UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Astronics Co. (NASDAQ:ATRO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in Astronics Co. (NASDAQ:ATRO) by 17.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 33,541 shares of the aerospace company’s stock after selling 7,105 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Astronics were worth $653,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ATRO. DekaBank Deutsche Girozentrale boosted its stake in Astronics by 13.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock valued at $163,000 after purchasing an additional 971 shares during the last quarter. RiverPark Advisors LLC raised its position in Astronics by 3.5% in the 3rd quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company’s stock worth $592,000 after buying an additional 1,015 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Astronics by 10.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company’s stock valued at $224,000 after acquiring an additional 1,094 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Astronics during the 2nd quarter valued at about $25,000. Finally, nVerses Capital LLC purchased a new position in shares of Astronics during the second quarter valued at approximately $28,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Trading Up 0.2 %

Astronics stock opened at $15.89 on Friday. The business has a 50-day simple moving average of $17.41 and a two-hundred day simple moving average of $19.17. Astronics Co. has a 52-week low of $14.13 and a 52-week high of $23.74. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The company has a market cap of $560.31 million, a P/E ratio of -83.63 and a beta of 1.79.

Analysts Set New Price Targets

Separately, Truist Financial cut their target price on shares of Astronics from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, October 18th.

Astronics 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.