Angeles Wealth Management LLC Reduces Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

Angeles Wealth Management LLC trimmed its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 36.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,465 shares of the aerospace company’s stock after selling 1,427 shares during the period. Angeles Wealth Management LLC’s holdings in AeroVironment were worth $379,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AVAV. SG Americas Securities LLC raised its holdings in AeroVironment by 311.6% during the third quarter. SG Americas Securities LLC now owns 3,239 shares of the aerospace company’s stock worth $649,000 after purchasing an additional 2,452 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of AeroVironment by 32.2% in the 3rd quarter. GAMMA Investing LLC now owns 603 shares of the aerospace company’s stock worth $121,000 after buying an additional 147 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in AeroVironment in the 3rd quarter valued at about $248,000. Exchange Traded Concepts LLC increased its holdings in AeroVironment by 4.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,065 shares of the aerospace company’s stock valued at $815,000 after acquiring an additional 162 shares in the last quarter. Finally, NBC Securities Inc. raised its position in AeroVironment by 47.4% during the third quarter. NBC Securities Inc. now owns 432 shares of the aerospace company’s stock worth $86,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

AeroVironment Stock Performance

Shares of AVAV opened at $182.15 on Tuesday. AeroVironment, Inc. has a 1 year low of $121.38 and a 1 year high of $236.60. The company’s 50 day simple moving average is $167.70 and its 200 day simple moving average is $186.64. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 104.68 and a beta of 0.52. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.29). The business had revenue of $188.46 million for the quarter, compared to analysts’ expectations of $181.80 million. AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. On average, sell-side analysts predict that AeroVironment, Inc. will post 3.38 EPS for the current year.

Insiders Place Their Bets

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $198.73, for a total transaction of $78,697.08. Following the transaction, the chief financial officer now owns 16,472 shares of the company’s stock, valued at $3,273,480.56. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.27% of the stock is 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.