Cornerstone Capital Inc. Purchases Shares of 1,620 AeroVironment, Inc. $AVAV

Cornerstone Capital Inc. purchased a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,620 shares of the aerospace company’s stock, valued at approximately $462,000.

A number of other hedge funds also recently modified their holdings of AVAV. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of AeroVironment by 21.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 237 shares of the aerospace company’s stock worth $68,000 after purchasing an additional 42 shares during the last quarter. Amalgamated Bank lifted its holdings in AeroVironment by 0.6% during the 2nd quarter. Amalgamated Bank now owns 8,023 shares of the aerospace company’s stock worth $2,286,000 after buying an additional 44 shares during the period. Bessemer Group Inc. grew its position in shares of AeroVironment by 60.3% in the 2nd quarter. Bessemer Group Inc. now owns 117 shares of the aerospace company’s stock valued at $33,000 after buying an additional 44 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of AeroVironment by 1.7% in the second quarter. Ameritas Investment Partners Inc. now owns 2,885 shares of the aerospace company’s stock valued at $822,000 after buying an additional 48 shares during the period. Finally, ORG Partners LLC increased its stake in shares of AeroVironment by 296.0% in the second quarter. ORG Partners LLC now owns 99 shares of the aerospace company’s stock valued at $27,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 86.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citizens Jmp began coverage on AeroVironment in a research note on Monday, August 4th. They issued a “strong-buy” rating and a $325.00 price objective on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of AeroVironment in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $300.00 price objective on shares of AeroVironment in a research report on Wednesday, September 10th. BNP Paribas raised shares of AeroVironment to a “strong-buy” rating in a research note on Tuesday, November 18th. Finally, Zacks Research cut shares of AeroVironment from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $358.19.

AeroVironment Trading Up 1.6%

AVAV opened at $276.99 on Tuesday. The company has a fifty day moving average price of $337.99 and a two-hundred day moving average price of $265.60. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $417.86. The company has a market cap of $13.83 billion, a P/E ratio of -432.79, a price-to-earnings-growth ratio of 5.37 and a beta of 1.09. 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 (NASDAQ:AVAV) last posted its quarterly earnings results on Monday, August 28th. The aerospace company reported $0.12 earnings per share for the quarter. AeroVironment had a positive return on equity of 4.67% and a negative net margin of 4.14%.The business had revenue of $132.62 million for the quarter. Analysts predict that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Insider Transactions at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 998 shares of the firm’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $399.74, for a total value of $398,940.52. Following the transaction, the chief financial officer owned 19,324 shares of the company’s stock, valued at approximately $7,724,575.76. This trade represents a 4.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Trace E. Stevenson sold 1,717 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $381.00, for a total value of $654,177.00. Following the sale, the insider directly owned 4,907 shares of the company’s stock, valued at $1,869,567. This represents a 25.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,228 shares of company stock valued at $1,223,157 over the last quarter. Corporate insiders own 0.81% of the company’s stock.

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.