Connor Clark & Lunn Investment Management Ltd. Buys New Stake in Astronics Co. (NASDAQ:ATRO)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Astronics Co. (NASDAQ:ATRO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 48,618 shares of the aerospace company's stock, valued at approximately $776,000. Connor Clark & Lunn Investment Management Ltd. owned 0.14% of Astronics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC grew its stake in shares of Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company's stock valued at $57,000 after purchasing an additional 2,791 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Astronics by 337.9% during the third quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company's stock worth $104,000 after purchasing an additional 4,133 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Astronics in the 3rd quarter valued at $106,000. Arcadia Investment Management Corp MI purchased a new position in Astronics during the 4th quarter worth $135,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Astronics in the 4th quarter worth $178,000. Hedge funds and other institutional investors own 56.68% of the company's stock.

Astronics Price Performance

Astronics stock traded up $0.10 during midday trading on Tuesday, reaching $26.50. The company's stock had a trading volume of 726,816 shares, compared to its average volume of 253,705. 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 Co. has a fifty-two week low of $14.13 and a fifty-two week high of $26.54. The firm has a market capitalization of $934.63 million, a PE ratio of -139.47 and a beta of 1.74. The stock's 50 day simple moving average is $20.16 and its 200 day simple moving average is $18.62.

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Astronics (NASDAQ:ATRO - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, topping 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 the consensus estimate of $194.91 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, equities research analysts forecast that Astronics Co. will post 0.82 earnings per share for the current year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ATRO. StockNews.com upgraded shares of Astronics from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Truist Financial increased their target price on Astronics from $17.00 to $23.00 and gave the stock a "hold" rating in a research note on Wednesday, March 5th.

About Astronics

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.