Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 48,618 Astronics Co. (NASDAQ:ATRO)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Astronics Co. (NASDAQ:ATRO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 48,618 shares of the aerospace company’s stock, valued at approximately $776,000. Connor Clark & Lunn Investment Management Ltd. owned 0.14% of Astronics as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its stake in Astronics by 328.2% during the third quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock worth $883,000 after buying an additional 34,730 shares during the period. Algert Global LLC grew its stake in Astronics by 367.2% during the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock worth $1,092,000 after buying an additional 44,070 shares during the period. Stifel Financial Corp purchased a new stake in Astronics during the third quarter worth approximately $212,000. JPMorgan Chase & Co. grew its stake in Astronics by 108.3% during the third quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company’s stock worth $1,811,000 after buying an additional 48,328 shares during the period. Finally, Skylands Capital LLC purchased a new stake in Astronics during the fourth quarter worth approximately $1,622,000. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on ATRO shares. StockNews.com upgraded shares of Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Truist Financial upped their target price on shares of Astronics from $17.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, March 5th.

Astronics Price Performance

Shares of ATRO stock opened at $25.35 on Friday. The company has a market capitalization of $894.07 million, a PE ratio of -133.41 and a beta of 1.74. The firm has a fifty day simple moving average of $19.96 and a 200-day simple moving average of $18.61. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. Astronics Co. has a twelve month low of $14.13 and a twelve month high of $25.54.

Astronics (NASDAQ:ATRO) last announced its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.27. The business had revenue of $208.54 million during the quarter, compared to the consensus estimate of $194.91 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. During the same period in the prior year, the firm earned $0.35 earnings per share. Equities research analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Insider Activity at Astronics

In related news, Director Robert S. Keane sold 77,099 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares of the company’s stock, valued at $155,794.30. This represents a 92.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.86% of the stock is currently owned by corporate insiders.

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.