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Robert S. Keane, a director at Astronics Corp (NASDAQ:ATRO), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Keane sold a total of 77,099 shares of Astronics at a price of $24.55 per share, amounting to approximately $1.89 million. The timing of the sale coincides with the stock’s strong performance, having gained over 50% year-to-date and trading near its 52-week high of $25.54.
The transactions, which took place on March 7, 2025, were part of Keane’s indirect ownership holdings. Following these sales, Keane’s direct ownership stands at 6,346 shares of common stock. The sales were conducted through entities associated with Keane, including Boston & Saranac LLC and a family trust.
Astronics Corp, based in East Aurora, NY, is known for its manufacturing of aircraft parts and auxiliary equipment. The company’s shares are traded on the NASDAQ under the ticker symbol ATRO. With a market capitalization of $870 million and a current ratio of 2.73, the company maintains strong liquidity. According to InvestingPro, which offers comprehensive analysis of over 1,400 US stocks, Astronics shows promising growth potential with analysts expecting profitability this year.
In other recent news, Astronics Corporation reported its fourth-quarter 2024 earnings, significantly exceeding analyst expectations. The company posted an EPS of $0.48, outperforming the projected $0.26, while revenue reached $208.5 million, surpassing the anticipated $194.91 million. Full-year sales increased by 15.4% to $795 million, driven by strong demand in the aerospace segment, which recorded record sales of $188.5 million in the fourth quarter. Astronics also reported a decrease in net debt by $18 million from the prior quarter, indicating improved financial health.
Looking ahead, Astronics anticipates 2025 sales to be between $820 million and $860 million, with first-quarter sales projected at $190 million to $205 million. The company expects a sales ramp-up in the second half of 2025, potentially benefiting from increased Boeing (NYSE:BA) production rates. Additionally, the company plans capital expenditures of $35 million to $40 million in 2025 for facility consolidation and expansion. In other developments, Astronics has been involved in a lengthy patent infringement case in the UK, where a recent ruling required the company to pay $11.8 million in damages, a favorable outcome compared to potential claims. The company continues to focus on mitigating risks such as supply chain disruptions and macroeconomic pressures.
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