21,590 Shares in Astronics Corporation $ATRO Purchased by Globeflex Capital L P

Globeflex Capital L P purchased a new stake in shares of Astronics Corporation (NASDAQ:ATRO) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 21,590 shares of the aerospace company’s stock, valued at approximately $1,754,000.

Several other large investors have also recently added to or reduced their stakes in ATRO. Vanguard Group Inc. grew its holdings 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 worth $107,162,000 after purchasing an additional 39,527 shares in the last quarter. Emerald Advisers LLC raised its stake in shares of Astronics by 85.0% in the first quarter. Emerald Advisers LLC now owns 449,126 shares of the aerospace company’s stock valued at $29,970,000 after purchasing an additional 206,399 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in Astronics by 78.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 279,159 shares of the aerospace company’s stock worth $18,628,000 after purchasing an additional 122,440 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Astronics by 20.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 79,689 shares of the aerospace company’s stock worth $6,476,000 after purchasing an additional 13,613 shares during the period. Finally, Bank of America Corp DE boosted its stake in Astronics by 81.9% during the first quarter. Bank of America Corp DE now owns 199,722 shares of the aerospace company’s stock worth $13,327,000 after buying an additional 89,950 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ATRO. TD Cowen boosted their price target on shares of Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a report on Thursday, May 28th. Zacks Research raised shares of Astronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Astronics in a research report on Friday, July 17th. Truist Financial raised shares of Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $74.17.

Astronics Stock Performance

Astronics stock opened at $74.75 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.97 and a quick ratio of 1.63. The stock has a fifty day moving average price of $76.20 and a two-hundred day moving average price of $68.08. Astronics Corporation has a 52-week low of $29.65 and a 52-week high of $94.46. The firm has a market capitalization of $3.21 billion, a P/E ratio of 43.97 and a beta of 1.15.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.59 by $0.11. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The company had revenue of $259.96 million for the quarter, compared to the consensus estimate of $245.30 million. The company’s quarterly revenue was up 46.9% compared to the same quarter last year. As a group, analysts anticipate that Astronics Corporation will post 2.74 EPS for the current fiscal year.

Astronics 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.