JPMorgan Chase & Co. Increases Stake in Astronics Co. (NASDAQ:ATRO)

JPMorgan Chase & Co. raised its holdings in Astronics Co. (NASDAQ:ATRO - Free Report) by 108.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,954 shares of the aerospace company's stock after purchasing an additional 48,328 shares during the quarter. JPMorgan Chase & Co. owned 0.26% of Astronics worth $1,811,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ATRO. State Street Corp boosted its stake in shares of Astronics by 6.7% in the third quarter. State Street Corp now owns 924,070 shares of the aerospace company's stock worth $18,001,000 after buying an additional 58,356 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Astronics by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company's stock worth $17,806,000 after purchasing an additional 40,438 shares in the last quarter. Geode Capital Management LLC boosted its position in Astronics by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company's stock worth $13,474,000 after purchasing an additional 13,469 shares in the last quarter. Needham Investment Management LLC grew its stake in shares of Astronics by 9.2% during the 3rd quarter. Needham Investment Management LLC now owns 267,500 shares of the aerospace company's stock worth $5,211,000 after purchasing an additional 22,500 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in shares of Astronics by 32.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 84,181 shares of the aerospace company's stock valued at $1,640,000 after purchasing an additional 20,514 shares during the period. 56.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ATRO has been the topic of several analyst reports. StockNews.com lowered shares of Astronics from a "buy" rating to a "hold" rating in a research report on Wednesday, January 15th. Truist Financial dropped their target price on Astronics from $20.00 to $17.00 and set a "hold" rating on the stock in a research report on Tuesday, January 14th.

Astronics Price Performance

Shares of NASDAQ:ATRO traded down $0.01 during midday trading on Thursday, reaching $17.16. 163,418 shares of the company's stock traded hands, compared to its average volume of 242,344. The company has a market cap of $605.06 million, a P/E ratio of -90.31 and a beta of 1.79. The company has a fifty day simple moving average of $16.31 and a two-hundred day simple moving average of $18.66. 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 1 year low of $14.13 and a 1 year high of $23.74.

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.