Astronics Co. (NASDAQ:ATRO) Position Boosted by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its holdings in Astronics Co. (NASDAQ:ATRO) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 391,426 shares of the aerospace company’s stock after purchasing an additional 30,550 shares during the period. First Eagle Investment Management LLC owned about 1.12% of Astronics worth $7,840,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bares Capital Management Inc. lifted its position in Astronics by 12.8% in the 4th quarter. Bares Capital Management Inc. now owns 814,692 shares of the aerospace company’s stock worth $14,192,000 after buying an additional 92,574 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Astronics by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company’s stock worth $17,806,000 after acquiring an additional 40,438 shares during the last quarter. Senator Investment Group LP increased its stake in shares of Astronics by 7.3% in the first quarter. Senator Investment Group LP now owns 545,754 shares of the aerospace company’s stock worth $10,391,000 after acquiring an additional 36,980 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Astronics by 289.2% during the fourth quarter. BNP Paribas Financial Markets now owns 38,931 shares of the aerospace company’s stock worth $678,000 after acquiring an additional 28,928 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Astronics during the fourth quarter valued at $465,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Astronics Stock Performance

Shares of ATRO opened at $20.70 on Friday. The firm has a market cap of $721.23 million, a price-to-earnings ratio of -26.88 and a beta of 1.83. The company’s fifty day moving average is $20.48 and its 200-day moving average is $19.34. The company has a quick ratio of 1.50, a current ratio of 2.92 and a debt-to-equity ratio of 0.67. Astronics Co. has a 12 month low of $14.11 and a 12 month high of $23.74.

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

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.