Victory Capital Management Inc. Invests $178,000 in Astronics Co. (NASDAQ:ATRO)

Victory Capital Management Inc. bought a new position in Astronics Co. (NASDAQ:ATRO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,149 shares of the aerospace company’s stock, valued at approximately $178,000.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its stake in shares of Astronics by 328.2% in the third quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock worth $883,000 after buying an additional 34,730 shares during the last quarter. Algert Global LLC boosted its stake in shares of Astronics by 367.2% in the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock worth $1,092,000 after buying an additional 44,070 shares during the last quarter. Stifel Financial Corp purchased a new stake in shares of Astronics in the third quarter worth about $212,000. JPMorgan Chase & Co. boosted its stake in shares of Astronics by 108.3% in the third quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company’s stock worth $1,811,000 after buying an additional 48,328 shares during the last quarter. Finally, Skylands Capital LLC purchased a new stake in shares of Astronics in the fourth quarter worth about $1,622,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Insider Buying and Selling at Astronics

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 6,346 shares of the company’s stock, valued at $155,794.30. This represents a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ATRO shares. Truist Financial upped their target price on 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 Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th.

Astronics Stock Performance

Shares of ATRO stock opened at $25.35 on Monday. The company has a market capitalization of $894.07 million, a P/E ratio of -133.41 and a beta of 1.74. The business’s 50 day moving average is $19.96 and its two-hundred day moving average is $18.58. 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.

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

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.