Hsbc Holdings PLC Sells 50,330 Shares of Astronics Corporation $ATRO

Hsbc Holdings PLC trimmed its position in shares of Astronics Corporation (NASDAQ:ATRO) by 34.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 93,903 shares of the aerospace company’s stock after selling 50,330 shares during the quarter. Hsbc Holdings PLC’s holdings in Astronics were worth $7,385,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. IFP Advisors Inc grew its position in shares of Astronics by 389.6% in the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after buying an additional 448 shares during the last quarter. Allworth Financial LP lifted its position in Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 533 shares during the last quarter. Quarry LP boosted its stake in Astronics by 33.6% in the fourth quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 143 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in Astronics in the fourth quarter valued at approximately $33,000. 56.68% of the stock is currently owned by institutional investors.

Astronics Stock Down 0.5%

NASDAQ:ATRO opened at $75.60 on Thursday. The company has a market cap of $3.25 billion, a PE ratio of 44.47 and a beta of 1.20. Astronics Corporation has a twelve month low of $32.62 and a twelve month high of $94.46. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 1.57. The company’s 50 day moving average is $74.68 and its two-hundred day moving average is $69.08.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. The business had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The company’s revenue was up 46.9% compared to the same quarter last year. Analysts anticipate that Astronics Corporation will post 2.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ATRO. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Zacks Research cut Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Finally, TD Cowen upped their target price on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Astronics has a consensus rating of “Moderate Buy” and a consensus target price of $74.17.

Astronics 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.