Virginia Retirement Systems ET AL acquired a new stake in shares of Astronics Corp. (NASDAQ:ATRO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 32,124 shares of the company’s stock, valued at approximately $1,068,000. Virginia Retirement Systems ET AL owned about 0.13% of Astronics Corp. as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in ATRO. Wellington Management Group LLP raised its stake in Astronics Corp. by 5.9% in the first quarter. Wellington Management Group LLP now owns 1,580,396 shares of the company’s stock valued at $60,292,000 after buying an additional 87,543 shares during the period. Royal Bank of Canada raised its stake in shares of Astronics Corp. by 10.2% in the first quarter. Royal Bank of Canada now owns 1,428,005 shares of the company’s stock worth $54,479,000 after buying an additional 132,410 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Astronics Corp. by 6.2% in the second quarter. Neuberger Berman Group LLC now owns 1,384,191 shares of the company’s stock worth $46,038,000 after buying an additional 80,750 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Astronics Corp. by 1.3% in the first quarter. Franklin Resources Inc. now owns 1,241,528 shares of the company’s stock worth $47,364,000 after buying an additional 16,294 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Astronics Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 939,855 shares of the company’s stock worth $31,259,000 after buying an additional 7,004 shares during the last quarter. 65.80% of the stock is currently owned by institutional investors and hedge funds.
Astronics Corp. (NASDAQ:ATRO) opened at 45.05 on Friday. The company has a 50 day moving average price of $43.61 and a 200-day moving average price of $38.43. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 18.25 and a beta of 1.14. Astronics Corp. has a 1-year low of $24.75 and a 1-year high of $48.00.
Astronics Corp. (NASDAQ:ATRO) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. The firm had revenue of $164.40 million for the quarter, compared to the consensus estimate of $162.17 million. Astronics Corp. had a return on equity of 21.44% and a net margin of 9.55%. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period last year, the business posted $0.77 EPS. On average, analysts forecast that Astronics Corp. will post $2.21 EPS for the current fiscal year.
A number of analysts have recently commented on the company. Canaccord Genuity reissued a “buy” rating on shares of Astronics Corp. in a research note on Thursday, August 4th. KeyCorp raised Astronics Corp. from a “sector weight” rating to an “overweight” rating in a research note on Wednesday, June 29th.
In other news, Director John B. Drenning sold 5,000 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $43.47, for a total value of $217,350.00. Following the transaction, the director now directly owns 52,039 shares in the company, valued at approximately $2,262,135.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 16.03% of the stock is owned by insiders.
Astronics Corp. Company Profile
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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