Ameriprise Financial Inc. Has $5.80 Million Stake in Astronics Co. (NASDAQ:ATRO)

Ameriprise Financial Inc. lifted its stake in shares of Astronics Co. (NASDAQ:ATRO) by 493.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 363,286 shares of the aerospace company’s stock after buying an additional 302,092 shares during the quarter. Ameriprise Financial Inc. owned about 1.03% of Astronics worth $5,798,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ATRO. SG Americas Securities LLC grew its position in shares of Astronics by 25.1% during the 4th quarter. SG Americas Securities LLC now owns 14,250 shares of the aerospace company’s stock worth $227,000 after buying an additional 2,863 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Astronics during the 4th quarter worth approximately $135,000. Wealthspire Advisors LLC grew its position in shares of Astronics by 42.7% during the 4th quarter. Wealthspire Advisors LLC now owns 21,789 shares of the aerospace company’s stock worth $348,000 after buying an additional 6,523 shares during the period. Skylands Capital LLC acquired a new stake in shares of Astronics during the 4th quarter worth approximately $1,622,000. Finally, Bank of New York Mellon Corp grew its position in shares of Astronics by 16.4% during the 4th quarter. Bank of New York Mellon Corp now owns 108,231 shares of the aerospace company’s stock worth $1,727,000 after buying an additional 15,242 shares during the period. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Stock Performance

NASDAQ ATRO opened at $30.19 on Friday. The company has a fifty day simple moving average of $24.79 and a 200 day simple moving average of $20.35. Astronics Co. has a 12-month low of $14.13 and a 12-month high of $31.15. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.07 billion, a P/E ratio of -158.89 and a beta of 1.44.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $205.94 million during the quarter, compared to the consensus estimate of $192.53 million. Sell-side analysts predict that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ATRO shares. Truist Financial reduced 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 downgraded shares of Astronics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

Insider Activity at Astronics

In other Astronics news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction 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 transaction, the director now directly owns 6,346 shares of the company’s stock, valued at $155,794.30. The trade was a 92.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.83% of the stock is currently owned by insiders.

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.