Nwam LLC Cuts Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Nwam LLC cut its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,449 shares of the aerospace company’s stock after selling 1,008 shares during the quarter. Nwam LLC owned approximately 0.07% of AeroVironment worth $3,699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AVAV. Security National Bank bought a new stake in shares of AeroVironment during the third quarter valued at about $31,000. Canada Pension Plan Investment Board purchased a new stake in shares of AeroVironment during the second quarter valued at approximately $36,000. Avior Wealth Management LLC lifted its stake in AeroVironment by 51.0% in the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock worth $79,000 after acquiring an additional 133 shares during the period. Arcadia Investment Management Corp MI lifted 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 worth $80,000 after acquiring an additional 75 shares during the period. Finally, NBC Securities Inc. raised its holdings in AeroVironment by 47.4% in the third quarter. NBC Securities Inc. now owns 432 shares of the aerospace company’s stock worth $86,000 after purchasing an additional 139 shares in the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.

AeroVironment Stock Up 1.4 %

Shares of NASDAQ AVAV opened at $197.07 on Friday. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 91.20 and a beta of 0.49. AeroVironment, Inc. has a 52-week low of $116.51 and a 52-week high of $236.60. The company’s 50-day simple moving average is $207.22 and its 200-day simple moving average is $193.86. 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 (NASDAQ:AVAV) last posted its 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. The company 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 revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 EPS. Equities analysts predict that AeroVironment, Inc. will post 3.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. 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 report on Wednesday, August 28th. BTIG Research reissued a “buy” rating and issued a $245.00 price objective on shares of AeroVironment in a research report on Tuesday, September 17th. Jefferies Financial Group raised shares of AeroVironment from a “hold” rating to a “buy” rating and reduced their target price for the stock from $240.00 to $230.00 in a research report on Wednesday. Baird R W upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 28th. 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 investment 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 data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $211.83.

Insider Buying and Selling

In other news, CFO Kevin Patrick Mcdonnell sold 396 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $196.22, for a total value of $77,703.12. Following the completion of the transaction, the chief financial officer now owns 18,254 shares in the company, valued at approximately $3,581,799.88. This represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,782 shares of company stock valued at $372,615 in the last ninety days. Company insiders own 1.27% of the company’s stock.

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.