Principal Financial Group Inc. Invests $2.20 Million in Astronics Corporation $ATRO

Principal Financial Group Inc. bought a new stake in Astronics Corporation (NASDAQ:ATRO) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 48,314 shares of the aerospace company’s stock, valued at approximately $2,204,000. Principal Financial Group Inc. owned approximately 0.14% of Astronics as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ATRO. Nordea Investment Management AB bought a new stake in shares of Astronics in the 3rd quarter worth about $4,137,000. Y Intercept Hong Kong Ltd raised its position in Astronics by 74.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock worth $1,508,000 after purchasing an additional 14,160 shares during the period. Ellsworth Advisors LLC purchased a new stake in Astronics in the 3rd quarter worth about $918,000. Hennion & Walsh Asset Management Inc. lifted its stake in Astronics by 75.7% in 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 during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Astronics by 112.1% during the third quarter. Assenagon Asset Management S.A. now owns 84,656 shares of the aerospace company’s stock valued at $3,861,000 after buying an additional 44,747 shares during the period. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Price Performance

Shares of ATRO opened at $76.97 on Wednesday. The stock has a market capitalization of $2.74 billion, a PE ratio of -855.13 and a beta of 1.10. The company has a 50 day moving average price of $66.33 and a 200-day moving average price of $51.92. The company has a debt-to-equity ratio of 3.07, a quick ratio of 1.56 and a current ratio of 2.87. Astronics Corporation has a fifty-two week low of $18.54 and a fifty-two week high of $81.89.

Analyst Ratings Changes

ATRO has been the topic of several recent analyst reports. CJS Securities upgraded Astronics to a “strong-buy” rating in a report on Thursday, December 11th. TD Cowen assumed 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, January 21st. Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $66.67.

About Astronics

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.