Acadian Asset Management LLC Sells 92,628 Shares of Astronics Corporation $ATRO

Acadian Asset Management LLC reduced its holdings in Astronics Corporation (NASDAQ:ATRO) by 55.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,403 shares of the aerospace company’s stock after selling 92,628 shares during the quarter. Acadian Asset Management LLC owned about 0.21% of Astronics worth $1,818,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ATRO. Northern Trust Corp lifted its stake in shares of Astronics by 5.4% in the 4th quarter. Northern Trust Corp now owns 257,633 shares of the aerospace company’s stock valued at $4,112,000 after purchasing an additional 13,086 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Astronics by 493.7% in the 4th quarter. Ameriprise Financial Inc. now owns 363,286 shares of the aerospace company’s stock valued at $5,798,000 after purchasing an additional 302,092 shares during the period. Bank of America Corp DE raised its stake in Astronics by 48.2% during the fourth quarter. Bank of America Corp DE now owns 35,129 shares of the aerospace company’s stock valued at $561,000 after buying an additional 11,427 shares during the last quarter. Deutsche Bank AG raised its stake in Astronics by 10.8% during the fourth quarter. Deutsche Bank AG now owns 90,509 shares of the aerospace company’s stock valued at $1,445,000 after buying an additional 8,859 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Astronics by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,422 shares of the aerospace company’s stock valued at $262,000 after buying an additional 684 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Stock Performance

NASDAQ:ATRO opened at $40.15 on Wednesday. The stock has a 50-day simple moving average of $35.63 and a two-hundred day simple moving average of $30.28. Astronics Corporation has a 52-week low of $14.13 and a 52-week high of $46.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 3.04. The firm has a market capitalization of $1.42 billion, a PE ratio of -334.56 and a beta of 1.69.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share (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 business had revenue of $204.68 million during the quarter, compared to analyst estimates of $208.29 million. Analysts forecast that Astronics Corporation will post 0.82 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Astronics

In other news, insider James Mulato sold 1,129 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $38.16, for a total value of $43,082.64. Following the transaction, the insider directly owned 1,066 shares in the company, valued at $40,678.56. The trade was a 51.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.83% of the stock is owned by insiders.

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.