Insider Selling: Astronics Co. (NASDAQ:ATRO) Director Sells $1,892,780.45 in Stock

Astronics Co. (NASDAQ:ATRO) Director Robert S. Keane sold 77,099 shares of the business’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 sale, the director now owns 6,346 shares in the company, valued at $155,794.30. The trade was a 92.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Astronics Stock Performance

Shares of ATRO stock opened at $24.23 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The stock has a market cap of $854.40 million, a PE ratio of -127.52 and a beta of 1.74. Astronics Co. has a 1 year low of $14.13 and a 1 year high of $25.54. The stock has a fifty day moving average price of $18.68 and a 200 day moving average price of $18.44.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ATRO. Truist Financial raised their price objective on shares of Astronics from $17.00 to $23.00 and gave the company a “hold” rating in a research note 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 Trading of Astronics

Large investors have recently modified their holdings of the business. AlphaQuest LLC raised its position in shares of Astronics by 355.5% during the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company’s stock worth $57,000 after purchasing an additional 2,791 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Astronics by 167.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after buying an additional 2,600 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Astronics in the fourth quarter worth $73,000. Point72 Asset Management L.P. lifted its position in shares of Astronics by 337.9% in the third quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company’s stock valued at $104,000 after acquiring an additional 4,133 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Astronics in the third quarter valued at $106,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

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.