Needham Investment Management LLC Boosts Stock Position in Astronics Co. (NASDAQ:ATRO)

Needham Investment Management LLC grew its stake in shares of Astronics Co. (NASDAQ:ATRO) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 267,500 shares of the aerospace company’s stock after acquiring an additional 22,500 shares during the period. Needham Investment Management LLC’s holdings in Astronics were worth $5,211,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Astronics by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,448,121 shares of the aerospace company’s stock worth $27,572,000 after acquiring an additional 23,444 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Astronics by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company’s stock worth $17,806,000 after buying an additional 40,438 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Astronics by 8.5% in the second quarter. First Eagle Investment Management LLC now owns 391,426 shares of the aerospace company’s stock worth $7,840,000 after buying an additional 30,550 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Astronics by 15.1% in the second quarter. Bank of New York Mellon Corp now owns 116,175 shares of the aerospace company’s stock worth $2,327,000 after buying an additional 15,253 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Astronics by 32.2% in the third quarter. Advisors Asset Management Inc. now owns 84,181 shares of the aerospace company’s stock worth $1,640,000 after buying an additional 20,514 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Analyst Ratings Changes

Separately, Truist Financial lowered their price objective on Astronics from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, October 18th.

Astronics Stock Down 0.2 %

Shares of ATRO stock traded down $0.04 on Tuesday, reaching $16.53. The company’s stock had a trading volume of 39,929 shares, compared to its average volume of 177,507. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. Astronics Co. has a 12-month low of $14.13 and a 12-month high of $23.74. The stock’s 50 day simple moving average is $18.40 and its 200-day simple moving average is $19.59.

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.