Astronics Corporation $ATRO Stake Cut by Teton Advisors LLC

Teton Advisors LLC lessened its stake in shares of Astronics Corporation (NASDAQ:ATRO) by 30.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,000 shares of the aerospace company’s stock after selling 33,000 shares during the quarter. Astronics comprises 2.9% of Teton Advisors LLC’s portfolio, making the stock its 3rd largest holding. Teton Advisors LLC owned approximately 0.22% of Astronics worth $4,176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Astronics by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 1,975,693 shares of the aerospace company’s stock valued at $107,162,000 after acquiring an additional 39,527 shares during the period. Capital International Investors bought a new stake in Astronics during the 3rd quarter worth approximately $64,173,000. Luxor Capital Group LP purchased a new stake in Astronics in the 3rd quarter worth approximately $52,698,000. Millennium Management LLC lifted its stake in Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after purchasing an additional 332,133 shares in the last quarter. Finally, Private Capital Management LLC boosted its holdings in Astronics by 39.4% in the 3rd quarter. Private Capital Management LLC now owns 561,257 shares of the aerospace company’s stock valued at $25,599,000 after purchasing an additional 158,714 shares during the period. 56.68% of the stock is currently owned by institutional investors.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $78.59 on Monday. The company’s fifty day moving average price is $72.26 and its 200-day moving average price is $65.88. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.63. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 66.60 and a beta of 1.10. Astronics Corporation has a one year low of $27.27 and a one year high of $83.96.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $230.62 million during 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%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. On average, equities research analysts anticipate that Astronics Corporation will post 2.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Wall Street Zen raised Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Finally, Zacks Research lowered Astronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.33.

Astronics Company Profile

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.