Wellington Management Group LLP Sells 21,988 Shares of Astronics Co. (NASDAQ:ATRO)

Wellington Management Group LLP decreased its holdings in Astronics Co. (NASDAQ:ATRO) by 8.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,628 shares of the aerospace company’s stock after selling 21,988 shares during the period. Wellington Management Group LLP owned about 0.72% of Astronics worth $4,902,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp raised its stake in Astronics by 6.7% in the 3rd quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock valued at $18,001,000 after acquiring an additional 58,356 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Astronics in the third quarter valued at $964,000. Algert Global LLC raised its position in shares of 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 purchasing an additional 44,070 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Astronics during the 2nd quarter worth about $857,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Astronics by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company’s stock worth $17,806,000 after buying an additional 40,438 shares during the period. 56.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Astronics Stock Performance

ATRO opened at $16.60 on Tuesday. 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 company has a market capitalization of $585.35 million, a PE ratio of -87.37 and a beta of 1.79. The business has a fifty day simple moving average of $17.73 and a 200 day simple moving average of $19.27. Astronics Co. has a 1 year low of $14.13 and a 1 year high of $23.74.

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.