111,686 Shares in Astronics Co. (NASDAQ:ATRO) Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP acquired a new stake in shares of Astronics Co. (NASDAQ:ATRO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 111,686 shares of the aerospace company's stock, valued at approximately $1,783,000. ExodusPoint Capital Management LP owned 0.32% of Astronics at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. AlphaQuest LLC lifted its position in Astronics by 355.5% in the fourth quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company's stock worth $57,000 after buying an additional 2,791 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Astronics during the 4th quarter worth about $73,000. Point72 Asset Management L.P. grew its holdings in Astronics by 337.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company's stock valued at $104,000 after purchasing an additional 4,133 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Astronics in the 4th quarter worth about $135,000. Finally, Victory Capital Management Inc. bought a new stake in Astronics in the fourth quarter worth about $178,000. 56.68% of the stock is owned by institutional investors.

Insider Activity at Astronics

In other news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $24.55, for a total value of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares of the company's stock, valued at $155,794.30. The trade was a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.86% of the stock is owned by company insiders.

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Astronics Stock Up 2.1 %

Shares of ATRO traded up $0.47 during midday trading on Monday, hitting $22.95. 116,461 shares of the company's stock traded hands, compared to its average volume of 277,797. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $809.42 million, a price-to-earnings ratio of -120.78 and a beta of 1.26. The firm's fifty day moving average is $22.19 and its 200-day moving average is $19.08. Astronics Co. has a 1 year low of $14.13 and a 1 year high of $26.63.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The firm had revenue of $208.54 million for the quarter, compared to analyst estimates of $194.91 million. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com raised Astronics from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Truist Financial lifted their price objective on shares of Astronics from $17.00 to $23.00 and gave the company a "hold" rating in a report on Wednesday, March 5th.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.