DekaBank Deutsche Girozentrale Sells 971 Shares of Astronics Co. (NASDAQ:ATRO)

DekaBank Deutsche Girozentrale lowered its position in shares of Astronics Co. (NASDAQ:ATRO) by 11.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,175 shares of the aerospace company’s stock after selling 971 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Astronics were worth $143,000 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 ATRO. American Century Companies Inc. increased its position in Astronics by 70.3% during the second quarter. American Century Companies Inc. now owns 26,204 shares of the aerospace company’s stock worth $525,000 after acquiring an additional 10,819 shares during the period. Rhumbline Advisers increased its holdings in shares of Astronics by 5.8% during the second quarter. Rhumbline Advisers now owns 67,546 shares of the aerospace company’s stock worth $1,353,000 after purchasing an additional 3,706 shares during the period. nVerses Capital LLC acquired a new stake in shares of Astronics in the second quarter valued at approximately $28,000. RiverPark Advisors LLC boosted its stake in shares of Astronics by 9.6% in the second quarter. RiverPark Advisors LLC now owns 29,379 shares of the aerospace company’s stock valued at $588,000 after buying an additional 2,577 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Astronics by 4,973.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,958 shares of the aerospace company’s stock worth $219,000 after buying an additional 10,742 shares in the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Astronics Stock Performance

NASDAQ ATRO opened at $20.43 on Friday. The firm’s 50 day simple moving average is $20.47 and its 200 day simple moving average is $19.36. The firm has a market capitalization of $711.82 million, a price-to-earnings ratio of -26.53 and a beta of 1.83. The company has a current ratio of 2.92, a quick ratio of 1.50 and a debt-to-equity ratio of 0.67. Astronics Co. has a 1 year low of $14.11 and a 1 year high of $23.74.

Astronics (NASDAQ:ATRO) last released 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 during the quarter, compared to analyst estimates of $191.19 million. Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. During the same period last year, the business earned ($0.37) earnings per share. As a group, research analysts expect that Astronics Co. will post 0.36 earnings per share for the current fiscal year.

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.