Astronics Co. (NASDAQ:ATRO) Stock Position Raised by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in Astronics Co. (NASDAQ:ATRO) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,875 shares of the aerospace company’s stock after buying an additional 2,906 shares during the quarter. Federated Hermes Inc. owned about 0.10% of Astronics worth $699,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ATRO. Bares Capital Management Inc. grew its position in Astronics by 12.8% in the fourth quarter. Bares Capital Management Inc. now owns 814,692 shares of the aerospace company’s stock worth $14,192,000 after acquiring an additional 92,574 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Astronics by 103.1% during the first quarter. Advisors Asset Management Inc. now owns 47,322 shares of the aerospace company’s stock valued at $901,000 after buying an additional 24,027 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Astronics by 84.5% in the first quarter. GSA Capital Partners LLP now owns 33,248 shares of the aerospace company’s stock worth $633,000 after buying an additional 15,228 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Astronics by 35.1% during the 1st quarter. BNP Paribas Financial Markets now owns 52,587 shares of the aerospace company’s stock worth $1,001,000 after acquiring an additional 13,656 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Astronics during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Wall Street Analyst Weigh In

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

Astronics Stock Performance

Shares of ATRO opened at $20.43 on Monday. The company has a market capitalization of $711.82 million, a PE ratio of -26.53 and a beta of 1.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.92 and a quick ratio of 1.50. Astronics Co. has a one year low of $14.11 and a one year high of $23.74. The company’s fifty day moving average price is $20.47 and its 200 day moving average price is $19.36.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Thursday, August 1st. The aerospace company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). The business had revenue of $198.11 million for 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 posted ($0.37) EPS. As a group, analysts expect that Astronics Co. will post 0.36 earnings per share for the current year.

About Astronics

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.