Fmr LLC Acquires 8,670 Shares of Astronics Co. (NASDAQ:ATRO)

Fmr LLC boosted its holdings in Astronics Co. (NASDAQ:ATRO) by 22.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,597 shares of the aerospace company’s stock after acquiring an additional 8,670 shares during the period. Fmr LLC’s holdings in Astronics were worth $908,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. raised its position in shares of Astronics by 41.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 17,717 shares of the aerospace company’s stock valued at $355,000 after purchasing an additional 5,148 shares during the period. Bank of New York Mellon Corp raised its holdings in Astronics by 15.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 116,175 shares of the aerospace company’s stock valued at $2,327,000 after acquiring an additional 15,253 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Astronics by 4,973.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,958 shares of the aerospace company’s stock valued at $219,000 after acquiring an additional 10,742 shares during the period. RiverPark Advisors LLC lifted its position in Astronics by 9.6% during the second quarter. RiverPark Advisors LLC now owns 29,379 shares of the aerospace company’s stock worth $588,000 after acquiring an additional 2,577 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Astronics during the second quarter worth approximately $28,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Stock Up 1.8 %

ATRO stock opened at $16.60 on Tuesday. Astronics Co. has a fifty-two week low of $14.13 and a fifty-two week high of $23.74. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The stock has a market capitalization of $585.35 million, a price-to-earnings ratio of -87.37 and a beta of 1.79. The business’s fifty day moving average price is $17.73 and its two-hundred day moving average price is $19.27.

Analyst Upgrades and Downgrades

Separately, Truist Financial lowered their target price on Astronics from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, October 18th.

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.