Astronics Corporation (ATRO) Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in Astronics Corporation (NASDAQ:ATRO) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,136,793 shares of the aerospace company’s stock after selling 74,275 shares during the period. PNC Financial Services Group Inc. owned about 3.99% of Astronics Corporation worth $34,638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Creative Planning lifted its position in Astronics Corporation by 0.9% in the second quarter. Creative Planning now owns 10,900 shares of the aerospace company’s stock valued at $332,000 after purchasing an additional 100 shares during the period. BNP Paribas Arbitrage SA lifted its position in Astronics Corporation by 11.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,745 shares of the aerospace company’s stock valued at $151,000 after purchasing an additional 472 shares during the period. Nationwide Fund Advisors lifted its position in Astronics Corporation by 1.8% in the first quarter. Nationwide Fund Advisors now owns 27,030 shares of the aerospace company’s stock valued at $858,000 after purchasing an additional 475 shares during the period. Legal & General Group Plc lifted its position in Astronics Corporation by 12.0% in the first quarter. Legal & General Group Plc now owns 5,084 shares of the aerospace company’s stock valued at $161,000 after purchasing an additional 543 shares during the period. Finally, Teachers Advisors LLC lifted its position in Astronics Corporation by 2.0% in the first quarter. Teachers Advisors LLC now owns 37,532 shares of the aerospace company’s stock valued at $1,191,000 after purchasing an additional 732 shares during the period. Hedge funds and other institutional investors own 65.59% of the company’s stock.

Shares of Astronics Corporation (NASDAQ ATRO) traded down 0.76% during midday trading on Tuesday, reaching $28.69. 2,272 shares of the company were exchanged. Astronics Corporation has a 52-week low of $23.95 and a 52-week high of $41.03. The stock has a market capitalization of $823.43 million, a price-to-earnings ratio of 20.82 and a beta of 1.17. The company’s 50-day moving average price is $26.63 and its 200 day moving average price is $29.76.

Astronics Corporation (NASDAQ:ATRO) last posted its earnings results on Wednesday, August 2nd. The aerospace company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.14). The firm had revenue of $151.11 million for the quarter, compared to analyst estimates of $162.33 million. Astronics Corporation had a net margin of 6.73% and a return on equity of 12.12%. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share. On average, equities analysts predict that Astronics Corporation will post $1.42 earnings per share for the current year.

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ATRO has been the subject of a number of recent analyst reports. Canaccord Genuity restated a “buy” rating and issued a $34.00 price objective on shares of Astronics Corporation in a research report on Wednesday, August 16th. Zacks Investment Research upgraded shares of Astronics Corporation from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, July 4th. TheStreet downgraded shares of Astronics Corporation from a “b-” rating to a “c+” rating in a research report on Wednesday, June 7th. Finally, BidaskClub downgraded shares of Astronics Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $34.33.

Astronics Corporation 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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Institutional Ownership by Quarter for Astronics Corporation (NASDAQ:ATRO)

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