Nordea Investment Management AB Takes Position in Astronics Corporation $ATRO

Nordea Investment Management AB acquired a new stake in shares of Astronics Corporation (NASDAQ:ATRO) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 92,185 shares of the aerospace company’s stock, valued at approximately $4,137,000. Nordea Investment Management AB owned approximately 0.26% of Astronics as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in shares of Astronics during the 3rd quarter worth about $81,000. KLP Kapitalforvaltning AS increased its stake in shares of Astronics by 13.0% during the third quarter. KLP Kapitalforvaltning AS now owns 5,200 shares of the aerospace company’s stock valued at $237,000 after acquiring an additional 600 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in Astronics by 75.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the aerospace company’s stock worth $2,014,000 after purchasing an additional 19,029 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in Astronics by 56.8% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 17,400 shares of the aerospace company’s stock worth $794,000 after purchasing an additional 6,300 shares during the period. Finally, Tripletail Wealth Management LLC bought a new position in Astronics during the 3rd quarter valued at $64,000. Institutional investors own 56.68% of the company’s stock.

Astronics Stock Up 3.2%

Shares of NASDAQ:ATRO opened at $74.71 on Monday. The firm has a 50 day simple moving average of $55.17 and a 200 day simple moving average of $45.40. Astronics Corporation has a 52 week low of $16.69 and a 52 week high of $75.80. The company has a debt-to-equity ratio of 3.07, a quick ratio of 1.56 and a current ratio of 2.87. The company has a market cap of $2.66 billion, a PE ratio of -830.02 and a beta of 1.10.

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. Cowen initiated coverage on Astronics in a research note on Wednesday, November 26th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, October 8th. Craig Hallum restated a “buy” rating on shares of Astronics in a research report on Friday, January 9th. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Finally, TD Cowen initiated coverage on shares of Astronics in a report on Wednesday, November 26th. They set a “buy” rating and a $65.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Astronics Profile

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.