Victory Capital Management Inc. Makes New $178,000 Investment in Astronics Co. (NASDAQ:ATRO)

Victory Capital Management Inc. bought a new stake in Astronics Co. (NASDAQ:ATRO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,149 shares of the aerospace company's stock, valued at approximately $178,000.

Other large investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its stake 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 valued at $104,000 after acquiring an additional 4,133 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Astronics in the third quarter valued at about $106,000. Arcadia Investment Management Corp MI purchased a new position in Astronics in the fourth quarter valued at about $135,000. EP Wealth Advisors LLC acquired a new stake in Astronics during the 3rd quarter valued at approximately $202,000. Finally, Stifel Financial Corp purchased a new stake in Astronics during the 3rd quarter worth approximately $212,000. 56.68% of the stock is owned by institutional investors and hedge funds.

Astronics Stock Performance

ATRO traded down $0.66 on Thursday, hitting $25.35. 383,440 shares of the company's stock were exchanged, compared to its average volume of 258,635. 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 stock has a fifty day moving average of $20.55 and a two-hundred day moving average of $18.73. Astronics Co. has a twelve month low of $14.13 and a twelve month high of $26.63. The firm has a market cap of $894.07 million, a PE ratio of -133.41 and a beta of 1.74.

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Astronics (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.27. The business had revenue of $208.54 million during the quarter, compared to the consensus estimate 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 prior year, the company posted $0.35 earnings per share. On average, research analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Insider Activity at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the director now owns 6,346 shares of the company's stock, valued at approximately $155,794.30. This trade represents a 92.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.86% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on ATRO shares. Truist Financial increased their price target on shares of Astronics from $17.00 to $23.00 and gave the stock a "hold" rating in a research report on Wednesday, March 5th. StockNews.com raised Astronics from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th.

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.