JPMorgan Chase & Co. Purchases 143,452 Shares of Astronics Co. (NASDAQ:ATRO)

JPMorgan Chase & Co. lifted its holdings in Astronics Co. (NASDAQ:ATRO) by 154.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 236,406 shares of the aerospace company’s stock after buying an additional 143,452 shares during the period. JPMorgan Chase & Co.’s holdings in Astronics were worth $3,773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Royce & Associates LP increased its stake in shares of Astronics by 18.7% in the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company’s stock valued at $18,360,000 after acquiring an additional 181,619 shares in the last quarter. Skylands Capital LLC acquired a new stake in Astronics in the fourth quarter worth $1,622,000. State Street Corp increased its stake in Astronics by 6.7% in the third quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock valued at $18,001,000 after purchasing an additional 58,356 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Astronics during the fourth quarter valued at about $776,000. Finally, Barclays PLC boosted its position in shares of Astronics by 328.2% during the 3rd quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock worth $883,000 after purchasing an additional 34,730 shares in the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

Astronics Stock Performance

ATRO opened at $21.76 on Monday. The company has a market cap of $767.45 million, a price-to-earnings ratio of -114.52 and a beta of 1.26. The company’s fifty day moving average price is $22.56 and its two-hundred day moving average price is $19.18. Astronics Co. has a 1-year low of $14.13 and a 1-year high of $26.63. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.27. The company had revenue of $208.54 million for the quarter, compared to analyst estimates 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 business posted $0.35 EPS. On average, analysts expect that Astronics Co. will post 0.82 EPS for the current fiscal year.

Insider Activity

In other Astronics news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the transaction, the director now directly owns 6,346 shares of the company’s stock, valued at $155,794.30. The trade was a 92.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.83% of the company’s stock.

Wall Street Analysts Forecast Growth

ATRO has been the subject of a number of research analyst reports. Truist Financial decreased their target price on Astronics from $23.00 to $21.00 and set a “hold” rating for the company in a research report on Thursday. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a report 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.