Pittenger & Anderson Inc. Makes New $640,000 Investment in AeroVironment, Inc. (NASDAQ:AVAV)

Pittenger & Anderson Inc. purchased a new stake in AeroVironment, Inc. (NASDAQ:AVAV) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,190 shares of the aerospace company’s stock, valued at approximately $640,000.

Several other institutional investors and hedge funds also recently modified their holdings of AVAV. Vanguard Group Inc. grew its position in AeroVironment by 6.2% in the first quarter. Vanguard Group Inc. now owns 3,094,831 shares of the aerospace company’s stock valued at $474,376,000 after purchasing an additional 179,395 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of AeroVironment by 132.7% in the 2nd quarter. Baillie Gifford & Co. now owns 1,511,676 shares of the aerospace company’s stock valued at $275,367,000 after acquiring an additional 861,962 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of AeroVironment by 19,950.0% in the 3rd quarter. International Assets Investment Management LLC now owns 267,066 shares of the aerospace company’s stock valued at $53,547,000 after acquiring an additional 265,734 shares in the last quarter. Emerald Advisers LLC increased its position in shares of AeroVironment by 10.2% in the third quarter. Emerald Advisers LLC now owns 217,666 shares of the aerospace company’s stock valued at $43,642,000 after acquiring an additional 20,207 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in AeroVironment by 14.2% during the third quarter. Pinnacle Associates Ltd. now owns 165,645 shares of the aerospace company’s stock worth $33,212,000 after acquiring an additional 20,545 shares in the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AeroVironment

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 508 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $216.65, for a total value of $110,058.20. Following the completion of the sale, the chief financial officer now directly owns 16,868 shares of the company’s stock, valued at approximately $3,654,452.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 1,782 shares of company stock valued at $372,615 over the last three months. Corporate insiders own 1.27% of the company’s stock.

AeroVironment Trading Up 1.9 %

Shares of AeroVironment stock opened at $219.67 on Wednesday. The firm’s 50 day moving average is $201.54 and its 200 day moving average is $189.54. The firm has a market capitalization of $6.20 billion, a PE ratio of 103.13 and a beta of 0.49. AeroVironment, Inc. has a 1 year low of $116.51 and a 1 year high of $227.18. The company has a current ratio of 4.26, a quick ratio of 3.04 and a debt-to-equity ratio of 0.01.

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

Analysts Set New Price Targets

A number of research firms have weighed in on AVAV. Royal Bank of Canada decreased their price target on AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Robert W. Baird raised shares of AeroVironment from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $161.00 to $220.00 in a research report on Wednesday, August 28th. Baird R W raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. BTIG Research reaffirmed a “buy” rating and issued a $245.00 target price 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 target price for the company in a research note on Wednesday, August 28th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $208.20.

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.