SG Americas Securities LLC Makes New Investment in Astronics Corporation $ATRO

SG Americas Securities LLC bought a new position in Astronics Corporation (NASDAQ:ATRO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 42,023 shares of the aerospace company’s stock, valued at approximately $2,279,000. SG Americas Securities LLC owned 0.12% of Astronics at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Nordea Investment Management AB acquired a new stake in Astronics in the third quarter valued at approximately $4,137,000. Capital International Investors acquired a new position in shares of Astronics during the third quarter worth $64,173,000. Vanguard Group Inc. lifted its position in shares of Astronics by 5.8% during the third quarter. Vanguard Group Inc. now owns 1,936,166 shares of the aerospace company’s stock worth $88,309,000 after purchasing an additional 105,311 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Astronics in the third quarter valued at $2,204,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in Astronics by 74.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock valued at $1,508,000 after purchasing an additional 14,160 shares in the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ATRO has been the topic of a number of recent analyst reports. Craig Hallum reiterated a “buy” rating on shares of Astronics in a report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, January 21st. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. CJS Securities raised Astronics to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Truist Financial raised their price objective on Astronics from $75.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $77.33.

Astronics Stock Performance

Shares of Astronics stock opened at $69.84 on Friday. The firm has a market cap of $2.49 billion, a PE ratio of 90.70 and a beta of 1.11. The firm’s 50-day simple moving average is $73.70 and its 200-day simple moving average is $60.11. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.71 and a current ratio of 3.10. Astronics Corporation has a 1 year low of $19.89 and a 1 year high of $83.96.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, February 24th. The aerospace company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.12. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The business had revenue of $240.07 million during the quarter, compared to the consensus estimate of $237.11 million. During the same period last year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. 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.