Astronics Corporation (NASDAQ:ATRO) Position Increased by Legal & General Group Plc
Legal & General Group Plc increased its position in shares of Astronics Corporation (NASDAQ:ATRO) by 12.0% during the first quarter, Holdings Channel reports. The fund owned 5,084 shares of the aerospace company’s stock after buying an additional 543 shares during the period. Legal & General Group Plc’s holdings in Astronics Corporation were worth $161,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Stoneridge Investment Partners LLC bought a new position in Astronics Corporation during the first quarter worth $726,000. Bank of New York Mellon Corp raised its position in Astronics Corporation by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 98,920 shares of the aerospace company’s stock worth $3,139,000 after buying an additional 1,915 shares during the last quarter. Mesirow Financial Investment Management Equity Management raised its position in Astronics Corporation by 44.2% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 12,698 shares of the aerospace company’s stock worth $402,000 after buying an additional 3,890 shares during the last quarter. Alambic Investment Management L.P. bought a new position in Astronics Corporation during the first quarter worth $569,000. Finally, Bronfman E.L. Rothschild L.P. raised its position in Astronics Corporation by 1.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 20,467 shares of the aerospace company’s stock worth $649,000 after buying an additional 257 shares during the last quarter. 63.76% of the stock is owned by institutional investors and hedge funds.
Astronics Corporation (NASDAQ ATRO) traded up 0.54% on Monday, reaching $26.30. The company’s stock had a trading volume of 11,516 shares. The stock has a 50-day moving average of $29.24 and a 200-day moving average of $31.00. Astronics Corporation has a one year low of $23.95 and a one year high of $41.03. The stock has a market cap of $748.55 million, a P/E ratio of 19.09 and a beta of 1.13.
Astronics Corporation (NASDAQ:ATRO) last issued its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by $0.14. The company had revenue of $151.11 million during the quarter, compared to analysts’ expectations of $162.33 million. Astronics Corporation had a return on equity of 12.21% and a net margin of 6.73%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. On average, analysts predict that Astronics Corporation will post $1.42 EPS for the current fiscal year.
ATRO has been the subject of a number of recent analyst reports. BidaskClub lowered Astronics Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Zacks Investment Research lowered Astronics Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. TheStreet raised Astronics Corporation from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. Finally, Canaccord Genuity reduced their target price on Astronics Corporation from $40.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.33.
About Astronics Corporation
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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