Hsbc Holdings PLC Has $8.12 Million Stock Position in Astronics Corporation $ATRO

Hsbc Holdings PLC grew its holdings in Astronics Corporation (NASDAQ:ATRO) by 2,291.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 148,309 shares of the aerospace company’s stock after acquiring an additional 142,107 shares during the quarter. Hsbc Holdings PLC’s holdings in Astronics were worth $8,120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. IFP Advisors Inc increased its position in Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 448 shares during the period. Allworth Financial LP boosted its holdings in Astronics by 57.1% in the 4th quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 192 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Astronics by 147.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 533 shares during the period. Quarry LP grew its position in shares of Astronics by 33.6% during the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 143 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of Astronics during the 4th quarter worth approximately $33,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $71.17 on Thursday. The firm has a 50 day moving average of $71.71 and a 200-day moving average of $63.50. Astronics Corporation has a 12 month low of $22.73 and a 12 month high of $88.72. The company has a current ratio of 2.97, a quick ratio of 1.63 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of $3.06 billion, a PE ratio of 72.38 and a beta of 1.13.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The business had revenue of $230.62 million for the quarter, compared to analyst estimates of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. On average, equities research analysts predict that Astronics Corporation will post 2.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ATRO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 21st. Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Truist Financial raised Astronics to a “strong-buy” rating in a report on Monday, May 4th. Finally, TD Cowen upped their target price on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Astronics presently has an average rating of “Moderate Buy” and a consensus price target of $74.17.

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.