Congress Asset Management Co. Buys 32,663 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Congress Asset Management Co. boosted its position in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,193 shares of the aerospace company’s stock after purchasing an additional 32,663 shares during the period. Congress Asset Management Co. owned about 1.18% of AeroVironment worth $51,275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Modus Advisors LLC bought a new position in shares of AeroVironment during the fourth quarter worth about $31,000. Golden State Wealth Management LLC acquired a new position in AeroVironment during the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB grew its stake in shares of AeroVironment by 1,515.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 197 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of AeroVironment during the 4th quarter worth approximately $38,000. Finally, Blue Trust Inc. raised its holdings in shares of AeroVironment by 2,950.0% in the fourth quarter. Blue Trust Inc. now owns 305 shares of the aerospace company’s stock valued at $47,000 after purchasing an additional 295 shares during the last quarter. Institutional investors and hedge funds own 86.38% of the company’s stock.

Insider Transactions at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of AeroVironment stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $198.73, for a total transaction of $78,697.08. Following the completion of the sale, the chief financial officer now owns 16,472 shares of the company’s stock, valued at approximately $3,273,480.56. The trade was a 2.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVAV. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Thursday, December 5th. Jefferies Financial Group upgraded shares of AeroVironment from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $240.00 to $230.00 in a research note on Wednesday, November 20th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $225.20.

AeroVironment Stock Performance

NASDAQ AVAV opened at $156.99 on Friday. The firm has a market capitalization of $4.43 billion, a P/E ratio of 90.22 and a beta of 0.52. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average price is $166.63 and its two-hundred day moving average price is $186.33. AeroVironment, Inc. has a 1 year low of $121.38 and a 1 year high of $236.60.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.29). The firm had revenue of $188.46 million during the quarter, compared to analyst estimates of $181.80 million. AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.97 earnings per share. As a group, research analysts anticipate that AeroVironment, Inc. will post 3.38 EPS for the current year.

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.