Teton Advisors Inc. Sells 6,000 Shares of Astronics Co. (NASDAQ:ATRO)

Teton Advisors Inc. trimmed its holdings in Astronics Co. (NASDAQ:ATRO) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 172,000 shares of the aerospace company’s stock after selling 6,000 shares during the period. Astronics accounts for about 1.4% of Teton Advisors Inc.’s portfolio, making the stock its 19th biggest holding. Teton Advisors Inc. owned approximately 0.49% of Astronics worth $2,745,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in shares of Astronics by 3.4% during the fourth quarter. Franklin Resources Inc. now owns 20,882 shares of the aerospace company’s stock worth $333,000 after acquiring an additional 693 shares during the period. Swiss National Bank lifted its holdings in Astronics by 2.2% during the 4th quarter. Swiss National Bank now owns 54,800 shares of the aerospace company’s stock worth $875,000 after purchasing an additional 1,200 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Astronics by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 81,169 shares of the aerospace company’s stock valued at $1,581,000 after purchasing an additional 1,432 shares during the period. Federated Hermes Inc. grew its holdings in Astronics by 4.7% in the 4th quarter. Federated Hermes Inc. now owns 35,844 shares of the aerospace company’s stock valued at $572,000 after buying an additional 1,612 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Astronics by 2.7% during the 4th quarter. Legal & General Group Plc now owns 68,426 shares of the aerospace company’s stock worth $1,092,000 after buying an additional 1,770 shares during the period. 56.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Truist Financial increased 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 Stock Performance

NASDAQ:ATRO opened at $22.81 on Tuesday. The company has a market cap of $804.49 million, a price-to-earnings ratio of -120.05 and a beta of 1.26. Astronics Co. has a fifty-two week low of $14.13 and a fifty-two week high of $26.63. 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 fifty day moving average price of $22.28 and a 200-day moving average price of $19.10.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.27. The business had revenue of $208.54 million during the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.35 earnings per share. As a group, equities analysts anticipate that Astronics Co. will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling at Astronics

In other news, Director Robert S. Keane sold 77,099 shares of Astronics stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.55, for a total value of $1,892,780.45. Following the transaction, the director now owns 6,346 shares in the company, 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 SEC, which is accessible through this hyperlink. Company insiders own 10.86% of the company’s stock.

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.