AeroVironment, Inc. (NASDAQ:AVAV) Shares Sold by Private Trust Co. NA

Private Trust Co. NA reduced its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 6.1% during the 4th quarter, Holdings Channel reports. The fund owned 1,150 shares of the aerospace company’s stock after selling 75 shares during the quarter. Private Trust Co. NA’s holdings in AeroVironment were worth $177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund increased its holdings in shares of AeroVironment by 17.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 18,822 shares of the aerospace company’s stock valued at $2,897,000 after purchasing an additional 2,761 shares during the period. Bank of New York Mellon Corp grew its position in AeroVironment by 25.6% in the 4th quarter. Bank of New York Mellon Corp now owns 270,496 shares of the aerospace company’s stock valued at $41,627,000 after buying an additional 55,142 shares in the last quarter. Arcadia Investment Management Corp MI increased its stake in AeroVironment by 64.3% during the 4th quarter. Arcadia Investment Management Corp MI now owns 657 shares of the aerospace company’s stock valued at $101,000 after buying an additional 257 shares during the period. Kornitzer Capital Management Inc. KS raised its position in shares of AeroVironment by 654.2% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 21,495 shares of the aerospace company’s stock worth $3,308,000 after buying an additional 18,645 shares in the last quarter. Finally, Truist Financial Corp acquired a new stake in shares of AeroVironment in the 4th quarter worth approximately $776,000. 86.38% of the stock is currently owned by institutional investors and hedge funds.

AeroVironment Trading Down 4.7 %

Shares of NASDAQ:AVAV opened at $142.63 on Tuesday. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 81.97 and a beta of 0.52. AeroVironment, Inc. has a 1-year low of $129.59 and a 1-year high of $236.60. The company has a 50 day moving average price of $165.26 and a 200 day moving average price of $184.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.29). The company had revenue of $188.46 million for the quarter, compared to the consensus estimate of $181.80 million. AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 earnings per share. On average, research analysts anticipate that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVAV. Jefferies Financial Group upgraded shares of AeroVironment from a “hold” rating to a “buy” rating and lowered their price objective for the company from $240.00 to $230.00 in a research note on Wednesday, November 20th. William Blair reiterated an “outperform” rating on shares of AeroVironment in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $225.20.

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.