Connective Portfolio Management LLC Purchases Shares of 3,200 AeroVironment, Inc. (NASDAQ:AVAV)

Connective Portfolio Management LLC purchased a new stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,200 shares of the aerospace company's stock, valued at approximately $492,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Security National Bank acquired a new stake in shares of AeroVironment in the 3rd quarter valued at about $31,000. Modus Advisors LLC acquired a new stake in shares of AeroVironment in the fourth quarter valued at approximately $31,000. Canada Pension Plan Investment Board purchased a new position in shares of AeroVironment during the second quarter worth approximately $36,000. Truvestments Capital LLC acquired a new position in shares of AeroVironment in the 3rd quarter valued at $62,000. Finally, Avior Wealth Management LLC raised its position in AeroVironment by 51.0% in the 3rd quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company's stock valued at $79,000 after purchasing an additional 133 shares during the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Kevin Patrick Mcdonnell sold 508 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $216.65, for a total value of $110,058.20. Following the sale, the chief financial officer now directly owns 16,868 shares in the company, valued at $3,654,452.20. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.27% of the company's stock.

Analysts Set New Price Targets

AVAV has been the topic of a number of recent research reports. William Blair restated an "outperform" rating on shares of AeroVironment in a research note on Thursday, December 5th. Jefferies Financial Group raised AeroVironment from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $240.00 to $230.00 in a research report on Wednesday, November 20th. 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 company's stock. Based on data from MarketBeat, AeroVironment currently has a consensus rating of "Buy" and an average target price of $225.20.

AeroVironment Stock Performance

NASDAQ AVAV traded down $2.35 on Thursday, hitting $165.19. 187,026 shares of the company's stock were exchanged, compared to its average volume of 323,407. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. The firm's 50-day moving average price is $177.65 and its two-hundred day moving average price is $185.75. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 94.83 and a beta of 0.50. AeroVironment, Inc. has a fifty-two week low of $119.46 and a fifty-two week high of $236.60.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its quarterly earnings data on Wednesday, December 4th. The aerospace company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.29). The company had revenue of $188.46 million during the quarter, compared to analyst estimates of $181.80 million. AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $0.97 EPS. On average, research analysts expect that AeroVironment, Inc. will post 3.38 EPS for the current 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.