Astronics Co. (NASDAQ:ATRO) Director Sells $1,892,780.45 in Stock

Astronics Co. (NASDAQ:ATRO) Director Robert S. Keane sold 77,099 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were 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 owns 6,346 shares in the company, valued at $155,794.30. The trade was a 92.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Astronics Stock Performance

NASDAQ:ATRO traded up $0.56 during trading hours on Tuesday, hitting $24.59. 590,773 shares of the company traded hands, compared to its average volume of 408,871. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $867.09 million, a price-to-earnings ratio of -129.41 and a beta of 1.74. The firm has a 50-day moving average of $18.34 and a 200 day moving average of $18.37. Astronics Co. has a twelve month low of $14.13 and a twelve month high of $25.54.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.27. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The business had revenue of $208.54 million for the quarter, compared to the consensus estimate of $194.91 million. During the same period last year, the business earned $0.35 earnings per share. On average, analysts forecast that Astronics Co. will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Black Swift Group LLC acquired a new position in shares of Astronics in the 3rd quarter valued at $756,000. RiverPark Advisors LLC raised its position in Astronics by 3.5% in the third quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company’s stock worth $592,000 after purchasing an additional 1,015 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Astronics by 32.2% during the third quarter. Advisors Asset Management Inc. now owns 84,181 shares of the aerospace company’s stock worth $1,640,000 after purchasing an additional 20,514 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Astronics by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 81,169 shares of the aerospace company’s stock valued at $1,581,000 after purchasing an additional 1,432 shares in the last quarter. Finally, Algert Global LLC grew its stake in shares of Astronics by 367.2% in the 3rd quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock valued at $1,092,000 after purchasing an additional 44,070 shares during the period. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ATRO. StockNews.com upgraded Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Truist Financial lifted their price target on Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, March 5th.

About Astronics

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.