Federated Hermes Inc. Sells 4,883 Shares of Astronics Co. (NASDAQ:ATRO)

Federated Hermes Inc. reduced its position in Astronics Co. (NASDAQ:ATRO) by 14.5% during the fourth quarter, HoldingsChannel reports. The fund owned 28,780 shares of the aerospace company’s stock after selling 4,883 shares during the quarter. Federated Hermes Inc.’s holdings in Astronics were worth $501,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in shares of Astronics by 1.8% in the third quarter. Swiss National Bank now owns 55,200 shares of the aerospace company’s stock worth $875,000 after acquiring an additional 1,000 shares during the period. RiverPark Advisors LLC boosted its stake in Astronics by 22.6% in the 4th quarter. RiverPark Advisors LLC now owns 5,815 shares of the aerospace company’s stock worth $101,000 after purchasing an additional 1,072 shares during the period. SG Americas Securities LLC grew its holdings in Astronics by 28.0% during the 4th quarter. SG Americas Securities LLC now owns 14,900 shares of the aerospace company’s stock valued at $260,000 after buying an additional 3,257 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Astronics during the fourth quarter valued at about $64,000. Finally, Jump Financial LLC lifted its holdings in shares of Astronics by 24.1% in the third quarter. Jump Financial LLC now owns 21,708 shares of the aerospace company’s stock worth $344,000 after buying an additional 4,220 shares in the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Truist Financial reduced their price target on shares of Astronics from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday.

Astronics Stock Performance

NASDAQ:ATRO opened at $18.37 on Friday. The stock has a market cap of $634.13 million, a P/E ratio of -22.40 and a beta of 1.64. The company has a quick ratio of 1.38, a current ratio of 2.72 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $17.75 and its two-hundred day moving average price is $16.92. Astronics Co. has a twelve month low of $14.06 and a twelve month high of $22.44.

Astronics (NASDAQ:ATRO) last announced its earnings results on Thursday, May 2nd. The aerospace company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). Astronics had a negative net margin of 3.83% and a negative return on equity of 6.53%. The company had revenue of $185.07 million during the quarter, compared to analysts’ expectations of $172.74 million. During the same period in the prior year, the business earned ($0.14) earnings per share. As a group, equities analysts predict that Astronics Co. will post 0.71 EPS for the current fiscal year.

Insider Activity

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

Astronics Company 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.