Invesco Ltd. Sells 179,964 Shares of Astronics Co. (NASDAQ:ATRO)

Invesco Ltd. trimmed its position in Astronics Co. (NASDAQ:ATRO) by 81.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,633 shares of the aerospace company’s stock after selling 179,964 shares during the quarter. Invesco Ltd. owned approximately 0.12% of Astronics worth $664,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ATRO. Barclays PLC raised its stake in shares of Astronics by 328.2% during the third quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock worth $883,000 after buying an additional 34,730 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Astronics by 108.3% during the 3rd 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 during the last quarter. SG Americas Securities LLC boosted its position in shares of Astronics by 25.1% in the 4th quarter. SG Americas Securities LLC now owns 14,250 shares of the aerospace company’s stock worth $227,000 after purchasing an additional 2,863 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Astronics in the 4th quarter worth $135,000. Finally, Wealthspire Advisors LLC increased its holdings in Astronics by 42.7% in the fourth quarter. Wealthspire Advisors LLC now owns 21,789 shares of the aerospace company’s stock valued at $348,000 after purchasing an additional 6,523 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Stock Up 3.6 %

Shares of Astronics stock opened at $23.87 on Friday. The company has a market capitalization of $841.87 million, a P/E ratio of -125.62 and a beta of 1.26. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The business has a 50-day moving average of $23.10 and a two-hundred day moving average of $19.31. Astronics Co. has a 1 year low of $14.13 and a 1 year high of $26.63.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $208.54 million for the quarter, compared to analyst estimates of $194.91 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, equities analysts predict that Astronics Co. will post 0.82 EPS for the current year.

Insider Activity

In related news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction that occurred on 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 owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This trade represents a 92.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ATRO shares. Truist Financial reduced their target price on Astronics from $23.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

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.