Bank of New York Mellon Corp Has $1.73 Million Holdings in Astronics Co. (NASDAQ:ATRO)

Bank of New York Mellon Corp lifted its holdings in shares of Astronics Co. (NASDAQ:ATRO) by 16.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,231 shares of the aerospace company’s stock after purchasing an additional 15,242 shares during the quarter. Bank of New York Mellon Corp owned 0.31% of Astronics worth $1,727,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Skylands Capital LLC acquired a new position in shares of Astronics during the fourth quarter worth $1,622,000. State Street Corp increased its position in shares of Astronics by 6.7% during the third quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock worth $18,001,000 after acquiring an additional 58,356 shares in the last quarter. JPMorgan Chase & Co. grew its position in Astronics by 108.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company’s stock worth $1,811,000 after purchasing an additional 48,328 shares in the last quarter. Algert Global LLC boosted its stake in Astronics by 367.2% in the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock valued at $1,092,000 after acquiring an additional 44,070 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Astronics by 328.2% during the 3rd quarter. Barclays PLC now owns 45,313 shares of the aerospace company’s stock valued at $883,000 after buying an additional 34,730 shares in the last quarter. 56.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ATRO has been the topic of a number of research analyst reports. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Truist Financial boosted their price objective on shares of Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, March 5th.

Astronics Stock Up 1.4 %

Shares of ATRO stock opened at $25.35 on Friday. The stock has a market cap of $894.07 million, a P/E ratio of -133.41 and a beta of 1.74. Astronics Co. has a 12 month low of $14.13 and a 12 month high of $25.54. The company has a 50 day simple moving average of $19.96 and a two-hundred day simple moving average of $18.60. 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 (NASDAQ:ATRO) last released its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The business had revenue of $208.54 million during the quarter, compared to analyst estimates of $194.91 million. During the same quarter last year, the business earned $0.35 earnings per share. On average, research analysts expect that Astronics Co. will post 0.82 earnings per share for the current year.

Insiders Place Their Bets

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the completion of the transaction, the director now directly owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This trade represents a 92.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.86% of the stock is owned by company 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.