Squarepoint Ops LLC Takes Position in Astronics Co. (NASDAQ:ATRO)

Squarepoint Ops LLC bought a new stake in Astronics Co. (NASDAQ:ATRO) in the fourth quarter, Holdings Channel reports. The institutional investor bought 64,019 shares of the aerospace company’s stock, valued at approximately $1,022,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ATRO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Astronics by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,422 shares of the aerospace company’s stock worth $262,000 after purchasing an additional 684 shares in the last quarter. Franklin Resources Inc. raised its holdings in Astronics by 3.4% during the fourth quarter. Franklin Resources Inc. now owns 20,882 shares of the aerospace company’s stock worth $333,000 after purchasing an additional 693 shares in the last quarter. Swiss National Bank raised its holdings 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 in the last quarter. Federated Hermes Inc. raised its holdings in Astronics by 4.7% during the fourth quarter. Federated Hermes Inc. now owns 35,844 shares of the aerospace company’s stock worth $572,000 after purchasing an additional 1,612 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Astronics by 2.7% during the fourth quarter. Legal & General Group Plc now owns 68,426 shares of the aerospace company’s stock worth $1,092,000 after purchasing an additional 1,770 shares in the last quarter. 56.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ATRO shares. Truist Financial cut their price target on shares of Astronics from $23.00 to $21.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 21st.

Insider Buying and Selling at Astronics

In other Astronics 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 completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. 9.39% of the stock is currently owned by corporate insiders.

Astronics Trading Down 0.1%

Shares of Astronics stock opened at $31.27 on Friday. Astronics Co. has a 12-month low of $14.13 and a 12-month high of $31.90. 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 market cap of $1.11 billion, a PE ratio of -164.57 and a beta of 1.44. The company has a 50-day moving average of $25.35 and a two-hundred day moving average of $20.83.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, May 6th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.19. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The company had revenue of $205.94 million during the quarter, compared to analysts’ expectations of $192.53 million. On average, research analysts anticipate 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.