Russell Investments Group Ltd. increased its position in shares of Astronics Co. (NASDAQ:ATRO) by 141.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,324 shares of the aerospace company’s stock after acquiring an additional 25,994 shares during the period. Russell Investments Group Ltd. owned about 0.15% of Astronics worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Legal & General Group Plc raised its stake in Astronics by 10.7% during the second quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock worth $172,000 after buying an additional 546 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Astronics by 26.4% during the second quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock worth $183,000 after buying an additional 1,254 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in Astronics by 28.5% during the second quarter. Tudor Investment Corp ET AL now owns 9,727 shares of the aerospace company’s stock worth $296,000 after buying an additional 2,158 shares during the last quarter. Marshall Wace North America L.P. bought a new position in Astronics during the second quarter worth $294,000. Finally, Voya Investment Management LLC grew its holdings in Astronics by 11.2% in the second quarter. Voya Investment Management LLC now owns 10,719 shares of the aerospace company’s stock worth $327,000 after purchasing an additional 1,078 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.
A number of equities research analysts have commented on ATRO shares. Canaccord Genuity restated a “buy” rating and set a $36.00 price target on shares of Astronics in a report on Thursday, October 5th. SunTrust Banks reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Astronics in a research report on Thursday, October 12th. Zacks Investment Research raised shares of Astronics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Dougherty & Co boosted their price target on shares of Astronics from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, BidaskClub lowered shares of Astronics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $45.25.
Shares of Astronics Co. (NASDAQ:ATRO) opened at $40.97 on Friday. Astronics Co. has a 12 month low of $23.95 and a 12 month high of $44.19. The company has a quick ratio of 1.57, a current ratio of 3.07 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1,180.00, a price-to-earnings ratio of 34.72, a PEG ratio of 2.13 and a beta of 1.52.
Astronics (NASDAQ:ATRO) last issued its quarterly earnings data on Tuesday, November 7th. The aerospace company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.14). Astronics had a return on equity of 10.29% and a net margin of 5.80%. The company had revenue of $149.64 million during the quarter, compared to the consensus estimate of $154.90 million. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. analysts forecast that Astronics Co. will post 1.29 earnings per share for the current fiscal year.
Astronics announced that its board has initiated a stock repurchase plan on Monday, December 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, Director Robert J. Mckenna sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total value of $1,755,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 16.45% of the company’s stock.
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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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