Deutsche Bank AG Acquires New Stake in Astronics Corporation $ATRO

Deutsche Bank AG acquired a new stake in Astronics Corporation (NASDAQ:ATRO) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 59,923 shares of the aerospace company’s stock, valued at approximately $4,869,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allworth Financial LP boosted its stake in shares of Astronics by 57.1% during the fourth quarter. Allworth Financial LP now owns 528 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 192 shares during the period. Fifth Third Bancorp increased its stake in Astronics by 877.2% in the 1st quarter. Fifth Third Bancorp now owns 557 shares of the aerospace company’s stock worth $37,000 after buying an additional 500 shares during the period. IFP Advisors Inc increased its stake in Astronics by 389.6% in the 3rd quarter. IFP Advisors Inc now owns 563 shares of the aerospace company’s stock worth $26,000 after buying an additional 448 shares during the period. Optiver Holding B.V. lifted its holdings in Astronics by 3,921.4% during the 1st quarter. Optiver Holding B.V. now owns 563 shares of the aerospace company’s stock valued at $38,000 after buying an additional 549 shares in the last quarter. Finally, Quarry LP lifted its holdings in Astronics by 33.6% during the 4th quarter. Quarry LP now owns 568 shares of the aerospace company’s stock valued at $31,000 after buying an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Trading Down 0.3%

Shares of NASDAQ ATRO opened at $74.50 on Wednesday. Astronics Corporation has a 1-year low of $29.65 and a 1-year high of $94.46. The business has a fifty day moving average price of $76.18 and a 200 day moving average price of $68.17. The stock has a market capitalization of $3.20 billion, a P/E ratio of 43.82 and a beta of 1.15. The company has a debt-to-equity ratio of 1.57, a current ratio of 2.97 and a quick ratio of 1.63.

Astronics (NASDAQ:ATRO) last posted its earnings results on Tuesday, August 11th. The aerospace company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.11. The company had revenue of $259.96 million for the quarter, compared to analyst estimates of $245.30 million. Astronics had a return on equity of 67.69% and a net margin of 8.40%.The company’s revenue for the quarter was up 46.9% compared to the same quarter last year. Equities research analysts expect that Astronics Corporation will post 2.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ATRO has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. Wall Street Zen upgraded Astronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Zacks Research raised Astronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. TD Cowen lifted their target price on Astronics from $70.83 to $83.33 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Truist Financial upgraded Astronics to a “strong-buy” rating in a report on Monday, May 4th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $74.17.

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.