Teacher Retirement System of Texas Purchases Shares of 7,428 Astronics Co. (ATRO)
Teacher Retirement System of Texas purchased a new stake in Astronics Co. (NASDAQ:ATRO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,428 shares of the aerospace company’s stock, valued at approximately $308,000.
Several other hedge funds also recently modified their holdings of ATRO. Paradice Investment Management LLC bought a new stake in shares of Astronics in the third quarter valued at approximately $14,771,000. International Value Advisers LLC bought a new stake in shares of Astronics in the third quarter valued at approximately $12,133,000. Minerva Advisors LLC boosted its stake in shares of Astronics by 308.3% in the fourth quarter. Minerva Advisors LLC now owns 136,723 shares of the aerospace company’s stock valued at $5,670,000 after buying an additional 103,234 shares during the period. Citadel Advisors LLC boosted its stake in shares of Astronics by 64.6% in the third quarter. Citadel Advisors LLC now owns 95,129 shares of the aerospace company’s stock valued at $2,830,000 after buying an additional 37,329 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Astronics by 141.8% in the third quarter. Russell Investments Group Ltd. now owns 44,324 shares of the aerospace company’s stock valued at $1,319,000 after buying an additional 25,994 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.
Several equities research analysts recently issued reports on ATRO shares. Zacks Investment Research upgraded Astronics from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Tuesday, January 2nd. BidaskClub upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Dougherty & Co boosted their price objective on shares of Astronics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 4th. Canaccord Genuity restated a “buy” rating and set a $46.00 price objective on shares of Astronics in a research report on Tuesday, December 12th. Finally, SunTrust Banks restated a “hold” rating and set a $44.00 price objective on shares of Astronics in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.
Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Monday, February 26th. The aerospace company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.03). Astronics had a net margin of 3.15% and a return on equity of 10.82%. The firm had revenue of $171.32 million for the quarter, compared to analyst estimates of $179.33 million. equities research analysts anticipate that Astronics Co. will post 1.75 EPS for the current year.
Astronics declared that its Board of Directors has initiated a stock repurchase program on Monday, December 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other news, VP Mark Peabody sold 2,000 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $44.16, for a total transaction of $88,320.00. Following the completion of the transaction, the vice president now directly owns 23,368 shares in the company, valued at $1,031,930.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 14,000 shares of company stock valued at $573,300 over the last quarter. Company insiders own 16.45% of the company’s stock.
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Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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