BNP Paribas Financial Markets Reduces Holdings in Astronics Co. (NASDAQ:ATRO)

BNP Paribas Financial Markets reduced its holdings in shares of Astronics Co. (NASDAQ:ATRO) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,469 shares of the aerospace company’s stock after selling 542 shares during the period. BNP Paribas Financial Markets owned 0.11% of Astronics worth $614,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AlphaQuest LLC lifted its position in Astronics by 355.5% during the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock valued at $57,000 after acquiring an additional 2,791 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Astronics during the fourth quarter valued at approximately $73,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Astronics during the fourth quarter valued at approximately $135,000. Freestone Grove Partners LP bought a new stake in shares of Astronics during the fourth quarter valued at approximately $172,000. Finally, Victory Capital Management Inc. purchased a new position in Astronics in the 4th quarter worth approximately $178,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Stock Performance

Shares of NASDAQ ATRO opened at $30.19 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.46 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 $31.15. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -158.89 and a beta of 1.44. The firm has a 50 day moving average of $24.79 and a 200 day moving average of $20.35.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, May 6th. The aerospace company reported $0.44 EPS for the quarter, topping 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 firm had revenue of $205.94 million for the quarter, compared to the consensus estimate of $192.53 million. On average, research analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current year.

Analyst Ratings Changes

ATRO has been the topic of several recent analyst reports. Truist Financial dropped their price objective on Astronics from $23.00 to $21.00 and set a “hold” rating on the stock 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 note on Wednesday.

Insider Buying and Selling

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the business’s 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 owns 6,346 shares in the company, valued at $155,794.30. The trade was 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 company insiders.

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.