Fisher Asset Management LLC Reduces Stake in Astronics Corporation $ATRO

Fisher Asset Management LLC cut its position in shares of Astronics Corporation (NASDAQ:ATRO) by 16.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 86,301 shares of the aerospace company’s stock after selling 16,438 shares during the quarter. Fisher Asset Management LLC owned 0.24% of Astronics worth $2,889,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its position in shares of Astronics by 13.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the aerospace company’s stock worth $103,000 after buying an additional 369 shares in the last quarter. White Pine Capital LLC raised its position in Astronics by 1.0% during the second quarter. White Pine Capital LLC now owns 72,090 shares of the aerospace company’s stock worth $2,414,000 after acquiring an additional 732 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Astronics by 1.6% in the second quarter. Swiss National Bank now owns 49,700 shares of the aerospace company’s stock valued at $1,664,000 after purchasing an additional 800 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in shares of Astronics by 17.9% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,018 shares of the aerospace company’s stock valued at $235,000 after purchasing an additional 1,067 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Astronics by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock worth $423,000 after purchasing an additional 1,069 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Wall Street Analysts Forecast Growth

ATRO has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a report on Wednesday, October 8th. Wall Street Zen lowered Astronics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Truist Financial upped their target price on shares of Astronics from $49.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, TD Cowen started coverage on shares of Astronics in a report on Wednesday, November 26th. They set a “buy” rating and a $65.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.00.

Astronics Stock Performance

NASDAQ ATRO opened at $51.14 on Friday. The business’s 50-day moving average price is $49.01 and its 200 day moving average price is $39.92. The company has a current ratio of 2.87, a quick ratio of 1.56 and a debt-to-equity ratio of 3.07. Astronics Corporation has a twelve month low of $15.41 and a twelve month high of $55.28. The company has a market capitalization of $1.82 billion, a PE ratio of -568.16 and a beta of 1.12.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.07. Astronics had a negative net margin of 0.37% and a positive return on equity of 29.65%. The company had revenue of $211.45 million during the quarter, compared to the consensus estimate of $210.80 million. On average, research analysts predict that Astronics Corporation will post 0.82 earnings per share for the current year.

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.