Sittner & Nelson LLC Decreases Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Sittner & Nelson LLC decreased its position in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,918 shares of the aerospace company’s stock after selling 125 shares during the quarter. AeroVironment accounts for about 1.5% of Sittner & Nelson LLC’s holdings, making the stock its 12th biggest position. Sittner & Nelson LLC owned about 0.06% of AeroVironment worth $3,392,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Radnor Capital Management LLC grew its holdings in AeroVironment by 1.0% during the 3rd quarter. Radnor Capital Management LLC now owns 5,965 shares of the aerospace company’s stock valued at $1,196,000 after purchasing an additional 60 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of AeroVironment by 1.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,609 shares of the aerospace company’s stock worth $840,000 after buying an additional 66 shares during the last quarter. Arcadia Investment Management Corp MI boosted its stake in AeroVironment by 23.1% in the third 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 period. First Trust Direct Indexing L.P. boosted its position in AeroVironment by 7.2% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,434 shares of the aerospace company’s stock valued at $288,000 after purchasing an additional 96 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of AeroVironment by 7.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,920 shares of the aerospace company’s stock worth $294,000 after acquiring an additional 133 shares during the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Robert W. Baird raised AeroVironment from a “neutral” rating to an “outperform” rating and increased their price target for the company from $161.00 to $220.00 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. Royal Bank of Canada lowered 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. Alembic Global Advisors raised shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 target price on the stock in a research report on Wednesday, August 28th. 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $208.20.

AeroVironment Trading Up 3.4 %

NASDAQ:AVAV opened at $223.69 on Friday. The business’s 50-day simple moving average is $203.23 and its 200-day simple moving average is $190.45. The stock has a market capitalization of $6.31 billion, a PE ratio of 105.02 and a beta of 0.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.26 and a quick ratio of 3.04. AeroVironment, Inc. has a fifty-two week low of $116.51 and a fifty-two week high of $232.00.

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

Insider Activity

In related news, CFO Kevin Patrick Mcdonnell sold 878 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $210.54, for a total transaction of $184,854.12. Following the transaction, the chief financial officer now owns 17,376 shares in the company, valued at $3,658,343.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 1,782 shares of company stock valued at $372,615. 1.27% of the stock is currently 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.