Gamco Investors INC. ET AL Acquires 3,500 Shares of Astronics Co. (NASDAQ:ATRO)

Gamco Investors INC. ET AL boosted its holdings in shares of Astronics Co. (NASDAQ:ATRO) by 27.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,300 shares of the aerospace company’s stock after buying an additional 3,500 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Astronics were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ATRO. Franklin Resources Inc. grew its position in shares of Astronics by 3.4% during the 4th quarter. Franklin Resources Inc. now owns 20,882 shares of the aerospace company’s stock valued at $333,000 after acquiring an additional 693 shares during the period. Swiss National Bank lifted its position in Astronics by 2.2% during the fourth quarter. Swiss National Bank now owns 54,800 shares of the aerospace company’s stock valued at $875,000 after purchasing an additional 1,200 shares in the last quarter. Federated Hermes Inc. grew its holdings in Astronics by 4.7% during the fourth quarter. Federated Hermes Inc. now owns 35,844 shares of the aerospace company’s stock valued at $572,000 after purchasing an additional 1,612 shares during the period. Legal & General Group Plc increased its position in Astronics by 2.7% in the fourth 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 in the last quarter. Finally, AlphaQuest LLC raised its stake in shares of Astronics by 355.5% in the fourth quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after buying an additional 2,791 shares during the period. 56.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Astronics

In related 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 directly owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This represents a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.83% of the company’s stock.

Astronics Stock Performance

NASDAQ ATRO opened at $21.76 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. Astronics Co. has a twelve month low of $14.13 and a twelve month high of $26.63. The business has a 50-day moving average price of $22.56 and a 200-day moving average price of $19.18. The firm has a market cap of $767.45 million, a price-to-earnings ratio of -114.52 and a beta of 1.26.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data 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. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The firm had revenue of $208.54 million for the quarter, compared to analysts’ expectations of $194.91 million. During the same quarter last year, the business posted $0.35 earnings per share. As a group, equities research analysts predict that Astronics Co. will post 0.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ATRO. Truist Financial cut their price objective on Astronics from $23.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday. StockNews.com raised 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.