6,784 Shares in Astronics Corporation $ATRO Bought by Corton Capital Inc.

Corton Capital Inc. bought a new position in Astronics Corporation (NASDAQ:ATRO) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 6,784 shares of the aerospace company’s stock, valued at approximately $227,000.

A number of other large investors also recently added to or reduced their stakes in ATRO. Signaturefd LLC raised its position in Astronics by 88.5% in the 1st quarter. Signaturefd LLC now owns 1,446 shares of the aerospace company’s stock worth $35,000 after purchasing an additional 679 shares during the period. CWM LLC raised its position in Astronics by 192.2% in the 1st quarter. CWM LLC now owns 2,592 shares of the aerospace company’s stock worth $63,000 after purchasing an additional 1,705 shares during the period. Verdence Capital Advisors LLC purchased a new position in Astronics in the 2nd quarter worth $219,000. Longboard Asset Management LP purchased a new position in Astronics in the 2nd quarter worth $222,000. Finally, Brighton Jones LLC purchased a new position in Astronics in the 2nd quarter worth $230,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Insider Buying and Selling at Astronics

In other news, insider James Mulato sold 1,129 shares of Astronics stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $38.16, for a total transaction of $43,082.64. Following the sale, the insider owned 1,066 shares of the company’s stock, valued at approximately $40,678.56. The trade was a 51.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.39% of the company’s stock.

Astronics Trading Down 0.9%

Shares of ATRO opened at $48.74 on Tuesday. The firm’s 50-day moving average price is $44.04 and its 200-day moving average price is $35.86. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -406.13 and a beta of 1.68. The company has a current ratio of 3.04, a quick ratio of 1.63 and a debt-to-equity ratio of 0.59. Astronics Corporation has a 1-year low of $14.13 and a 1-year high of $51.88.

Astronics (NASDAQ:ATRO) last announced its earnings results on Wednesday, August 6th. The aerospace company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The firm had revenue of $204.68 million for the quarter, compared to analyst estimates of $208.29 million. Astronics had a negative net margin of 0.45% and a positive return on equity of 22.89%. Sell-side analysts anticipate that Astronics Corporation will post 0.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Craig Hallum assumed coverage on shares of Astronics in a research report on Friday, October 10th. They issued a “buy” rating and a $60.00 target price on the stock. Wall Street Zen upgraded shares of Astronics from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Truist Financial boosted their price objective on shares of Astronics from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research report on Wednesday, October 8th. Finally, Zacks Research cut shares of Astronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $59.00.

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.