Astronics Corporation $ATRO Position Decreased by Gabelli Funds LLC

Gabelli Funds LLC lowered its holdings in Astronics Corporation (NASDAQ:ATRO) by 21.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 41,326 shares of the aerospace company’s stock after selling 11,000 shares during the quarter. Gabelli Funds LLC’s holdings in Astronics were worth $1,885,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in Astronics by 166.7% during the third quarter. Jones Financial Companies Lllp now owns 752 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 470 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Astronics by 147.6% in the second quarter. EverSource Wealth Advisors LLC now owns 894 shares of the aerospace company’s stock worth $30,000 after buying an additional 533 shares during the last quarter. US Bancorp DE increased 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 buying an additional 281 shares in the last quarter. Covestor Ltd lifted its position in shares of Astronics by 25.4% during the 3rd quarter. Covestor Ltd now owns 1,068 shares of the aerospace company’s stock valued at $49,000 after acquiring an additional 216 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Astronics by 250.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,225 shares of the aerospace company’s stock valued at $56,000 after acquiring an additional 875 shares during the last quarter. 56.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ATRO shares. Craig Hallum restated a “buy” rating on shares of Astronics in a report on Friday, January 9th. TD Cowen initiated coverage on Astronics in a report on Wednesday, November 26th. They set a “buy” rating for the company. CJS Securities raised Astronics to a “strong-buy” rating in a research note on Thursday, December 11th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astronics in a research note 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. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $77.33.

Astronics Price Performance

Shares of NASDAQ:ATRO opened at $73.15 on Wednesday. The company’s fifty day moving average is $73.46 and its two-hundred day moving average is $56.56. The company has a market cap of $2.61 billion, a P/E ratio of 95.00 and a beta of 1.06. Astronics Corporation has a 12-month low of $19.89 and a 12-month high of $83.96. 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 (NASDAQ:ATRO) last issued its earnings results on Tuesday, February 24th. The aerospace company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.63 by $0.12. Astronics had a return on equity of 39.95% and a net margin of 3.41%.The business had revenue of $240.07 million during the quarter, compared to analysts’ expectations of $237.11 million. During the same quarter last year, the firm posted $0.46 earnings per share. Astronics’s revenue was up 15.1% compared to the same quarter last year. Equities analysts expect that Astronics Corporation will post 0.82 earnings per share for the current fiscal year.

Astronics Company 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.