Glenmede Trust Co. NA Invests $229,000 in AeroVironment, Inc. (NASDAQ:AVAV)

Glenmede Trust Co. NA bought a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,141 shares of the aerospace company’s stock, valued at approximately $229,000.

A number of other hedge funds have also recently bought and sold shares of the company. Security National Bank bought a new position in shares of AeroVironment during the 3rd quarter valued at about $31,000. Canada Pension Plan Investment Board bought a new stake in AeroVironment during the second quarter worth approximately $36,000. Truvestments Capital LLC acquired a new position in AeroVironment in the third quarter worth approximately $62,000. Avior Wealth Management LLC increased its holdings in shares of AeroVironment by 51.0% in the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock valued at $79,000 after buying an additional 133 shares in the last quarter. Finally, Arcadia Investment Management Corp MI lifted its position in shares of AeroVironment by 23.1% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock valued at $80,000 after acquiring an additional 75 shares during the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

AeroVironment Stock Down 15.9 %

AVAV stock opened at $165.62 on Friday. The company has a 50 day moving average of $208.78 and a two-hundred day moving average of $194.37. 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, Inc. has a 12-month low of $116.51 and a 12-month high of $236.60. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 95.18 and a beta of 0.45.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.29). AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The firm had revenue of $188.46 million for the quarter, compared to analyst estimates of $181.80 million. During the same period in the previous year, the business posted $0.97 EPS. AeroVironment’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that AeroVironment, Inc. will post 3.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Raymond James lowered AeroVironment from an “outperform” rating to a “market perform” rating in a research report on Monday, September 16th. Jefferies Financial Group upgraded AeroVironment from a “hold” rating to a “buy” rating and cut their price objective for the stock from $240.00 to $230.00 in a report on Wednesday, November 20th. Baird R W upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 28th. BTIG Research restated a “buy” rating and set a $245.00 price target on shares of AeroVironment in a report on Tuesday, September 17th. Finally, Alembic Global Advisors upgraded shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price target for the company in a research report on Wednesday, August 28th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AeroVironment presently has an average rating of “Buy” and an average price target of $211.83.

Insider Activity at AeroVironment

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 508 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $216.65, for a total transaction of $110,058.20. Following the transaction, the chief financial officer now directly owns 16,868 shares of the company’s stock, valued at $3,654,452.20. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 1,782 shares of company stock valued at $373,609. 1.27% of the stock is owned by corporate insiders.

About AeroVironment

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.