Truvestments Capital LLC Buys Shares of 311 AeroVironment, Inc. (NASDAQ:AVAV)

Truvestments Capital LLC purchased a new position in AeroVironment, Inc. (NASDAQ:AVAV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 311 shares of the aerospace company’s stock, valued at approximately $62,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Independent Advisor Alliance bought a new position in AeroVironment in the third quarter worth about $212,000. MGB Wealth Management LLC purchased a new position in shares of AeroVironment in the 3rd quarter worth approximately $206,000. Penserra Capital Management LLC grew its position in shares of AeroVironment by 87.1% in the 3rd quarter. Penserra Capital Management LLC now owns 8,580 shares of the aerospace company’s stock worth $1,720,000 after buying an additional 3,995 shares during the last quarter. Cerity Partners LLC raised its stake in shares of AeroVironment by 28.5% during the 3rd quarter. Cerity Partners LLC now owns 2,225 shares of the aerospace company’s stock worth $446,000 after acquiring an additional 494 shares in the last quarter. Finally, Citigroup Inc. lifted its position in AeroVironment by 25.9% during the third quarter. Citigroup Inc. now owns 72,232 shares of the aerospace company’s stock valued at $14,483,000 after acquiring an additional 14,874 shares during the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AVAV shares. Baird R W raised AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Robert W. Baird raised AeroVironment from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $161.00 to $220.00 in a research report on Wednesday, August 28th. Royal Bank of Canada lowered their price objective on AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Raymond James downgraded shares of AeroVironment from an “outperform” rating to a “market perform” rating in a report on Monday, September 16th. Finally, BTIG Research restated a “buy” rating and set a $245.00 price objective on shares of AeroVironment in a report on Tuesday, September 17th. One investment 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $211.83.

Insider Buying and Selling

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $196.22, for a total value of $77,703.12. Following the transaction, the chief financial officer now owns 18,254 shares in the company, valued at approximately $3,581,799.88. This represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 1,782 shares of company stock worth $372,615. 1.27% of the stock is owned by company insiders.

AeroVironment Stock Performance

AVAV opened at $190.87 on Thursday. AeroVironment, Inc. has a 52-week low of $116.51 and a 52-week high of $236.60. The firm’s 50-day moving average price is $208.11 and its 200-day moving average price is $194.27. The company has a quick ratio of 3.04, a current ratio of 4.26 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.38 billion, a P/E ratio of 89.61 and a beta of 0.49.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.28. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The company had revenue of $189.48 million for the quarter, compared to the consensus estimate of $183.18 million. During the same quarter in the prior year, the company earned $1.00 EPS. AeroVironment’s quarterly revenue was up 24.4% on a year-over-year basis. As a group, equities analysts anticipate that AeroVironment, Inc. will post 3.36 EPS for the current fiscal year.

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.