Reinhart Partners Inc. boosted its stake in shares of Astronics Co. (NASDAQ:ATRO) by 38.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 164,128 shares of the aerospace company’s stock after buying an additional 45,171 shares during the period. Reinhart Partners Inc. owned approximately 0.50% of Astronics worth $5,370,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. CNB Bank acquired a new stake in Astronics during the 4th quarter valued at $33,000. Bremer Trust National Association bought a new position in Astronics in the fourth quarter valued at about $61,000. Advisor Group Inc. grew its position in Astronics by 378.6% in the fourth quarter. Advisor Group Inc. now owns 2,307 shares of the aerospace company’s stock valued at $70,000 after acquiring an additional 1,825 shares during the last quarter. First Interstate Bank grew its position in Astronics by 17.5% in the fourth quarter. First Interstate Bank now owns 3,555 shares of the aerospace company’s stock valued at $108,000 after acquiring an additional 530 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Astronics by 87.9% in the fourth quarter. Great West Life Assurance Co. Can now owns 3,728 shares of the aerospace company’s stock valued at $110,000 after acquiring an additional 1,744 shares during the last quarter. Hedge funds and other institutional investors own 66.84% of the company’s stock.
Several analysts have recently weighed in on the company. BidaskClub upgraded Astronics from a “hold” rating to a “buy” rating in a report on Tuesday, December 18th. Zacks Investment Research cut Astronics from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $37.00.
ATRO traded down $0.12 during trading on Wednesday, hitting $32.38. The company’s stock had a trading volume of 5,434 shares, compared to its average volume of 129,151. 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 Co. has a twelve month low of $27.56 and a twelve month high of $46.56. The firm has a market cap of $1.07 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 1.90 and a beta of 1.82.
Astronics (NASDAQ:ATRO) last issued its earnings results on Thursday, February 21st. The aerospace company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The company had revenue of $202.92 million for the quarter, compared to analyst estimates of $195.09 million. Astronics had a return on equity of 12.95% and a net margin of 5.83%. Astronics’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.18) earnings per share. Research analysts predict that Astronics Co. will post 1.71 EPS for the current fiscal year.
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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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