Astronics Co. (ATRO) Stake Increased by Reinhart Partners Inc.

Reinhart Partners Inc. lifted its stake in shares of Astronics Co. (NASDAQ:ATRO) by 36.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,089 shares of the aerospace company’s stock after buying an additional 19,750 shares during the quarter. Reinhart Partners Inc. owned about 0.26% of Astronics worth $3,072,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ATRO. Legal & General Group Plc lifted its position 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 buying an additional 546 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Astronics by 26.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,999 shares of the aerospace company’s stock worth $183,000 after buying an additional 1,254 shares during the last quarter. Tudor Investment Corp ET AL lifted its position in shares of Astronics by 28.5% during the 2nd quarter. Tudor Investment Corp ET AL now owns 9,727 shares of the aerospace company’s stock worth $296,000 after buying an additional 2,158 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Astronics by 11.2% during the 2nd quarter. Voya Investment Management LLC now owns 10,719 shares of the aerospace company’s stock worth $327,000 after buying an additional 1,078 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in shares of Astronics during the 2nd quarter worth approximately $522,000. Institutional investors and hedge funds own 65.64% of the company’s stock.

Shares of Astronics Co. (NASDAQ ATRO) opened at $46.36 on Tuesday. Astronics Co. has a 12-month low of $23.95 and a 12-month high of $49.45. The company has a market cap of $1,294.21, a price-to-earnings ratio of 39.29, a P/E/G ratio of 2.24 and a beta of 1.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.07 and a quick ratio of 1.57.

Astronics (NASDAQ:ATRO) last released its quarterly earnings results on Tuesday, November 7th. The aerospace company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.14). Astronics had a net margin of 5.80% and a return on equity of 10.29%. The business had revenue of $149.64 million during the quarter, compared to analysts’ expectations of $154.90 million. During the same quarter last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. equities analysts forecast that Astronics Co. will post 1.28 earnings per share for the current year.

Astronics declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 18th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Several research firms recently commented on ATRO. SunTrust Banks reiterated a “hold” rating and issued a $48.00 price target on shares of Astronics in a research report on Friday. BidaskClub downgraded shares of Astronics from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 29th. Canaccord Genuity reiterated a “buy” rating and issued a $36.00 price target on shares of Astronics in a research report on Thursday, October 5th. Dougherty & Co upped their price target on shares of Astronics from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research upgraded shares of Astronics from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $46.25.

In other Astronics news, Director Robert J. Mckenna sold 45,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.00, for a total value of $1,755,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. 16.45% of the stock is owned by corporate insiders.

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About Astronics

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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Institutional Ownership by Quarter for Astronics (NASDAQ:ATRO)

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