Wealthspire Advisors LLC Grows Holdings in Astronics Co. (NASDAQ:ATRO)

Wealthspire Advisors LLC increased its position in shares of Astronics Co. (NASDAQ:ATRO) by 42.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,789 shares of the aerospace company’s stock after purchasing an additional 6,523 shares during the quarter. Wealthspire Advisors LLC owned approximately 0.06% of Astronics worth $348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ATRO. Point72 Asset Management L.P. boosted its stake in Astronics by 337.9% in the third quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company’s stock valued at $104,000 after acquiring an additional 4,133 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Astronics in the third quarter valued at about $106,000. Arcadia Investment Management Corp MI purchased a new position in Astronics in the fourth quarter valued at about $135,000. DekaBank Deutsche Girozentrale boosted its stake in Astronics by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock valued at $163,000 after acquiring an additional 971 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in Astronics in the third quarter valued at about $202,000. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Astronics Stock Performance

NASDAQ ATRO opened at $19.94 on Friday. The company’s 50 day moving average is $17.34 and its 200-day moving average is $18.20. Astronics Co. has a 12-month low of $14.13 and a 12-month high of $23.74. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The firm has a market cap of $703.12 million, a P/E ratio of -104.94 and a beta of 1.79.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ATRO shares. Truist Financial lowered their price target on shares of Astronics from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. StockNews.com lowered shares of Astronics from a “buy” rating to a “hold” rating in a research report on Wednesday.

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.