Intech Investment Management LLC Buys Shares of 13,411 Astronics Co. (NASDAQ:ATRO)

Intech Investment Management LLC purchased a new stake in shares of Astronics Co. (NASDAQ:ATRO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,411 shares of the aerospace company’s stock, valued at approximately $214,000.

A number of other institutional investors have also modified their holdings of ATRO. Royce & Associates LP lifted its position in Astronics by 18.7% during the fourth quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company’s stock valued at $18,360,000 after acquiring an additional 181,619 shares during the last quarter. Skylands Capital LLC purchased a new stake in shares of Astronics during the 4th quarter valued at $1,622,000. State Street Corp boosted its position in shares of Astronics by 6.7% in the 3rd quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock worth $18,001,000 after purchasing an additional 58,356 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Astronics during the 4th quarter worth $776,000. Finally, JPMorgan Chase & Co. increased its position in Astronics by 108.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company’s stock valued at $1,811,000 after buying an additional 48,328 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the 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 directly owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This trade represents a 92.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.86% of the stock is currently owned by corporate insiders.

Astronics Stock Performance

Shares of ATRO opened at $26.01 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The stock has a 50-day moving average of $20.55 and a two-hundred day moving average of $18.73. The stock has a market cap of $917.35 million, a P/E ratio of -136.89 and a beta of 1.74. Astronics Co. has a one year low of $14.13 and a one year high of $26.63.

Astronics (NASDAQ:ATRO) last issued its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $194.91 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. As a group, research analysts predict that Astronics Co. will post 0.82 EPS for the current year.

Wall Street Analysts Forecast Growth

ATRO has been the subject of several recent analyst reports. StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Truist Financial boosted their target price on shares of Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, March 5th.

Astronics 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.