Swiss National Bank Decreases Holdings in Astronics Corporation $ATRO

Swiss National Bank cut its holdings in shares of Astronics Corporation (NASDAQ:ATRO) by 10.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,900 shares of the aerospace company’s stock after selling 5,900 shares during the quarter. Swiss National Bank owned 0.14% of Astronics worth $1,182,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC raised its stake in shares of Astronics by 88.5% during 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 raised its stake in shares of Astronics by 192.2% during the first quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock worth $63,000 after acquiring an additional 1,705 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Astronics by 167.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after acquiring an additional 2,600 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 5,982 shares in the last quarter. Finally, Equitable Trust Co. purchased a new position in shares of Astronics during the first quarter worth approximately $251,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research raised shares of Astronics to a “strong-buy” rating in a research note on Friday, August 8th. Wall Street Zen downgraded shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Truist Financial raised shares of Astronics from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, Astronics currently has an average rating of “Strong Buy” and an average price target of $49.00.

Astronics Stock Performance

NASDAQ:ATRO opened at $36.43 on Tuesday. The stock has a market cap of $1.29 billion, a P/E ratio of -303.56 and a beta of 1.64. The firm’s fifty day simple moving average is $33.94 and its 200 day simple moving average is $28.20. Astronics Corporation has a twelve month low of $14.13 and a twelve month high of $37.31. The company has a quick ratio of 1.63, a current ratio of 3.04 and a debt-to-equity ratio of 0.59.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. The business had revenue of $204.68 million for the quarter, compared to analysts’ expectations of $208.29 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. As a group, research analysts predict that Astronics Corporation will post 0.82 EPS for the current year.

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.