Astronics Co. (NASDAQ:ATRO) Stock Position Lifted by Verition Fund Management LLC

Verition Fund Management LLC increased its stake in Astronics Co. (NASDAQ:ATRO) by 92.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 20,700 shares of the aerospace company’s stock after acquiring an additional 9,956 shares during the period. Verition Fund Management LLC’s holdings in Astronics were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new stake in Astronics in the 2nd quarter valued at approximately $25,000. nVerses Capital LLC acquired a new position in shares of Astronics during the 2nd quarter valued at $28,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Astronics by 13.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock worth $163,000 after acquiring an additional 971 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 worth $219,000 after acquiring an additional 10,742 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Astronics by 10.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company’s stock worth $224,000 after acquiring an additional 1,094 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

Analysts Set New Price Targets

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

Astronics Price Performance

ATRO opened at $16.21 on Friday. The stock has a market cap of $571.60 million, a price-to-earnings ratio of -85.32 and a beta of 1.79. Astronics Co. has a 1 year low of $14.13 and a 1 year high of $23.74. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average price of $17.86 and a 200 day moving average price of $19.36.

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.