Raymond James & Associates Sells 970 Shares of Astronics Co. (NASDAQ:ATRO)

Raymond James & Associates decreased its stake in shares of Astronics Co. (NASDAQ:ATRO) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,972 shares of the aerospace company’s stock after selling 970 shares during the quarter. Raymond James & Associates owned about 0.06% of Astronics worth $383,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Astronics by 1.6% during the third quarter. Vanguard Group Inc. now owns 1,384,253 shares of the aerospace company’s stock valued at $21,954,000 after buying an additional 21,353 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Astronics by 2.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 579,421 shares of the aerospace company’s stock valued at $9,190,000 after buying an additional 14,221 shares during the last quarter. Acadian Asset Management LLC raised its stake in Astronics by 3.0% during the third quarter. Acadian Asset Management LLC now owns 343,526 shares of the aerospace company’s stock valued at $5,446,000 after buying an additional 10,119 shares during the last quarter. Lewis Capital Management LLC raised its stake in Astronics by 4.0% during the third quarter. Lewis Capital Management LLC now owns 334,737 shares of the aerospace company’s stock valued at $5,309,000 after buying an additional 13,004 shares during the last quarter. Finally, Swiss National Bank raised its stake in Astronics by 1.8% during the third quarter. Swiss National Bank now owns 55,200 shares of the aerospace company’s stock valued at $875,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Insider Activity at Astronics

In related news, EVP Michael C. Kuehn sold 7,074 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $17.72, for a total transaction of $125,351.28. Following the completion of the sale, the executive vice president now owns 12,875 shares in the company, valued at $228,145. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Michael C. Kuehn sold 7,074 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $17.72, for a total transaction of $125,351.28. Following the completion of the sale, the executive vice president now owns 12,875 shares in the company, valued at $228,145. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael C. Kuehn sold 2,209 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $20.16, for a total value of $44,533.44. Following the sale, the executive vice president now directly owns 14,248 shares of the company’s stock, valued at approximately $287,239.68. The disclosure for this sale can be found here. 10.86% of the stock is owned by company insiders.

Astronics Stock Up 2.9 %

ATRO stock opened at $16.58 on Friday. Astronics Co. has a 1-year low of $14.06 and a 1-year high of $22.44. The business has a fifty day moving average price of $17.92 and a 200-day moving average price of $16.87. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.72 and a quick ratio of 1.38. The stock has a market capitalization of $572.34 million, a P/E ratio of -20.22 and a beta of 1.62.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Wednesday, February 28th. The aerospace company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. The company had revenue of $195.29 million during the quarter, compared to analysts’ expectations of $188.35 million. Astronics had a negative return on equity of 6.53% and a negative net margin of 3.83%. Equities analysts forecast that Astronics Co. will post 0.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ATRO shares. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Truist Financial boosted their price target on Astronics from $18.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, March 1st.

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.