Astronics Co. (NASDAQ:ATRO) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Astronics Co. (NASDAQ:ATRO - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 108,231 shares of the aerospace company's stock after purchasing an additional 15,242 shares during the quarter. Bank of New York Mellon Corp owned about 0.31% of Astronics worth $1,727,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Skylands Capital LLC purchased a new position in Astronics in the fourth quarter valued at about $1,622,000. State Street Corp increased its stake in Astronics by 6.7% in the 3rd quarter. State Street Corp now owns 924,070 shares of the aerospace company's stock valued at $18,001,000 after purchasing an additional 58,356 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Astronics by 108.3% during the third quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company's stock worth $1,811,000 after purchasing an additional 48,328 shares during the last quarter. Algert Global LLC grew its holdings in Astronics by 367.2% in the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company's stock valued at $1,092,000 after purchasing an additional 44,070 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Astronics by 328.2% in the third quarter. Barclays PLC now owns 45,313 shares of the aerospace company's stock valued at $883,000 after buying an additional 34,730 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company's stock.

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Astronics Price Performance

Astronics stock traded down $0.49 during midday trading on Wednesday, reaching $26.01. 543,346 shares of the company were exchanged, compared to its average volume of 257,445. The firm's 50-day simple moving average is $20.37 and its 200-day simple moving average is $18.68. Astronics Co. has a 1 year low of $14.13 and a 1 year high of $26.59. The company has a market capitalization of $917.35 million, a price-to-earnings ratio of -136.89 and a beta of 1.74. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83.

Astronics (NASDAQ:ATRO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.27. The business had revenue of $208.54 million during the quarter, compared to the consensus estimate of $194.91 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, analysts anticipate that Astronics Co. will post 0.82 EPS for the current year.

Insider Transactions at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction 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 transaction, the director now directly owns 6,346 shares of the company's stock, valued at approximately $155,794.30. This trade represents a 92.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 10.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Astronics from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Truist Financial upped their price target 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 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.