finally, Quarry LP increased its holdings in Astronics by 33.6% in the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 143 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Stock Performance

Shares of ATRO stock opened at $75.69 on Tuesday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. Astronics Corporation has a one year low of $22.73 and a one year high of $83.24. The company’s 50-day simple moving average is $65.95 and its 200-day simple moving average is $59.37. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 64.14 and a beta of 1.14.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The business had revenue of $230.62 million for the quarter, compared to analysts’ expectations of $225.52 million. During the same quarter last year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities analysts anticipate that Astronics Corporation will post 2.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen downgraded Astronics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Truist Financial upgraded Astronics to a “strong-buy” rating in a report on Monday, May 4th. TD Cowen increased their price target on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a report on Thursday, May 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Finally, Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Two investment 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.17.

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.