Astronics Co. (NASDAQ:ATRO) Director Robert S. Keane Sells 77,099 Shares

Astronics Co. (NASDAQ:ATRO) Director Robert S. Keane sold 77,099 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the sale, the director now owns 6,346 shares in the company, valued at approximately $155,794.30. This trade represents a 92.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Astronics Price Performance

ATRO opened at $24.23 on Friday. Astronics Co. has a 1 year low of $14.13 and a 1 year high of $25.54. The company’s 50 day simple moving average is $18.68 and its 200 day simple moving average is $18.44. The stock has a market capitalization of $854.40 million, a PE ratio of -127.52 and a beta of 1.74. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The company had revenue of $208.54 million for the quarter, compared to analyst estimates of $194.91 million. During the same quarter last year, the business earned $0.35 EPS. As a group, sell-side analysts expect that Astronics Co. will post 0.82 EPS for the current year.

Institutional Investors Weigh In On Astronics

A number of institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC raised its holdings in shares of Astronics by 355.5% in the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after purchasing an additional 2,791 shares during the period. Public Employees Retirement System of Ohio increased its position in Astronics by 167.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after purchasing an additional 2,600 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Astronics during the 4th quarter worth approximately $73,000. Point72 Asset Management L.P. raised its holdings 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 buying an additional 4,133 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Astronics during the third quarter valued at approximately $106,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

Astronics Company 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.