Gabelli Funds LLC Sells 7,261 Shares of Astronics Corporation $ATRO

Gabelli Funds LLC trimmed its position in shares of Astronics Corporation (NASDAQ:ATRO) by 17.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 34,065 shares of the aerospace company’s stock after selling 7,261 shares during the quarter. Gabelli Funds LLC’s holdings in Astronics were worth $1,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP raised its stake in shares of Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Astronics by 389.6% during the third quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 448 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Astronics by 166.7% during the third quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 470 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Astronics by 147.6% during the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 533 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Astronics by 41.0% during the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 281 shares during the last quarter. 56.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ATRO shares. Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Monday, April 20th. Truist Financial upgraded shares of Astronics to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.33.

Astronics Price Performance

Shares of ATRO opened at $80.86 on Friday. The stock has a market cap of $2.90 billion, a PE ratio of 68.53 and a beta of 1.10. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. Astronics Corporation has a fifty-two week low of $27.27 and a fifty-two week high of $86.27. The firm’s 50-day simple moving average is $72.93 and its two-hundred day simple moving average is $66.86.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data 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 business had revenue of $230.62 million for the quarter, compared to analysts’ expectations of $225.52 million. Astronics had a net margin of 5.12% and a return on equity of 49.34%. The business’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. Analysts anticipate that Astronics Corporation will post 2.68 earnings per share for the current fiscal 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.