Astronics Co. (NASDAQ:ATRO) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in Astronics Co. (NASDAQ:ATRO) by 139.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 286,700 shares of the aerospace company’s stock after buying an additional 166,900 shares during the period. Renaissance Technologies LLC’s holdings in Astronics were worth $4,576,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ATRO. Legal & General Group Plc lifted its stake in shares of Astronics by 2.7% during the fourth quarter. Legal & General Group Plc now owns 68,426 shares of the aerospace company’s stock valued at $1,092,000 after buying an additional 1,770 shares during the period. Polymer Capital Management US LLC acquired a new stake in shares of Astronics during the fourth quarter worth $190,000. Federated Hermes Inc. grew its position in shares of Astronics by 4.7% in the fourth 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 acquired a new position in Astronics in the fourth quarter valued at $805,000. Finally, Wells Fargo & Company MN lifted 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. 56.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Astronics

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the 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 sale, the director now owns 6,346 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 10.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ATRO has been the subject of a number of research analyst reports. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Truist Financial cut their price target on shares of Astronics from $23.00 to $21.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th.

Astronics Stock Performance

Astronics stock opened at $20.27 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. Astronics Co. has a 12 month low of $14.13 and a 12 month high of $26.63. The company has a market cap of $714.90 million, a price-to-earnings ratio of -106.68 and a beta of 1.26. The stock’s 50-day moving average is $22.59 and its 200-day moving average is $19.18.

Astronics (NASDAQ:ATRO) last announced its quarterly 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 negative net margin of 0.82% and a positive return on equity of 6.94%. The firm had revenue of $208.54 million for the quarter, compared to analysts’ expectations of $194.91 million. During the same period in the previous year, the company posted $0.35 earnings per share. Equities analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current year.

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.