United Services Automobile Association boosted its holdings in Astronics Co. (NASDAQ:ATRO) by 58.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,558 shares of the aerospace company’s stock after purchasing an additional 42,410 shares during the quarter. United Services Automobile Association owned approximately 0.41% of Astronics worth $4,157,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Citadel Advisors LLC increased its stake in Astronics by 48.4% in the 2nd quarter. Citadel Advisors LLC now owns 36,396 shares of the aerospace company’s stock worth $1,309,000 after purchasing an additional 11,866 shares in the last quarter. Federated Investors Inc. PA purchased a new position in Astronics in the 2nd quarter worth about $5,172,000. DDD Partners LLC purchased a new position in Astronics in the 2nd quarter worth about $324,000. BlackRock Inc. increased its stake in Astronics by 6.2% in the 2nd quarter. BlackRock Inc. now owns 2,616,726 shares of the aerospace company’s stock worth $94,122,000 after purchasing an additional 153,154 shares in the last quarter. Finally, Carillon Tower Advisers Inc. increased its stake in Astronics by 6.7% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 106,789 shares of the aerospace company’s stock worth $3,841,000 after purchasing an additional 6,664 shares in the last quarter. 71.14% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on ATRO. Zacks Investment Research raised Astronics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. BidaskClub cut Astronics from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Canaccord Genuity cut Astronics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $50.00 to $41.00 in a research note on Thursday, May 10th. Finally, ValuEngine raised Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Astronics has an average rating of “Buy” and an average price target of $42.75.
In related news, CEO Peter J. Gundermann sold 47,322 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $45.00, for a total value of $2,129,490.00. Following the completion of the sale, the chief executive officer now owns 54,743 shares of the company’s stock, valued at approximately $2,463,435. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider James S. Kramer sold 11,800 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $46.02, for a total value of $543,036.00. Following the completion of the sale, the insider now directly owns 42,003 shares of the company’s stock, valued at approximately $1,932,978.06. The disclosure for this sale can be found here. Insiders own 16.57% of the company’s stock.
NASDAQ:ATRO opened at $43.18 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.68 and a current ratio of 3.05. Astronics Co. has a fifty-two week low of $25.99 and a fifty-two week high of $49.45. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 2.73 and a beta of 1.93.
Astronics (NASDAQ:ATRO) last released its earnings results on Friday, August 3rd. The aerospace company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.09. Astronics had a return on equity of 10.28% and a net margin of 2.50%. The company had revenue of $208.60 million for the quarter, compared to analysts’ expectations of $195.91 million. During the same quarter in the previous year, the business posted $0.26 EPS. The business’s revenue for the quarter was up 38.1% on a year-over-year basis. equities analysts forecast that Astronics Co. will post 1.6 earnings per share for the current fiscal year.
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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