Franklin Resources Inc. Acquires 1,274 Shares of Astronics Co. (NASDAQ:ATRO)

Franklin Resources Inc. increased its stake in shares of Astronics Co. (NASDAQ:ATRO) by 6.7% in the third quarter, Holdings Channel.com reports. The fund owned 20,189 shares of the aerospace company’s stock after purchasing an additional 1,274 shares during the period. Franklin Resources Inc.’s holdings in Astronics were worth $411,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in Astronics during the 2nd quarter valued at approximately $25,000. nVerses Capital LLC purchased a new position in Astronics during the second quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Astronics during the 3rd quarter valued at about $106,000. DekaBank Deutsche Girozentrale raised its position in 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 purchasing an additional 971 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in Astronics in the third quarter worth about $202,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Trading Up 1.0 %

NASDAQ:ATRO opened at $15.96 on Wednesday. The firm has a 50 day moving average of $16.87 and a 200 day moving average of $19.02. The stock has a market capitalization of $562.78 million, a price-to-earnings ratio of -84.00 and a beta of 1.79. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. Astronics Co. has a 52 week low of $14.13 and a 52 week high of $23.74.

Analyst Upgrades and Downgrades

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

Astronics 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.