Allspring Global Investments Holdings LLC Has $219,000 Stock Position in Astronics Co. (NASDAQ:ATRO)

Allspring Global Investments Holdings LLC grew its holdings in Astronics Co. (NASDAQ:ATRO) by 4,973.1% in the second quarter, Holdings Channel.com reports. The firm owned 10,958 shares of the aerospace company’s stock after purchasing an additional 10,742 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Astronics were worth $219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. American International Group Inc. increased its stake in shares of Astronics by 4.5% in the first quarter. American International Group Inc. now owns 13,662 shares of the aerospace company’s stock worth $260,000 after acquiring an additional 589 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Astronics in the 1st quarter worth about $31,000. Russell Investments Group Ltd. increased its position in Astronics by 9.6% in the 1st quarter. Russell Investments Group Ltd. now owns 23,900 shares of the aerospace company’s stock worth $455,000 after purchasing an additional 2,100 shares during the last quarter. Swiss National Bank raised its stake in shares of Astronics by 5.4% during the 1st quarter. Swiss National Bank now owns 52,400 shares of the aerospace company’s stock worth $998,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel grew its stake in shares of Astronics by 856.5% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock valued at $77,000 after buying an additional 3,897 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Stock Down 7.3 %

ATRO stock opened at $19.10 on Friday. The firm has a market cap of $665.48 million, a PE ratio of -24.81 and a beta of 1.83. Astronics Co. has a 1 year low of $14.11 and a 1 year high of $23.74. The company has a fifty day simple moving average of $20.66 and a 200 day simple moving average of $19.33. The company has a current ratio of 2.92, a quick ratio of 1.50 and a debt-to-equity ratio of 0.67.

Astronics (NASDAQ:ATRO) last announced its quarterly earnings results on Thursday, August 1st. The aerospace company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.13). The company had revenue of $198.11 million during the quarter, compared to analyst estimates of $191.19 million. Astronics had a negative return on equity of 0.31% and a negative net margin of 1.57%. During the same period in the prior year, the firm earned ($0.37) EPS. Sell-side analysts anticipate that Astronics Co. will post 0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Truist Financial raised their price objective on shares of Astronics from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, August 2nd.

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.