Norden Group LLC Buys New Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Norden Group LLC purchased a new position in shares of AeroVironment, Inc. (NASDAQ:AVAVFree Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,632 shares of the aerospace company’s stock, valued at approximately $557,000.

A number of other institutional investors also recently added to or reduced their stakes in AVAV. Corient Private Wealth LLC grew its holdings in shares of AeroVironment by 1.7% during the fourth quarter. Corient Private Wealth LLC now owns 4,882 shares of the aerospace company’s stock worth $615,000 after purchasing an additional 80 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of AeroVironment by 2.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,813 shares of the aerospace company’s stock worth $481,000 after acquiring an additional 95 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in shares of AeroVironment by 44.1% in the fourth quarter. Arcadia Investment Management Corp MI now owns 327 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 100 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of AeroVironment by 0.6% during the first quarter. New York State Teachers Retirement System now owns 17,667 shares of the aerospace company’s stock worth $2,708,000 after purchasing an additional 100 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of AeroVironment by 50.2% during the first quarter. GAMMA Investing LLC now owns 401 shares of the aerospace company’s stock valued at $61,000 after purchasing an additional 134 shares during the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

AeroVironment Stock Performance

Shares of AeroVironment stock opened at $175.45 on Thursday. The firm has a fifty day moving average of $192.60 and a two-hundred day moving average of $156.83. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.52 and a current ratio of 3.56. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 79.03 and a beta of 0.51. AeroVironment, Inc. has a 52 week low of $91.00 and a 52 week high of $224.00.

AeroVironment (NASDAQ:AVAVGet Free Report) last released its quarterly earnings data on Wednesday, June 26th. The aerospace company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.21. AeroVironment had a return on equity of 10.89% and a net margin of 8.32%. The business had revenue of $197.00 million during the quarter, compared to the consensus estimate of $188.48 million. During the same quarter in the prior year, the company posted $0.99 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts predict that AeroVironment, Inc. will post 3.41 EPS for the current year.

Insider Activity at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 511 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $178.45, for a total transaction of $91,187.95. Following the completion of the transaction, the chief financial officer now owns 21,334 shares in the company, valued at $3,807,052.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Wahid Nawabi sold 9,867 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $169.23, for a total transaction of $1,669,792.41. Following the sale, the chief executive officer now owns 99,892 shares of the company’s stock, valued at $16,904,723.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kevin Patrick Mcdonnell sold 511 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $178.45, for a total value of $91,187.95. Following the completion of the transaction, the chief financial officer now owns 21,334 shares of the company’s stock, valued at $3,807,052.30. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AVAV. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of AeroVironment in a report on Thursday, June 27th. BTIG Research initiated coverage on AeroVironment in a research note on Wednesday, June 26th. They set a “buy” rating and a $255.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.20.

Read Our Latest Report on AVAV

AeroVironment Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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