Astronics Co. (ATRO) Shares Bought by New York State Common Retirement Fund
New York State Common Retirement Fund lifted its holdings in shares of Astronics Co. (NASDAQ:ATRO) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,908 shares of the aerospace company’s stock after buying an additional 2,035 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of Astronics worth $1,098,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in Astronics by 918.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 18,330 shares of the aerospace company’s stock valued at $559,000 after buying an additional 16,530 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Astronics by 8.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 87,636 shares of the aerospace company’s stock valued at $2,671,000 after buying an additional 6,922 shares in the last quarter. Rhumbline Advisers grew its holdings in Astronics by 9.2% in the 2nd quarter. Rhumbline Advisers now owns 26,768 shares of the aerospace company’s stock valued at $816,000 after buying an additional 2,248 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Astronics by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 101,491 shares of the aerospace company’s stock valued at $3,092,000 after buying an additional 2,571 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Astronics by 10.7% during the 2nd quarter. Legal & General Group Plc now owns 5,630 shares of the aerospace company’s stock worth $172,000 after purchasing an additional 546 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.
Shares of Astronics Co. (NASDAQ:ATRO) opened at $40.65 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.57 and a current ratio of 3.07. Astronics Co. has a 12-month low of $23.95 and a 12-month high of $44.19. The firm has a market capitalization of $1,131.80, a PE ratio of 34.45, a PEG ratio of 2.09 and a beta of 1.10.
Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Tuesday, November 7th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). The firm had revenue of $149.64 million for the quarter, compared to analysts’ expectations of $154.90 million. Astronics had a return on equity of 10.29% and a net margin of 5.80%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. research analysts forecast that Astronics Co. will post 1.29 earnings per share for the current fiscal year.
Astronics announced that its board has authorized a share buyback plan on Monday, December 18th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In other Astronics news, Director Robert J. Mckenna sold 45,000 shares of Astronics stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $39.00, for a total value of $1,755,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 16.45% of the company’s stock.
A number of equities analysts have recently weighed in on ATRO shares. Canaccord Genuity reiterated a “buy” rating and set a $40.00 price target on shares of Astronics in a report on Tuesday, November 7th. SunTrust Banks reissued a “hold” rating and set a $30.00 target price on shares of Astronics in a research note on Thursday, October 12th. Dougherty & Co increased their target price on Astronics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, December 4th. Zacks Investment Research raised Astronics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, BidaskClub lowered Astronics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $43.00.
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Astronics Company Profile
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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