Astronics Co. (NASDAQ:ATRO) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Astronics Co. (NASDAQ:ATRO) by 16.4% during the fourth quarter, Holdings Channel reports. The firm owned 108,231 shares of the aerospace company’s stock after purchasing an additional 15,242 shares during the quarter. Bank of New York Mellon Corp’s holdings in Astronics were worth $1,727,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its holdings in shares of Astronics by 337.9% in the third quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company’s stock valued at $104,000 after acquiring an additional 4,133 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Astronics in the 3rd quarter worth about $106,000. Arcadia Investment Management Corp MI acquired a new position in shares of Astronics in the 4th quarter valued at about $135,000. EP Wealth Advisors LLC purchased a new stake in shares of Astronics during the 3rd quarter valued at about $202,000. Finally, Stifel Financial Corp purchased a new stake in shares of Astronics during the 3rd quarter valued at about $212,000. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robert S. Keane sold 77,099 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the sale, the director now owns 6,346 shares in the company, valued at approximately $155,794.30. This represents a 92.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.86% of the company’s stock.

Astronics Price Performance

Shares of ATRO stock opened at $25.35 on Friday. The stock has a 50 day moving average of $19.96 and a two-hundred day moving average of $18.60. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. Astronics Co. has a 12 month low of $14.13 and a 12 month high of $25.54. The company has a market capitalization of $894.07 million, a P/E ratio of -133.41 and a beta of 1.74.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.27. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The firm had revenue of $208.54 million during the quarter, compared to the consensus estimate of $194.91 million. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, equities analysts expect that Astronics Co. will post 0.82 EPS for the current year.

Analyst Ratings Changes

ATRO has been the subject of a number of research analyst reports. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Truist Financial increased their price objective on Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, March 5th.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.