Gabelli Funds LLC Increases Stock Holdings in Astronics Co. (NASDAQ:ATRO)

Gabelli Funds LLC increased its holdings in Astronics Co. (NASDAQ:ATRO - Free Report) by 28.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,326 shares of the aerospace company's stock after buying an additional 15,000 shares during the quarter. Gabelli Funds LLC owned about 0.19% of Astronics worth $1,075,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Royce & Associates LP lifted its position in Astronics by 18.7% during the fourth quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company's stock valued at $18,360,000 after purchasing an additional 181,619 shares during the period. Renaissance Technologies LLC grew its holdings in Astronics by 139.3% in the fourth quarter. Renaissance Technologies LLC now owns 286,700 shares of the aerospace company's stock valued at $4,576,000 after purchasing an additional 166,900 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Astronics by 154.3% during the 4th quarter. JPMorgan Chase & Co. now owns 236,406 shares of the aerospace company's stock worth $3,773,000 after buying an additional 143,452 shares during the period. ExodusPoint Capital Management LP purchased a new stake in Astronics in the 4th quarter worth $1,783,000. Finally, Skylands Capital LLC acquired a new position in Astronics during the fourth quarter worth $1,622,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on ATRO shares. Truist Financial cut their target price on shares of Astronics from $23.00 to $21.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. StockNews.com raised Astronics from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th.

Astronics Trading Up 3.6 %

Shares of ATRO traded up $0.74 during midday trading on Thursday, reaching $21.20. The company had a trading volume of 194,939 shares, compared to its average volume of 288,546. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The stock has a market cap of $747.84 million, a PE ratio of -111.59 and a beta of 1.26. The firm has a 50 day simple moving average of $22.66 and a 200-day simple moving average of $19.19. 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 released its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.21 by $0.27. The firm had revenue of $208.54 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $0.35 EPS. Research analysts forecast that Astronics Co. will post 0.82 EPS for the current fiscal year.

Insider Transactions at Astronics

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

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.