Congress Asset Management Co. Has $60.26 Million Position in AeroVironment, Inc. (NASDAQ:AVAV)

Congress Asset Management Co. trimmed its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 14.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,530 shares of the aerospace company’s stock after selling 49,566 shares during the period. Congress Asset Management Co. owned approximately 1.07% of AeroVironment worth $60,256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in AeroVironment in the 3rd quarter worth approximately $200,000. SteelPeak Wealth LLC increased its stake in shares of AeroVironment by 1.2% in the third quarter. SteelPeak Wealth LLC now owns 12,847 shares of the aerospace company’s stock worth $2,576,000 after acquiring an additional 153 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of AeroVironment by 14.2% during the third quarter. Pinnacle Associates Ltd. now owns 165,645 shares of the aerospace company’s stock worth $33,212,000 after acquiring an additional 20,545 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in AeroVironment by 7.2% during the third quarter. First Trust Direct Indexing L.P. now owns 1,434 shares of the aerospace company’s stock valued at $288,000 after purchasing an additional 96 shares during the last quarter. Finally, Traynor Capital Management Inc. grew its stake in AeroVironment by 142.3% in the third quarter. Traynor Capital Management Inc. now owns 25,165 shares of the aerospace company’s stock valued at $5,046,000 after purchasing an additional 14,780 shares in the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $196.22, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.27% of the company’s stock.

AeroVironment Price Performance

Shares of AeroVironment stock traded down $0.63 during trading on Thursday, reaching $215.97. The company’s stock had a trading volume of 41,312 shares, compared to its average volume of 335,147. AeroVironment, Inc. has a one year low of $112.67 and a one year high of $227.18. The stock has a 50-day moving average price of $199.55 and a two-hundred day moving average price of $187.81. 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 stock has a market capitalization of $6.09 billion, a P/E ratio of 101.69 and a beta of 0.50.

AeroVironment (NASDAQ:AVAV) last announced its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 earnings per share. As a group, sell-side analysts anticipate that AeroVironment, Inc. will post 3.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Alembic Global Advisors upgraded AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price target for the company in a research note on Wednesday, August 28th. BTIG Research reissued a “buy” rating and set a $245.00 target price on shares of AeroVironment in a research report on Tuesday, September 17th. Royal Bank of Canada lowered their price target on AeroVironment from $230.00 to $215.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Baird R W raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Robert W. Baird raised AeroVironment from a “neutral” rating to an “outperform” rating and upped their price target for the company from $161.00 to $220.00 in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $208.20.

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.