Goldman Sachs Group Inc. raised its position in shares of Astronics Co. (NASDAQ:ATRO) by 98.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 48,465 shares of the aerospace company’s stock after purchasing an additional 24,041 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.17% of Astronics worth $2,010,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. First Trust Advisors LP increased its position in Astronics by 9.0% during the 4th quarter. First Trust Advisors LP now owns 22,566 shares of the aerospace company’s stock valued at $936,000 after purchasing an additional 1,867 shares during the period. New York State Common Retirement Fund increased its position in Astronics by 5.8% during the 3rd quarter. New York State Common Retirement Fund now owns 36,908 shares of the aerospace company’s stock valued at $1,098,000 after purchasing an additional 2,035 shares during the period. Mutual of America Capital Management LLC increased its position in Astronics by 3.1% during the 4th quarter. Mutual of America Capital Management LLC now owns 97,625 shares of the aerospace company’s stock valued at $4,049,000 after purchasing an additional 2,949 shares during the period. Aperio Group LLC acquired a new stake in Astronics during the 4th quarter valued at approximately $283,000. Finally, Teacher Retirement System of Texas acquired a new stake in Astronics during the 4th quarter valued at approximately $308,000. 68.94% of the stock is owned by institutional investors and hedge funds.
ATRO has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Astronics from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Zacks Investment Research downgraded shares of Astronics from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. SunTrust Banks reissued a “hold” rating and set a $48.00 target price on shares of Astronics in a research report on Friday, January 19th. Finally, Canaccord Genuity reissued a “buy” rating and set a $50.00 target price (up previously from $48.00) on shares of Astronics in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $45.00.
In other Astronics news, CEO Peter J. Gundermann sold 2,000 shares of the stock in a transaction that occurred on Friday, April 6th. The stock was sold at an average price of $36.34, for a total transaction of $72,680.00. Following the transaction, the chief executive officer now directly owns 13,595 shares in the company, valued at approximately $494,042.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 20,000 shares of company stock worth $791,500 over the last 90 days. Company insiders own 16.45% of the company’s stock.
Astronics stock opened at $37.97 on Tuesday. The company has a market cap of $1,028.86, a price-to-earnings ratio of 30.38, a price-to-earnings-growth ratio of 2.09 and a beta of 1.56. Astronics Co. has a 52-week low of $23.95 and a 52-week high of $49.45. The company has a current ratio of 3.06, a quick ratio of 1.60 and a debt-to-equity ratio of 0.82.
Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Monday, February 26th. The aerospace company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The business had revenue of $171.32 million for the quarter, compared to the consensus estimate of $179.33 million. Astronics had a return on equity of 10.82% and a net margin of 3.15%. sell-side analysts forecast that Astronics Co. will post 1.75 EPS for the current year.
Astronics declared that its board has initiated a share repurchase program on Monday, December 18th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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Astronics Company Profile
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.
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