Robert S. Keane Sells 77,099 Shares of Astronics Co. (NASDAQ:ATRO) Stock

Astronics Co. (NASDAQ:ATRO) Director Robert S. Keane sold 77,099 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the transaction, the director now directly owns 6,346 shares of the company’s stock, valued at approximately $155,794.30. This represents a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Astronics Price Performance

Shares of ATRO stock opened at $24.28 on Thursday. The firm has a market cap of $856.16 million, a P/E ratio of -127.78 and a beta of 1.74. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. Astronics Co. has a 1-year low of $14.13 and a 1-year high of $25.54. The firm has a fifty day moving average of $18.52 and a two-hundred day moving average of $18.40.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings results on Tuesday, March 4th. The aerospace company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.21 by $0.27. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. The business had revenue of $208.54 million during the quarter, compared to analyst estimates of $194.91 million. During the same period in the previous year, the business posted $0.35 EPS. As a group, research analysts anticipate that Astronics Co. will post 0.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ATRO. Truist Financial raised their price objective on shares of Astronics from $17.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, March 5th. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a report on Thursday, March 6th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Astronics by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,422 shares of the aerospace company’s stock valued at $262,000 after buying an additional 684 shares during the period. Franklin Resources Inc. lifted its position in Astronics by 3.4% in the 4th quarter. Franklin Resources Inc. now owns 20,882 shares of the aerospace company’s stock valued at $333,000 after purchasing an additional 693 shares during the last quarter. RiverPark Advisors LLC lifted its position in Astronics by 3.5% in the 3rd quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company’s stock valued at $592,000 after purchasing an additional 1,015 shares during the last quarter. Swiss National Bank lifted its position in Astronics by 2.2% in the 4th quarter. Swiss National Bank now owns 54,800 shares of the aerospace company’s stock valued at $875,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Astronics by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 81,169 shares of the aerospace company’s stock valued at $1,581,000 after purchasing an additional 1,432 shares during the last quarter. 56.68% of the stock is owned by institutional investors and hedge funds.

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.