11,894 Shares in Astronics Co. (NASDAQ:ATRO) Purchased by Polymer Capital Management US LLC

Polymer Capital Management US LLC acquired a new position in shares of Astronics Co. (NASDAQ:ATRO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,894 shares of the aerospace company's stock, valued at approximately $190,000.

Other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. boosted its position in shares of Astronics by 4.7% during the fourth quarter. Federated Hermes Inc. now owns 35,844 shares of the aerospace company's stock worth $572,000 after purchasing an additional 1,612 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Astronics during the fourth quarter worth about $805,000. Wells Fargo & Company MN grew its stake in Astronics by 26.2% in the fourth quarter. Wells Fargo & Company MN now owns 18,209 shares of the aerospace company's stock valued at $291,000 after acquiring an additional 3,775 shares during the period. Integrated Quantitative Investments LLC bought a new stake in shares of Astronics in the fourth quarter worth about $338,000. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Astronics during the fourth quarter worth about $1,783,000. 56.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ATRO shares. 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. StockNews.com raised shares of Astronics from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th.

Remove Ads

Insider Activity

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the business's stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is available through this link. 10.86% of the stock is owned by corporate insiders.

Astronics Stock Up 1.3 %

Shares of ATRO stock traded up $0.30 on Monday, hitting $22.78. 139,484 shares of the stock were exchanged, compared to its average volume of 277,883. 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 firm has a market capitalization of $803.43 million, a P/E ratio of -119.89 and a beta of 1.26. Astronics Co. has a fifty-two week low of $14.13 and a fifty-two week high of $26.63. The business has a 50-day moving average of $22.19 and a 200 day moving average of $19.08.

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

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.