Hennion & Walsh Asset Management Inc. Takes Position in Astronics Co. (NASDAQ:ATRO)

Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Astronics Co. (NASDAQ:ATRO) during the first quarter, Holdings Channel reports. The fund purchased 12,569 shares of the aerospace company’s stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Fisher Asset Management LLC raised its holdings in shares of Astronics by 9.4% during the 4th quarter. Fisher Asset Management LLC now owns 114,126 shares of the aerospace company’s stock valued at $1,988,000 after purchasing an additional 9,783 shares in the last quarter. Sierra Summit Advisors LLC bought a new position in Astronics in the 4th quarter worth $343,000. Bares Capital Management Inc. raised its holdings 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 acquiring an additional 92,574 shares during the period. ACK Asset Management LLC raised its holdings in Astronics by 1.6% in the 4th quarter. ACK Asset Management LLC now owns 1,529,000 shares of the aerospace company’s stock worth $26,635,000 after acquiring an additional 24,000 shares during the period. Finally, Clear Rock Advisors LLC bought a new position in Astronics in the 4th quarter worth $204,000. Institutional investors own 56.68% of the company’s stock.

Astronics Stock Performance

NASDAQ ATRO opened at $20.40 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.59 and a quick ratio of 1.27. The firm has a market capitalization of $710.74 million, a price-to-earnings ratio of -26.49 and a beta of 1.87. The company’s fifty day moving average is $19.41 and its two-hundred day moving average is $18.23. Astronics Co. has a 52-week low of $14.11 and a 52-week high of $22.44.

Astronics (NASDAQ:ATRO) last issued its earnings results on Thursday, May 2nd. The aerospace company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.14). Astronics had a negative net margin of 3.51% and a negative return on equity of 5.93%. The business had revenue of $185.07 million for the quarter, compared to analyst estimates of $172.74 million. During the same quarter last year, the firm posted ($0.14) earnings per share. Equities research analysts forecast that Astronics Co. will post 0.53 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped their target price on shares of Astronics from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, May 3rd.

Astronics Company 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.