Renaissance Technologies LLC Boosts Holdings in Astronics Co. (NASDAQ:ATRO)

Renaissance Technologies LLC grew its position in Astronics Co. (NASDAQ:ATRO - Free Report) by 139.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 286,700 shares of the aerospace company's stock after purchasing an additional 166,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.81% of Astronics worth $4,576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ATRO. Legal & General Group Plc lifted its position in Astronics by 2.7% in the fourth quarter. Legal & General Group Plc now owns 68,426 shares of the aerospace company's stock valued at $1,092,000 after acquiring an additional 1,770 shares during the last quarter. Polymer Capital Management US LLC purchased a new stake in shares of Astronics in the 4th quarter valued at about $190,000. Federated Hermes Inc. boosted its position in shares of Astronics by 4.7% in the 4th quarter. Federated Hermes Inc. now owns 35,844 shares of the aerospace company's stock valued at $572,000 after purchasing an additional 1,612 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Astronics during the 4th quarter worth approximately $805,000. Finally, Wells Fargo & Company MN increased its position in Astronics by 26.2% during the fourth quarter. Wells Fargo & Company MN now owns 18,209 shares of the aerospace company's stock worth $291,000 after buying an additional 3,775 shares during the period. Institutional investors and hedge funds own 56.68% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ATRO. Truist Financial lowered their price objective on shares of Astronics from $23.00 to $21.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. StockNews.com raised shares of Astronics from a "hold" rating to a "buy" rating in a report on Thursday, March 6th.

Insider Activity

In related news, Director Robert S. Keane sold 77,099 shares of the 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 sale, the director now directly owns 6,346 shares of the company's stock, valued at approximately $155,794.30. This represents a 92.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 10.86% of the company's stock.

Astronics Price Performance

ATRO stock traded up $0.74 on Thursday, reaching $21.20. 265,927 shares of the company's stock were exchanged, compared to its average volume of 288,546. Astronics Co. has a twelve month low of $14.13 and a twelve month high of $26.63. 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 fifty day moving average of $22.71 and a 200-day moving average of $19.20. The firm has a market cap of $747.70 million, a PE ratio of -111.57 and a beta of 1.26.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, beating 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 business had revenue of $208.54 million during the quarter, compared to the consensus estimate of $194.91 million. During the same quarter last year, the firm posted $0.35 EPS. As a group, equities analysts predict that Astronics Co. will post 0.82 EPS for the current fiscal year.

Astronics Company 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.