Astronics Corporation $ATRO Position Reduced by MetLife Investment Management LLC

MetLife Investment Management LLC cut its position in shares of Astronics Corporation (NASDAQ:ATRO) by 10.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,211 shares of the aerospace company’s stock after selling 2,070 shares during the quarter. MetLife Investment Management LLC’s holdings in Astronics were worth $416,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Millennium Management LLC lifted its position in shares of Astronics by 881.6% in the fourth quarter. Millennium Management LLC now owns 414,823 shares of the aerospace company’s stock worth $6,621,000 after purchasing an additional 372,565 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Astronics by 493.7% in the fourth quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company’s stock worth $5,798,000 after purchasing an additional 302,092 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Astronics in the first quarter worth approximately $5,521,000. Nuveen LLC purchased a new stake in shares of Astronics in the first quarter worth approximately $3,947,000. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Astronics by 310.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 203,341 shares of the aerospace company’s stock worth $3,245,000 after purchasing an additional 153,839 shares in the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ATRO. Wall Street Zen lowered shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 9th. Truist Financial raised shares of Astronics from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Friday, July 11th. Finally, Zacks Research raised shares of Astronics to a “strong-buy” rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, Astronics currently has a consensus rating of “Strong Buy” and a consensus price target of $49.00.

Astronics Price Performance

Shares of ATRO opened at $38.39 on Tuesday. The firm has a market cap of $1.36 billion, a PE ratio of -319.89 and a beta of 1.69. The firm’s 50 day moving average price is $34.70 and its 200 day moving average price is $29.49. 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 Corporation has a twelve month low of $14.13 and a twelve month high of $39.50.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $208.29 million. As a group, research analysts expect that Astronics Corporation will post 0.82 EPS for the current fiscal year.

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.