Creative Planning Cuts Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Creative Planning reduced its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,027 shares of the aerospace company’s stock after selling 50 shares during the period. Creative Planning’s holdings in AeroVironment were worth $807,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Security National Bank purchased a new position in AeroVironment in the third quarter valued at approximately $31,000. Canada Pension Plan Investment Board purchased a new position in AeroVironment in the second quarter valued at approximately $36,000. DT Investment Partners LLC purchased a new position in AeroVironment in the second quarter valued at approximately $95,000. GAMMA Investing LLC raised its holdings in AeroVironment by 32.2% in the third quarter. GAMMA Investing LLC now owns 603 shares of the aerospace company’s stock valued at $121,000 after buying an additional 147 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in AeroVironment by 42.4% in the second quarter. Nisa Investment Advisors LLC now owns 752 shares of the aerospace company’s stock valued at $137,000 after buying an additional 224 shares during the period. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Kevin Patrick Mcdonnell sold 878 shares of the firm’s stock in a transaction on 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 $3,658,343.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVAV has been the subject of several recent research reports. Alembic Global Advisors raised shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price objective for the company in a research report on Wednesday, August 28th. Raymond James downgraded shares of AeroVironment from an “outperform” rating to a “market perform” rating in a research report on Monday, September 16th. Baird R W raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Robert W. Baird raised shares of AeroVironment from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $161.00 to $220.00 in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada lowered their price objective on shares of AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AeroVironment has an average rating of “Buy” and a consensus price target of $208.20.

AeroVironment Stock Up 0.5 %

AVAV stock opened at $216.00 on Friday. AeroVironment, Inc. has a twelve month low of $116.51 and a twelve month high of $227.18. The company has a current ratio of 4.26, a quick ratio of 3.04 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $6.09 billion, a P/E ratio of 101.41 and a beta of 0.49. The firm has a 50 day simple moving average of $200.78 and a 200-day simple moving average of $188.49.

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, topping analysts’ consensus estimates of $0.61 by $0.28. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The business had revenue of $189.48 million during the quarter, compared to the consensus estimate of $183.18 million. During the same quarter last year, the company earned $1.00 earnings per share. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts predict that AeroVironment, Inc. will post 3.36 earnings per share for the current fiscal year.

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.