Needham Investment Management LLC Buys 22,500 Shares of Astronics Co. (NASDAQ:ATRO)

Needham Investment Management LLC increased its holdings in Astronics Co. (NASDAQ:ATRO) by 9.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 owned about 0.77% of Astronics worth $5,211,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ATRO. Point72 Asset Management L.P. bought a new position in shares of Astronics in the second quarter valued at approximately $25,000. nVerses Capital LLC bought a new position in shares of Astronics in the second quarter valued at approximately $28,000. Public Employees Retirement System of Ohio bought a new position in shares of Astronics in the first quarter valued at approximately $31,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Astronics in the third quarter valued at approximately $106,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Astronics by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock valued at $163,000 after acquiring an additional 971 shares in the last quarter. 56.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Astronics Price Performance

Astronics stock traded down $0.04 during trading on Tuesday, hitting $16.53. The stock had a trading volume of 39,929 shares, compared to its average volume of 177,507. Astronics Co. has a 1 year low of $14.13 and a 1 year high of $23.74. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The stock’s 50 day moving average is $18.40 and its two-hundred day moving average is $19.59.

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.