Teton Advisors LLC Takes Position in Astronics Corporation $ATRO

Teton Advisors LLC acquired a new position in shares of Astronics Corporation (NASDAQ:ATRO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,000 shares of the aerospace company’s stock, valued at approximately $5,017,000. Astronics accounts for about 3.1% of Teton Advisors LLC’s holdings, making the stock its 3rd largest holding. Teton Advisors LLC owned about 0.31% of Astronics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. First Eagle Investment Management LLC lifted its stake in Astronics by 6.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 236,326 shares of the aerospace company’s stock valued at $10,779,000 after acquiring an additional 14,000 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Astronics during the 3rd quarter worth approximately $3,352,000. American Century Companies Inc. grew its stake in shares of Astronics by 58.6% during the 3rd quarter. American Century Companies Inc. now owns 539,006 shares of the aerospace company’s stock worth $24,584,000 after acquiring an additional 199,059 shares in the last quarter. US Bancorp DE raised its holdings in shares of Astronics by 41.0% in the third quarter. US Bancorp DE now owns 966 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 281 shares during the last quarter. Finally, Empirical Asset Management LLC acquired a new stake in shares of Astronics in the third quarter valued at approximately $667,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ATRO shares. Wall Street Zen upgraded shares of Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Craig Hallum reiterated a “buy” rating on shares of Astronics in a research note on Friday, January 9th. TD Cowen began coverage on shares of Astronics in a research report on Wednesday, November 26th. They set a “buy” rating on the stock. CJS Securities upgraded shares of Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a report on Wednesday, January 21st. Two 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $77.33.

Astronics Trading Up 0.6%

Shares of Astronics stock opened at $75.99 on Friday. The stock has a market cap of $2.71 billion, a P/E ratio of 98.69 and a beta of 1.06. The company has a quick ratio of 1.71, a current ratio of 3.10 and a debt-to-equity ratio of 2.39. Astronics Corporation has a 12-month low of $19.89 and a 12-month high of $83.96. The business’s 50 day moving average is $72.70 and its 200-day moving average is $55.72.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.12. The business had revenue of $240.07 million during the quarter, compared to analysts’ expectations of $237.11 million. Astronics had a net margin of 3.41% and a return on equity of 39.95%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $0.46 earnings per share. Equities research analysts predict that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

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.