Minerva Advisors LLC Sells 92,797 Shares of Astronics Corporation $ATRO

Minerva Advisors LLC reduced its position in Astronics Corporation (NASDAQ:ATRO) by 47.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,244 shares of the aerospace company’s stock after selling 92,797 shares during the period. Astronics makes up approximately 3.7% of Minerva Advisors LLC’s holdings, making the stock its 8th largest holding. Minerva Advisors LLC’s holdings in Astronics were worth $5,546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ATRO. Capital International Investors acquired a new position in shares of Astronics in the 3rd quarter valued at about $64,173,000. Luxor Capital Group LP acquired a new position in shares of Astronics in the 3rd quarter valued at about $52,698,000. Millennium Management LLC lifted its stake in shares of Astronics by 80.1% in the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after purchasing an additional 332,133 shares in the last quarter. SG Capital Management LLC acquired a new position in shares of Astronics in the 3rd quarter valued at about $11,617,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Astronics by 4,791.1% in the 3rd quarter. Lazard Asset Management LLC now owns 236,140 shares of the aerospace company’s stock valued at $10,770,000 after purchasing an additional 231,312 shares in the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

Astronics Price Performance

ATRO stock opened at $80.86 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 2.97 and a debt-to-equity ratio of 2.07. Astronics Corporation has a 52-week low of $27.27 and a 52-week high of $86.27. The stock’s 50 day moving average is $73.19 and its two-hundred day moving average is $67.22. The company has a market capitalization of $2.90 billion, a PE ratio of 68.53 and a beta of 1.10.

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 the consensus estimate of $0.55 by $0.04. Astronics had a return on equity of 49.34% and a net margin of 5.12%.The company had revenue of $230.62 million for the quarter, compared to the consensus estimate of $225.52 million. During the same period in the previous year, the business earned $0.44 EPS. Astronics’s revenue for the quarter was up 12.0% compared to the same quarter last year. Analysts predict that Astronics Corporation will post 2.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ATRO. Truist Financial upgraded Astronics to a “strong-buy” rating in a report on Monday, May 4th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Zacks Research downgraded Astronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.