Teton Advisors LLC Has $3.80 Million Holdings in Astronics Corporation $ATRO

Teton Advisors LLC lessened its holdings in shares of Astronics Corporation (NASDAQ:ATRO) by 26.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,000 shares of the aerospace company’s stock after selling 20,000 shares during the period. Astronics comprises approximately 2.7% of Teton Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. Teton Advisors LLC owned 0.16% of Astronics worth $3,804,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Capital International Investors raised its holdings in shares of Astronics by 31.5% in the fourth quarter. Capital International Investors now owns 1,849,886 shares of the aerospace company’s stock worth $100,338,000 after buying an additional 442,886 shares during the period. State Street Corp lifted its stake in shares of Astronics by 26.2% during the 4th quarter. State Street Corp now owns 1,832,179 shares of the aerospace company’s stock worth $99,377,000 after acquiring an additional 379,811 shares during the last quarter. Congruence Capital LLC purchased a new position in Astronics during the 4th quarter valued at $19,658,000. Millennium Management LLC boosted its holdings in Astronics by 80.1% during the 1st quarter. Millennium Management LLC now owns 746,956 shares of the aerospace company’s stock valued at $18,054,000 after acquiring an additional 332,133 shares during the period. Finally, Lazard Asset Management LLC grew its position in Astronics by 4,791.1% in the 3rd quarter. Lazard Asset Management LLC now owns 236,140 shares of the aerospace company’s stock valued at $10,770,000 after acquiring an additional 231,312 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial upgraded Astronics to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Astronics in a research note on Friday, July 17th. TD Cowen upped their price target on shares of Astronics from $70.83 to $83.33 and gave the stock a “buy” rating in a report on Thursday, May 28th. Zacks Research upgraded shares of Astronics from a “hold” rating to a “strong-buy” rating in a report on Monday, July 20th. Finally, Wall Street Zen raised shares of Astronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 21st. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Astronics currently has an average rating of “Buy” and an average price target of $74.17.

Astronics Stock Down 1.6%

Shares of NASDAQ ATRO opened at $69.85 on Friday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.63 and a current ratio of 2.97. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 71.03 and a beta of 1.13. The stock has a 50 day moving average price of $73.37 and a 200 day moving average price of $65.41. Astronics Corporation has a 52-week low of $22.73 and a 52-week high of $88.72.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings data on Tuesday, May 12th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $230.62 million for the quarter, compared to analysts’ expectations of $225.52 million. Astronics had a return on equity of 49.34% and a net margin of 5.12%.Astronics’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Sell-side analysts expect that Astronics Corporation will post 2.62 earnings per share for the current year.

About Astronics

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.