VIRGINIA RETIREMENT SYSTEMS ET Al Increases Stock Position in Astronics Corporation $ATRO

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Astronics Corporation (NASDAQ:ATRO) by 47.4% during the 4th quarter, Holdings Channel reports. The firm owned 25,650 shares of the aerospace company’s stock after purchasing an additional 8,250 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Astronics were worth $1,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ATRO. AQR Capital Management LLC lifted its holdings in shares of Astronics by 20.4% in the first quarter. AQR Capital Management LLC now owns 112,210 shares of the aerospace company’s stock valued at $2,712,000 after purchasing an additional 18,975 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Astronics by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,491 shares of the aerospace company’s stock valued at $423,000 after purchasing an additional 1,069 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Astronics by 80.1% during the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after buying an additional 332,133 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Astronics by 26.1% during the first quarter. Goldman Sachs Group Inc. now owns 222,486 shares of the aerospace company’s stock valued at $5,377,000 after buying an additional 46,054 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Astronics by 22.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,791 shares of the aerospace company’s stock valued at $1,735,000 after buying an additional 13,104 shares during the period. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Analyst Ratings Changes

ATRO has been the topic of several recent analyst reports. Truist Financial raised shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Monday, April 20th. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Finally, Zacks Research downgraded shares of Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Astronics currently has a consensus rating of “Moderate Buy” and an average price target of $77.33.

Astronics Stock Performance

NASDAQ:ATRO opened at $78.59 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. The company has a market cap of $2.80 billion, a P/E ratio of 66.60 and a beta of 1.10. Astronics Corporation has a fifty-two week low of $27.27 and a fifty-two week high of $83.96. The firm’s 50 day moving average is $72.26 and its two-hundred day moving average is $65.77.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $230.62 million for the quarter, compared to the consensus estimate of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. Astronics’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. Analysts expect that Astronics Corporation will post 2.65 EPS for the current 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.