Swiss National Bank Buys 1,200 Shares of Astronics Co. (NASDAQ:ATRO)

Swiss National Bank raised its position in shares of Astronics Co. (NASDAQ:ATRO) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,800 shares of the aerospace company’s stock after acquiring an additional 1,200 shares during the period. Swiss National Bank owned approximately 0.16% of Astronics worth $875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ATRO. Barclays PLC boosted its stake in Astronics by 328.2% in the 3rd quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock valued at $883,000 after purchasing an additional 34,730 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Astronics in the fourth quarter valued at about $776,000. Stifel Financial Corp acquired a new position in shares of Astronics in the third quarter valued at about $212,000. JPMorgan Chase & Co. grew its stake in shares of Astronics by 108.3% in the third quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company’s stock valued at $1,811,000 after acquiring an additional 48,328 shares in the last quarter. Finally, Skylands Capital LLC bought a new position in Astronics during the fourth quarter worth about $1,622,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ATRO shares. Truist Financial increased their target price on shares of Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, March 5th. StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th.

Astronics Trading Down 2.7 %

Shares of Astronics stock opened at $24.67 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. Astronics Co. has a 12-month low of $14.13 and a 12-month high of $26.63. The company has a market capitalization of $870.09 million, a price-to-earnings ratio of -129.84 and a beta of 1.74. The firm’s 50-day moving average price is $20.88 and its two-hundred day moving average price is $18.81.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The business had revenue of $208.54 million for the quarter, compared to analyst estimates of $194.91 million. During the same quarter last year, the business posted $0.35 EPS. On average, analysts forecast that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert S. Keane sold 77,099 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $24.55, for a total value of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares of the company’s stock, valued at $155,794.30. This trade represents a 92.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.