Acadian Asset Management LLC Grows Position in Astronics Corporation $ATRO

Acadian Asset Management LLC lifted its position in Astronics Corporation (NASDAQ:ATRO) by 95.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,743 shares of the aerospace company’s stock after purchasing an additional 72,340 shares during the period. Acadian Asset Management LLC owned about 0.42% of Astronics worth $4,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ATRO. Vanguard Group Inc. increased its holdings in Astronics by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,601,632 shares of the aerospace company’s stock valued at $38,711,000 after buying an additional 27,025 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after acquiring an additional 332,133 shares in the last quarter. Senator Investment Group LP grew its position in shares of Astronics by 7.6% during the 1st quarter. Senator Investment Group LP now owns 708,883 shares of the aerospace company’s stock valued at $17,134,000 after acquiring an additional 50,000 shares during the period. Earnest Partners LLC purchased a new position in shares of Astronics in the 1st quarter valued at about $12,774,000. Finally, Hennessy Advisors Inc. purchased a new position in shares of Astronics in the 2nd quarter valued at about $15,046,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ATRO shares. Craig Hallum began coverage on Astronics in a research report on Friday, October 10th. They set a “buy” rating and a $60.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Truist Financial upped their price objective on shares of Astronics from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Astronics Stock Up 0.4%

ATRO stock opened at $49.19 on Friday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -409.88 and a beta of 1.63. The firm has a 50-day moving average of $45.78 and a two-hundred day moving average of $37.15. Astronics Corporation has a 12 month low of $14.13 and a 12 month high of $51.88. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, November 4th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. Astronics had a positive return on equity of 22.89% and a negative net margin of 0.45%.The business had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. Astronics has set its FY 2025 guidance at EPS. As a group, analysts forecast that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Insider Transactions at Astronics

In other Astronics news, insider James Mulato sold 1,129 shares of Astronics stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $38.16, for a total transaction of $43,082.64. Following the transaction, the insider directly owned 1,066 shares of the company’s stock, valued at $40,678.56. The trade was a 51.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.39% of the company’s stock.

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.