Astronics Corporation $ATRO Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Astronics Corporation (NASDAQ:ATRO) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,347 shares of the aerospace company’s stock after purchasing an additional 4,174 shares during the period. Charles Schwab Investment Management Inc. owned 0.24% of Astronics worth $2,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Astronics by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,601,632 shares of the aerospace company’s stock worth $38,711,000 after purchasing an additional 27,025 shares in the last quarter. XTX Topco Ltd lifted its position in Astronics by 28.1% during the 1st quarter. XTX Topco Ltd now owns 22,357 shares of the aerospace company’s stock worth $540,000 after acquiring an additional 4,907 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Astronics by 56.2% in the 1st quarter. Federated Hermes Inc. now owns 55,980 shares of the aerospace company’s stock worth $1,353,000 after acquiring an additional 20,136 shares during the period. Equitable Trust Co. acquired a new stake in Astronics in the first quarter valued at approximately $251,000. Finally, Avantax Advisory Services Inc. acquired a new stake in Astronics in the first quarter valued at approximately $1,043,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Astronics Price Performance

ATRO opened at $36.37 on Monday. The company has a 50-day moving average of $34.19 and a 200-day moving average of $28.71. Astronics Corporation has a 1-year low of $14.13 and a 1-year high of $38.26. The company has a market capitalization of $1.29 billion, a P/E ratio of -303.06 and a beta of 1.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04.

Astronics (NASDAQ:ATRO) last issued its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%.The company had revenue of $204.68 million during the quarter, compared to analyst estimates of $208.29 million. Equities analysts expect that Astronics Corporation will post 0.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ATRO has been the topic of a number of recent research reports. 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 report on Friday, July 11th. 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, Zacks Research raised shares of Astronics to a “strong-buy” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Strong Buy” and an average price target of $49.00.

Astronics 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.