SG Capital Management LLC Invests $11.62 Million in Astronics Corporation $ATRO

SG Capital Management LLC purchased a new stake in Astronics Corporation (NASDAQ:ATRO) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 254,707 shares of the aerospace company’s stock, valued at approximately $11,617,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC raised its position in Astronics by 80.1% in the first quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock worth $18,054,000 after acquiring an additional 332,133 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Astronics by 659.8% during the 2nd quarter. American Century Companies Inc. now owns 339,947 shares of the aerospace company’s stock worth $11,381,000 after purchasing an additional 295,208 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Astronics by 186.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 352,075 shares of the aerospace company’s stock valued at $11,787,000 after purchasing an additional 228,958 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Astronics by 579.4% in the first quarter. Jane Street Group LLC now owns 230,492 shares of the aerospace company’s stock valued at $5,571,000 after purchasing an additional 196,568 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Astronics by 57.1% in the second quarter. Marshall Wace LLP now owns 436,051 shares of the aerospace company’s stock valued at $14,599,000 after purchasing an additional 158,544 shares during the period. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Trading Up 1.7%

Shares of ATRO opened at $78.29 on Thursday. The company has a debt-to-equity ratio of 3.07, a current ratio of 2.87 and a quick ratio of 1.56. Astronics Corporation has a 1-year low of $18.54 and a 1-year high of $81.89. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -869.79 and a beta of 1.10. The firm has a 50 day simple moving average of $66.86 and a 200-day simple moving average of $52.11.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ATRO shares. Craig Hallum restated a “buy” rating on shares of Astronics in a research report on Friday, January 9th. Zacks Research upgraded Astronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. CJS Securities raised Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Wall Street Zen cut Astronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Truist Financial set a $75.00 target price on Astronics in a research report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $66.67.

About Astronics

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.