Skylands Capital LLC Cuts Position in Astronics Corporation $ATRO

Skylands Capital LLC lowered its position in shares of Astronics Corporation (NASDAQ:ATRO) by 21.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 39,400 shares of the aerospace company’s stock after selling 11,000 shares during the quarter. Skylands Capital LLC’s holdings in Astronics were worth $1,797,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB purchased a new stake in Astronics in the third quarter worth approximately $4,137,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Astronics by 74.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 33,061 shares of the aerospace company’s stock valued at $1,508,000 after purchasing an additional 14,160 shares in the last quarter. Ellsworth Advisors LLC bought a new position in shares of Astronics during the 3rd quarter valued at $918,000. Hennion & Walsh Asset Management Inc. raised its position in Astronics by 75.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 44,166 shares of the aerospace company’s stock worth $2,014,000 after purchasing an additional 19,029 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Astronics by 112.1% during the third quarter. Assenagon Asset Management S.A. now owns 84,656 shares of the aerospace company’s stock valued at $3,861,000 after buying an additional 44,747 shares during the period. Institutional investors own 56.68% of the company’s stock.

Astronics Stock Performance

Shares of ATRO stock opened at $74.62 on Wednesday. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -829.02 and a beta of 1.09. The stock has a fifty day moving average of $63.88 and a 200 day moving average of $50.47. Astronics Corporation has a 52 week low of $18.28 and a 52 week high of $81.89. The company has a quick ratio of 1.56, a current ratio of 2.87 and a debt-to-equity ratio of 3.07.

Wall Street Analyst Weigh In

ATRO has been the topic of several analyst reports. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. CJS Securities upgraded Astronics to a “strong-buy” rating in a research report on Thursday, December 11th. Wall Street Zen cut shares of Astronics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Truist Financial set a $75.00 price target on shares of Astronics in a research report on Friday, January 9th. Finally, Craig Hallum restated a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $66.67.

Astronics Profile

Astronics Corporation (NASDAQ: ATRO) is a global leader in the design and manufacture of advanced technologies primarily for the aerospace, defense and semiconductor industries. Headquartered in East Aurora, New York, the company was founded in 1968 and has grown through a combination of internal development and strategic acquisitions. Astronics operates multiple business units focused on power conversion, distribution and control; cabin electronics and connectivity; aircraft lighting and safety solutions; and automated test systems.

The company’s aerospace products include onboard power generation and management systems, in-flight entertainment and connectivity hardware, LED and fluorescent lighting for aircraft cabins and cockpits, and safety equipment such as escape slide power units.