Astronics Corporation (NASDAQ:ATRO) Stake Lifted by Federated Hermes Inc.

Federated Hermes Inc. increased its position in shares of Astronics Corporation (NASDAQ:ATRO) by 56.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,980 shares of the aerospace company’s stock after purchasing an additional 20,136 shares during the period. Federated Hermes Inc. owned 0.16% of Astronics worth $1,353,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ATRO. Signaturefd LLC raised its position in Astronics by 88.5% in the first quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock worth $35,000 after acquiring an additional 679 shares in the last quarter. CWM LLC grew its stake in shares of Astronics by 192.2% in the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock worth $63,000 after purchasing an additional 1,705 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Astronics by 167.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after purchasing an additional 2,600 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Astronics during the fourth quarter valued at approximately $73,000. Finally, GAMMA Investing LLC boosted its holdings in Astronics by 16,616.7% during the first quarter. GAMMA Investing LLC now owns 6,018 shares of the aerospace company’s stock worth $145,000 after buying an additional 5,982 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Trading Down 1.3%

Astronics stock opened at $35.37 on Thursday. Astronics Corporation has a 52 week low of $14.13 and a 52 week high of $37.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 2.74. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -294.73 and a beta of 1.64. The company has a 50 day moving average price of $33.78 and a 200 day moving average price of $26.63.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.19. Astronics had a positive return on equity of 18.45% and a negative net margin of 0.43%. The firm had revenue of $205.94 million during the quarter, compared to the consensus estimate of $192.53 million. Research analysts forecast that Astronics Corporation will post 0.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ATRO. Wall Street Zen cut Astronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 21st. Truist Financial upgraded Astronics from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Friday, July 11th.

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.