Folger Nolan Fleming Douglas Capital Management Inc. Purchases New Shares in AeroVironment, Inc. (NASDAQ:AVAV)

Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,000 shares of the aerospace company’s stock, valued at approximately $200,000.

A number of other hedge funds have also recently added to or reduced their stakes in AVAV. Security National Bank acquired a new position in shares of AeroVironment during the third quarter worth approximately $31,000. Canada Pension Plan Investment Board acquired a new position in AeroVironment during the 2nd quarter worth $36,000. NBC Securities Inc. boosted its position in AeroVironment by 47.4% in the 3rd quarter. NBC Securities Inc. now owns 432 shares of the aerospace company’s stock valued at $86,000 after buying an additional 139 shares during the last quarter. DT Investment Partners LLC acquired a new stake in shares of AeroVironment in the 2nd quarter valued at $95,000. Finally, GAMMA Investing LLC raised its position in shares of AeroVironment by 32.2% during the third quarter. GAMMA Investing LLC now owns 603 shares of the aerospace company’s stock worth $121,000 after acquiring an additional 147 shares during the last quarter. Institutional investors own 86.38% of the company’s stock.

AeroVironment Trading Down 1.9 %

Shares of NASDAQ AVAV opened at $216.60 on Thursday. 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, Inc. has a twelve month low of $112.67 and a twelve month high of $227.18. The company’s fifty day moving average is $199.55 and its 200-day moving average is $187.81. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 101.69 and a beta of 0.50.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.28. AeroVironment had a return on equity of 9.87% and a net margin of 7.82%. The firm had revenue of $189.48 million during the quarter, compared to analysts’ expectations of $183.18 million. During the same period in the previous year, the firm earned $1.00 earnings per share. The company’s revenue was up 24.4% on a year-over-year basis. Equities research analysts predict that AeroVironment, Inc. will post 3.36 EPS for the current year.

Insider Transactions at AeroVironment

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 396 shares of AeroVironment stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $196.22, for a total value of $77,703.12. Following the sale, the chief financial officer now owns 18,254 shares of the company’s stock, valued at $3,581,799.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AVAV. BTIG Research restated a “buy” rating and set a $245.00 target price on shares of AeroVironment in a research report on Tuesday, September 17th. Alembic Global Advisors raised shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price objective on the stock in a research note on Wednesday, August 28th. Royal Bank of Canada dropped their target price 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. Baird R W upgraded AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Robert W. Baird upgraded AeroVironment from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $161.00 to $220.00 in a report on Wednesday, August 28th. One 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 company. According to MarketBeat, 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.