Victory Capital Management Inc. Takes $178,000 Position in Astronics Co. (NASDAQ:ATRO)

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

A number of other hedge funds also recently bought and sold shares of ATRO. Point72 Asset Management L.P. increased its position in Astronics by 337.9% during the third quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company's stock worth $104,000 after acquiring an additional 4,133 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Astronics in the 3rd quarter worth $106,000. Arcadia Investment Management Corp MI bought a new position in shares of Astronics during the 4th quarter worth about $135,000. EP Wealth Advisors LLC acquired a new position in shares of Astronics during the third quarter valued at about $202,000. Finally, Stifel Financial Corp bought a new stake in shares of Astronics in the third quarter valued at about $212,000. 56.68% of the stock is currently owned by institutional investors.

Astronics Price Performance

ATRO stock traded down $0.49 during trading on Wednesday, hitting $26.01. The company had a trading volume of 543,346 shares, compared to its average volume of 258,069. 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 company has a fifty day moving average price of $20.55 and a two-hundred day moving average price of $18.73. Astronics Co. has a fifty-two week low of $14.13 and a fifty-two week high of $26.59. The company has a market cap of $917.35 million, a P/E ratio of -136.89 and a beta of 1.74.

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Astronics (NASDAQ:ATRO - Get Free Report) last announced its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.27. The business had revenue of $208.54 million during the quarter, compared to analysts' expectations 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 last year, the company posted $0.35 EPS. Equities research analysts expect that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Insider Activity at Astronics

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the business'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 completion of the transaction, the director now directly owns 6,346 shares of the company's stock, valued at approximately $155,794.30. The trade was a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.86% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ATRO has been the topic of several analyst reports. Truist Financial boosted their price target on shares of Astronics from $17.00 to $23.00 and gave the company a "hold" rating in a report on Wednesday, March 5th. StockNews.com raised shares of Astronics from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th.

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.