Prudential Financial Inc. Purchases 8,630 Shares of Astronics Corporation (ATRO)
Prudential Financial Inc. lifted its position in shares of Astronics Corporation (NASDAQ:ATRO) by 38.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,270 shares of the aerospace company’s stock after buying an additional 8,630 shares during the period. Prudential Financial Inc. owned about 0.11% of Astronics Corporation worth $953,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of ATRO. BNP Paribas Arbitrage SA boosted its position in shares of Astronics Corporation by 11.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,745 shares of the aerospace company’s stock worth $151,000 after buying an additional 472 shares during the period. Legal & General Group Plc boosted its position in shares of Astronics Corporation by 12.0% during the first quarter. Legal & General Group Plc now owns 5,084 shares of the aerospace company’s stock worth $161,000 after buying an additional 543 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Astronics Corporation by 37.9% during the first quarter. JPMorgan Chase & Co. now owns 7,534 shares of the aerospace company’s stock worth $239,000 after buying an additional 2,069 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Astronics Corporation during the first quarter worth about $240,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Astronics Corporation during the second quarter worth about $294,000. 65.59% of the stock is owned by institutional investors.
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Several research firms have recently weighed in on ATRO. Zacks Investment Research cut Astronics Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub cut Astronics Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Canaccord Genuity reduced their price target on Astronics Corporation from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. Astronics Corporation presently has an average rating of “Hold” and a consensus price target of $35.00.
Astronics Corporation (NASDAQ:ATRO) opened at 31.72 on Friday. Astronics Corporation has a 12 month low of $23.95 and a 12 month high of $41.03. The firm has a market capitalization of $910.40 million, a PE ratio of 23.02 and a beta of 1.17. The company’s 50-day moving average price is $27.90 and its 200 day moving average price is $29.62.
Astronics Corporation (NASDAQ:ATRO) last released its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.14). The company had revenue of $151.11 million for the quarter, compared to analyst estimates of $162.33 million. Astronics Corporation had a net margin of 6.73% and a return on equity of 12.12%. Astronics Corporation’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS. On average, equities research analysts predict that Astronics Corporation will post $1.42 earnings per share for the current year.
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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