AlphaQuest LLC Makes New $351,000 Investment in Astronics Corporation $ATRO

AlphaQuest LLC purchased a new stake in Astronics Corporation (NASDAQ:ATRO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,698 shares of the aerospace company’s stock, valued at approximately $351,000.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC boosted its holdings in shares of Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after purchasing an additional 332,133 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Astronics by 3.1% during the second quarter. Geode Capital Management LLC now owns 736,327 shares of the aerospace company’s stock worth $24,655,000 after purchasing an additional 22,134 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Astronics by 8.4% in the second quarter. Ameriprise Financial Inc. now owns 442,324 shares of the aerospace company’s stock worth $14,809,000 after buying an additional 34,230 shares during the period. Marshall Wace LLP grew its stake in shares of Astronics by 57.1% in the second quarter. Marshall Wace LLP now owns 436,051 shares of the aerospace company’s stock valued at $14,599,000 after buying an additional 158,544 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Astronics by 186.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 352,075 shares of the aerospace company’s stock valued at $11,787,000 after buying an additional 228,958 shares during the period. 56.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Craig Hallum reiterated a “buy” rating on shares of Astronics in a research report on Friday, January 9th. TD Cowen assumed coverage on shares of Astronics in a research report on Wednesday, November 26th. They issued a “buy” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. Finally, CJS Securities raised Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Astronics currently has a consensus rating of “Buy” and a consensus target price of $66.67.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $76.58 on Friday. Astronics Corporation has a 12-month low of $18.28 and a 12-month high of $81.89. The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07. The company has a market cap of $2.73 billion, a P/E ratio of -850.79 and a beta of 1.10. The company’s fifty day moving average is $62.96 and its two-hundred day moving average is $49.77.

Astronics Company 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.