Northern Trust Corp Grows Stock Holdings in Astronics Co. (NASDAQ:ATRO)

Northern Trust Corp lifted its holdings in Astronics Co. (NASDAQ:ATRO) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 257,633 shares of the aerospace company’s stock after purchasing an additional 13,086 shares during the period. Northern Trust Corp owned about 0.73% of Astronics worth $4,112,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ATRO. AlphaQuest LLC lifted its position in shares of Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after purchasing an additional 2,791 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Astronics in the 4th quarter worth approximately $73,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Astronics in the 4th quarter worth approximately $135,000. Victory Capital Management Inc. purchased a new stake in shares of Astronics in the 4th quarter worth approximately $178,000. Finally, First Trust Advisors LP purchased a new stake in shares of Astronics in the 4th quarter worth approximately $179,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Trading Down 2.4%

NASDAQ:ATRO opened at $29.86 on Friday. Astronics Co. has a 52 week low of $14.13 and a 52 week high of $31.15. The firm has a 50 day moving average of $24.69 and a 200 day moving average of $20.27. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -157.15 and a beta of 1.44.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, May 6th. The aerospace company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.19. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The company had revenue of $205.94 million during the quarter, compared to analysts’ expectations of $192.53 million. As a group, sell-side analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Insider Activity at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the completion of the sale, the director now owns 6,346 shares of the company’s stock, valued at $155,794.30. This represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ATRO shares. Truist Financial lowered their price target on shares of Astronics from $23.00 to $21.00 and set a “hold” rating for the company in a research report on Thursday, April 17th. Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

About Astronics

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.