Deutsche Bank AG lowered its stake in Astronics Co. (NASDAQ:ATRO) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,769 shares of the aerospace company’s stock after selling 2,644 shares during the quarter. Deutsche Bank AG’s holdings in Astronics were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. grew its stake in Astronics by 16.9% during the 4th quarter. BlackRock Inc. now owns 2,941,886 shares of the aerospace company’s stock valued at $89,581,000 after acquiring an additional 425,325 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Astronics by 240.6% during the 4th quarter. Bank of New York Mellon Corp now owns 323,261 shares of the aerospace company’s stock valued at $9,843,000 after acquiring an additional 228,363 shares in the last quarter. Federated Investors Inc. PA grew its stake in Astronics by 148.3% during the 3rd quarter. Federated Investors Inc. PA now owns 357,000 shares of the aerospace company’s stock valued at $15,530,000 after acquiring an additional 213,200 shares in the last quarter. Millennium Management LLC grew its stake in Astronics by 80.8% during the 4th quarter. Millennium Management LLC now owns 249,945 shares of the aerospace company’s stock valued at $7,611,000 after acquiring an additional 111,735 shares in the last quarter. Finally, Reinhart Partners Inc. grew its stake in Astronics by 109.7% during the 4th quarter. Reinhart Partners Inc. now owns 118,957 shares of the aerospace company’s stock valued at $3,622,000 after acquiring an additional 62,240 shares in the last quarter. 67.07% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Astronics from a “sell” rating to a “hold” rating in a research note on Thursday. ValuEngine raised Astronics from a “hold” rating to a “buy” rating in a research note on Wednesday. BidaskClub raised Astronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Finally, Seaport Global Securities assumed coverage on Astronics in a research note on Wednesday, May 1st. They set a “buy” rating and a $42.00 target price on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $38.67.
NASDAQ:ATRO opened at $39.68 on Friday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 2.05 and a beta of 1.79. Astronics Co. has a fifty-two week low of $27.56 and a fifty-two week high of $46.56. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.84 and a current ratio of 2.92.
Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Wednesday, May 8th. The aerospace company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.11. The business had revenue of $208.20 million during the quarter, compared to analysts’ expectations of $192.10 million. Astronics had a return on equity of 12.95% and a net margin of 5.83%. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. As a group, equities analysts forecast that Astronics Co. will post 1.63 earnings per share for the current fiscal year.
Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, electronics, and semiconductor industries worldwide. It operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems; electrical power generation, distribution, and motions systems; aircraft structures; avionics products; system certification; and connectivity and other products.
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