AeroVironment, Inc. (NASDAQ:AVAV) Position Cut by Creative Planning

Creative Planning trimmed its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 1.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,027 shares of the aerospace company’s stock after selling 50 shares during the quarter. Creative Planning’s holdings in AeroVironment were worth $807,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC lifted its stake in AeroVironment by 4.2% in the third quarter. Exchange Traded Concepts LLC now owns 4,065 shares of the aerospace company’s stock valued at $815,000 after buying an additional 162 shares during the last quarter. Ritholtz Wealth Management bought a new stake in AeroVironment in the third quarter valued at $248,000. MADDEN SECURITIES Corp lifted its stake in AeroVironment by 1.5% in the third quarter. MADDEN SECURITIES Corp now owns 20,178 shares of the aerospace company’s stock valued at $4,046,000 after buying an additional 300 shares during the last quarter. Security National Bank bought a new stake in AeroVironment in the third quarter valued at $31,000. Finally, GAMMA Investing LLC lifted its stake in AeroVironment by 32.2% in the third quarter. GAMMA Investing LLC now owns 603 shares of the aerospace company’s stock valued at $121,000 after buying an additional 147 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVAV. Robert W. Baird upgraded shares of AeroVironment from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $161.00 to $220.00 in a research note on Wednesday, August 28th. Alembic Global Advisors upgraded shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price objective on the stock in a research note on Wednesday, August 28th. Baird R W upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 28th. BTIG Research restated a “buy” rating and set a $245.00 price objective on shares of AeroVironment in a research note on Tuesday, September 17th. Finally, Raymond James cut shares of AeroVironment from an “outperform” rating to a “market perform” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $208.20.

Insider Buying and Selling

In related news, CFO Kevin Patrick Mcdonnell sold 878 shares of AeroVironment stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $210.54, for a total transaction of $184,854.12. Following the transaction, the chief financial officer now directly owns 17,376 shares of the company’s stock, valued at $3,658,343.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.27% of the stock is owned by corporate insiders.

AeroVironment Price Performance

NASDAQ:AVAV opened at $216.00 on Friday. The business’s 50-day moving average price is $200.78 and its 200 day moving average price is $188.49. The firm has a market cap of $6.09 billion, a P/E ratio of 101.41 and a beta of 0.49. AeroVironment, Inc. has a 52-week low of $116.51 and a 52-week high of $227.18. The company has a quick ratio of 3.04, a current ratio of 4.26 and a debt-to-equity ratio of 0.01.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.28. The firm had revenue of $189.48 million for the quarter, compared to analyst estimates of $183.18 million. AeroVironment had a return on equity of 9.87% and a net margin of 7.82%. AeroVironment’s revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. As a group, sell-side analysts predict that AeroVironment, Inc. will post 3.36 earnings per share for the current fiscal year.

AeroVironment Profile

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.