27,478 Shares in Astronics Co. (NASDAQ:ATRO) Acquired by Ironwood Investment Management LLC

Ironwood Investment Management LLC bought a new position in shares of Astronics Co. (NASDAQ:ATRO) in the 4th quarter, Holdings Channel reports. The fund bought 27,478 shares of the aerospace company’s stock, valued at approximately $439,000.

Several other large investors have also added to or reduced their stakes in the business. RiverPark Advisors LLC grew its stake in Astronics by 3.5% during the third quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company’s stock worth $592,000 after purchasing an additional 1,015 shares during the period. Swiss National Bank grew its stake in Astronics by 2.2% during the fourth quarter. Swiss National Bank now owns 54,800 shares of the aerospace company’s stock worth $875,000 after purchasing an additional 1,200 shares during the period. Franklin Resources Inc. boosted its holdings in Astronics by 6.7% in the third quarter. Franklin Resources Inc. now owns 20,189 shares of the aerospace company’s stock worth $411,000 after acquiring an additional 1,274 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Astronics by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 81,169 shares of the aerospace company’s stock worth $1,581,000 after acquiring an additional 1,432 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in Astronics by 355.5% in the fourth quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after acquiring an additional 2,791 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Stock Up 2.2 %

Shares of NASDAQ:ATRO opened at $24.77 on Friday. Astronics Co. has a 52-week low of $14.13 and a 52-week high of $25.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The business’s 50 day simple moving average is $18.85 and its two-hundred day simple moving average is $18.48. The firm has a market cap of $873.44 million, a P/E ratio of -130.36 and a beta of 1.74.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.27. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The company had revenue of $208.54 million for the quarter, compared to analyst estimates of $194.91 million. During the same quarter last year, the company earned $0.35 earnings per share. As a group, research analysts forecast that Astronics Co. will post 0.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ATRO. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Truist Financial increased their price target on Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, March 5th.

Insider Activity

In related news, Director Robert S. Keane sold 77,099 shares of the 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 completion of the sale, the director now directly owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This trade represents a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.83% of the company’s stock.

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.