American Century Companies Inc. Acquires 199,059 Shares of Astronics Corporation $ATRO

American Century Companies Inc. grew its holdings in Astronics Corporation (NASDAQ:ATRO) by 58.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 539,006 shares of the aerospace company’s stock after buying an additional 199,059 shares during the quarter. American Century Companies Inc. owned approximately 1.52% of Astronics worth $24,584,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ATRO. Brighton Jones LLC raised its holdings in shares of Astronics by 3.1% during the third quarter. Brighton Jones LLC now owns 7,085 shares of the aerospace company’s stock valued at $323,000 after acquiring an additional 216 shares in the last quarter. Covestor Ltd lifted its stake in Astronics by 25.4% in the third quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 216 shares during the period. US Bancorp DE boosted its holdings in Astronics by 41.0% in the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 281 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Astronics by 13.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,091 shares of the aerospace company’s stock valued at $103,000 after acquiring an additional 369 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in Astronics by 2.3% during the 2nd quarter. Captrust Financial Advisors now owns 19,220 shares of the aerospace company’s stock valued at $643,000 after purchasing an additional 435 shares during the period. 56.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ATRO has been the subject of several research reports. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Craig Hallum reiterated a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Wednesday, January 21st. TD Cowen initiated coverage on shares of Astronics in a report on Wednesday, November 26th. They issued a “buy” rating for the company. Finally, Truist Financial lifted their price objective on Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $77.33.

Astronics Stock Performance

Shares of Astronics stock opened at $75.99 on Monday. Astronics Corporation has a 12 month low of $19.89 and a 12 month high of $83.96. The firm has a market capitalization of $2.71 billion, a P/E ratio of 98.69 and a beta of 1.06. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39. The business has a fifty day simple moving average of $72.70 and a two-hundred day simple moving average of $56.02.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. The firm had revenue of $240.07 million for the quarter, compared to the consensus estimate of $237.11 million. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. On average, equities analysts forecast that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

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.