Folger Nolan Fleming Douglas Capital Management Inc. Buys Shares of 1,000 AeroVironment, Inc. $AVAV

Folger Nolan Fleming Douglas Capital Management Inc. bought a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,000 shares of the aerospace company’s stock, valued at approximately $285,000.

Several other large investors also recently added to or reduced their stakes in AVAV. Ameriprise Financial Inc. raised its stake in AeroVironment by 281.6% during the 1st quarter. Ameriprise Financial Inc. now owns 430,307 shares of the aerospace company’s stock valued at $51,288,000 after purchasing an additional 317,530 shares during the period. Alyeska Investment Group L.P. raised its stake in AeroVironment by 48.2% during the 1st quarter. Alyeska Investment Group L.P. now owns 902,814 shares of the aerospace company’s stock valued at $107,606,000 after purchasing an additional 293,553 shares during the period. Stephens Investment Management Group LLC increased its stake in shares of AeroVironment by 41.0% in the first quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company’s stock worth $91,000,000 after acquiring an additional 221,948 shares during the last quarter. Nuveen LLC acquired a new position in shares of AeroVironment in the first quarter worth $23,501,000. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of AeroVironment in the first quarter worth $16,802,000. 86.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of AeroVironment from $300.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Raymond James Financial upped their price target on shares of AeroVironment from $300.00 to $348.00 and gave the stock a “strong-buy” rating in a research note on Monday, September 29th. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research note on Tuesday, September 16th. KeyCorp started coverage on shares of AeroVironment in a report on Sunday, June 29th. They issued an “overweight” rating for the company. Finally, Wall Street Zen upgraded shares of AeroVironment from a “sell” rating to a “hold” rating in a report on Sunday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $356.07.

AeroVironment Stock Performance

NASDAQ AVAV opened at $392.29 on Friday. The firm has a market cap of $19.59 billion, a price-to-earnings ratio of -612.94, a PEG ratio of 6.76 and a beta of 0.99. The company has a 50 day moving average of $277.35 and a 200-day moving average of $219.72. The company has a current ratio of 5.96, a quick ratio of 5.12 and a debt-to-equity ratio of 0.16. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $417.86.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Monday, August 28th. The aerospace company reported $0.12 earnings per share for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. The business had revenue of $132.62 million during the quarter. On average, equities analysts forecast that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Trace E. Stevenson sold 1,717 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $381.00, for a total value of $654,177.00. Following the completion of the transaction, the insider directly owned 4,907 shares of the company’s stock, valued at approximately $1,869,567. This represents a 25.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Wahid Nawabi sold 17,300 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the completion of the transaction, the chief executive officer directly owned 122,233 shares of the company’s stock, valued at approximately $32,153,390.65. The trade was a 12.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

AeroVironment Company 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.