Flputnam Investment Management Co. Buys Shares of 8,451 Astronics Corporation $ATRO

Flputnam Investment Management Co. bought a new stake in Astronics Corporation (NASDAQ:ATRO) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 8,451 shares of the aerospace company’s stock, valued at approximately $686,000.

A number of other institutional investors have also recently made changes to their positions in ATRO. Quarry LP raised its holdings in Astronics by 33.6% during the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 143 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Astronics by 19.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,137 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 188 shares during the period. Allworth Financial LP grew its position in shares of Astronics by 57.1% in the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. US Bancorp DE raised its stake in shares of Astronics by 41.0% during the 3rd quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 281 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Astronics by 24.5% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,525 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Analyst Ratings Changes

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

Astronics Trading Down 2.7%

ATRO opened at $73.67 on Tuesday. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 43.34 and a beta of 1.15. Astronics Corporation has a one year low of $29.65 and a one year high of $94.46. The business has a 50 day simple moving average of $75.82 and a two-hundred day simple moving average of $68.54. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.97 and a quick ratio of 1.63.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. Astronics had a net margin of 8.40% and a return on equity of 67.69%. The firm had revenue of $259.96 million for the quarter, compared to the consensus estimate of $245.30 million. Astronics’s quarterly revenue was up 46.9% compared to the same quarter last year. Analysts predict that Astronics Corporation will post 2.74 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.