Skylands Capital LLC Sells 10,600 Shares of Astronics Corporation $ATRO

Skylands Capital LLC reduced its position in Astronics Corporation (NASDAQ:ATRO) by 26.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,800 shares of the aerospace company’s stock after selling 10,600 shares during the period. Skylands Capital LLC’s holdings in Astronics were worth $1,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ATRO. Vanguard Group Inc. grew its stake in shares of Astronics by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock valued at $107,162,000 after purchasing an additional 39,527 shares during the period. Capital International Investors bought a new position in shares of Astronics in the 3rd quarter worth approximately $64,173,000. Luxor Capital Group LP purchased a new position in shares of Astronics in the third quarter worth approximately $52,698,000. Millennium Management LLC boosted its holdings in shares of Astronics by 80.1% in the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after buying an additional 332,133 shares during the last quarter. Finally, Private Capital Management LLC increased its holdings in Astronics by 39.4% during the third quarter. Private Capital Management LLC now owns 561,257 shares of the aerospace company’s stock valued at $25,599,000 after buying an additional 158,714 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Price Performance

NASDAQ ATRO opened at $73.41 on Tuesday. The company has a current ratio of 3.10, a quick ratio of 1.71 and a debt-to-equity ratio of 2.39. Astronics Corporation has a 12 month low of $21.74 and a 12 month high of $83.96. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 95.34 and a beta of 1.11. The company’s 50 day moving average is $72.94 and its two-hundred day moving average is $63.55.

Astronics (NASDAQ:ATRO) last posted its quarterly 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 business had revenue of $240.07 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. As a group, research analysts anticipate that Astronics Corporation will post 2.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ATRO shares. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Truist Financial upped their price objective on Astronics from $75.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Craig Hallum reiterated a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Finally, Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $77.33.

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.