Pittenger & Anderson Inc. Acquires Shares of 3,190 AeroVironment, Inc. (NASDAQ:AVAV)

Pittenger & Anderson Inc. bought a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 3,190 shares of the aerospace company’s stock, valued at approximately $640,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Angeles Wealth Management LLC bought a new position in AeroVironment in the 3rd quarter valued at $780,000. Emerald Advisers LLC lifted its position in AeroVironment by 10.2% during the 3rd quarter. Emerald Advisers LLC now owns 217,666 shares of the aerospace company’s stock worth $43,642,000 after buying an additional 20,207 shares in the last quarter. Van ECK Associates Corp lifted its position in AeroVironment by 26.4% during the 3rd quarter. Van ECK Associates Corp now owns 142,733 shares of the aerospace company’s stock worth $30,642,000 after buying an additional 29,820 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in AeroVironment by 6.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 17,808 shares of the aerospace company’s stock worth $3,571,000 after acquiring an additional 1,047 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of AeroVironment by 3.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 163,939 shares of the aerospace company’s stock worth $32,870,000 after acquiring an additional 4,971 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.

AeroVironment Trading Up 1.9 %

NASDAQ:AVAV opened at $219.67 on Wednesday. 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, Inc. has a 1-year low of $116.51 and a 1-year high of $227.18. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 103.13 and a beta of 0.49. The business’s 50-day moving average price is $201.54 and its two-hundred day moving average price is $189.54.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.28. The business had revenue of $189.48 million for the quarter, compared to analyst estimates of $183.18 million. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. AeroVironment’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 EPS. On average, equities analysts expect that AeroVironment, Inc. will post 3.36 earnings per share for the current year.

Insider Activity at AeroVironment

In other AeroVironment 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 in the company, valued at approximately $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 SEC, which is accessible through this link. Insiders sold a total of 1,782 shares of company stock worth $372,615 in the last quarter. Corporate insiders own 1.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AVAV. Alembic Global Advisors raised shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price target on the stock in a research note on Wednesday, August 28th. Baird R W raised AeroVironment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada cut their price target on AeroVironment from $230.00 to $215.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Robert W. Baird upgraded AeroVironment from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $161.00 to $220.00 in a research report on Wednesday, August 28th. Finally, Raymond James cut AeroVironment from an “outperform” rating to a “market perform” rating in a report 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.com, the stock currently has an average rating of “Buy” and an average 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.