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Mark Peabody, the Executive Vice President and President of Aerospace at Astronics Corp (NASDAQ:ATRO), recently sold shares of the company. According to a Form 4 filing, Peabody sold 511.12 shares of Astronics Corp at a price of $15.75 per share, totaling $8,050. This transaction took place on December 23, 2024. Since then, the stock has shown remarkable momentum, currently trading at $24.59, with a significant 20% gain in the past week alone.InvestingPro analysis indicates the stock is currently showing overbought signals, with strong returns across multiple timeframes. Subscribers can access 14 additional ProTips and comprehensive valuation metrics for smarter investment decisions.
Additionally, Peabody transferred 1,500 shares of common stock and 4,500 shares of Class B stock as gifts. These transactions were part of tax planning and did not involve any monetary exchange. Following these transactions, Peabody holds 44,450.731 shares of common stock and 183,994 shares of Class B stock directly. The company maintains a healthy liquidity position with a current ratio of 2.73, indicating strong ability to meet short-term obligations.
In other recent news, Astronics Corporation reported its fourth-quarter 2024 earnings, significantly exceeding analyst expectations. The company achieved an earnings per share (EPS) of $0.48, surpassing the forecasted $0.26, while revenue reached $208.5 million, exceeding the anticipated $194.91 million. Full-year sales increased by 15.4% to $795 million, driven by strong demand in the aerospace sector. The aerospace segment itself saw record sales of $188.5 million in the fourth quarter. Additionally, the company’s net debt decreased by $18 million from the prior quarter, reflecting improved financial health.
In terms of analyst activity, Astronics did not receive any reported upgrades or downgrades in the recent period. The company’s strong financial performance has been attributed to effective cost management and robust sales growth, particularly within the commercial transport segment. There was also significant interest in the potential upside from Boeing (NYSE:BA) production rates, which could further drive future sales growth. Astronics’ management has expressed optimism for 2025, with projected sales ranging from $820 million to $860 million. The company also anticipates a ramp-up in sales during the second half of the year, bolstered by expected increases in Boeing production rates and continued demand in commercial aerospace.
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