AlphaQuest LLC Acquires 2,791 Shares of Astronics Co. (NASDAQ:ATRO)

AlphaQuest LLC grew its holdings in Astronics Co. (NASDAQ:ATRO) by 355.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,576 shares of the aerospace company’s stock after purchasing an additional 2,791 shares during the quarter. AlphaQuest LLC’s holdings in Astronics were worth $57,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its stake 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 worth $104,000 after buying an additional 4,133 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Astronics in the third quarter worth $106,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Astronics in the fourth quarter worth $135,000. Victory Capital Management Inc. acquired a new stake in shares of Astronics in the fourth quarter worth $178,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Astronics in the third quarter worth $202,000. 56.68% of the stock is owned by institutional investors.

Insider Buying and Selling at Astronics

In other news, Director Robert S. Keane sold 77,099 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the sale, the director now owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This represents a 92.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.86% of the company’s stock.

Astronics Price Performance

NASDAQ:ATRO opened at $25.00 on Friday. The stock has a market cap of $881.73 million, a P/E ratio of -131.57 and a beta of 1.74. Astronics Co. has a one year low of $14.13 and a one year high of $25.54. The company has a fifty day moving average price of $19.77 and a 200 day moving average price of $18.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results 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. The firm had revenue of $208.54 million for the quarter, compared to analyst estimates of $194.91 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. During the same quarter in the previous year, the firm posted $0.35 EPS. Analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ATRO shares. Truist Financial boosted their price objective on shares of Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, March 5th. StockNews.com upgraded shares of Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

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.