Smith Group Asset Management LLC Invests $769,000 in AeroVironment, Inc. (NASDAQ:AVAV)

Smith Group Asset Management LLC bought a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,000 shares of the aerospace company's stock, valued at approximately $769,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Security National Bank bought a new position in AeroVironment during the third quarter valued at about $31,000. Modus Advisors LLC acquired a new stake in AeroVironment in the 4th quarter valued at about $31,000. Blue Trust Inc. boosted its position in shares of AeroVironment by 3,080.0% during the 4th quarter. Blue Trust Inc. now owns 318 shares of the aerospace company's stock valued at $49,000 after purchasing an additional 308 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of AeroVironment in the 3rd quarter worth approximately $62,000. Finally, Avior Wealth Management LLC raised its holdings in shares of AeroVironment by 51.0% in the 3rd quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company's stock worth $79,000 after purchasing an additional 133 shares in the last quarter. 86.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

AeroVironment Trading Up 4.8 %

NASDAQ AVAV traded up $8.17 on Friday, hitting $180.15. 399,857 shares of the stock were exchanged, compared to its average volume of 304,113. The company's 50-day moving average price is $169.42 and its two-hundred day moving average price is $185.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. AeroVironment, Inc. has a 52-week low of $119.46 and a 52-week high of $236.60. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 103.53 and a beta of 0.50.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.29). The business had revenue of $188.46 million for the quarter, compared to analysts' expectations of $181.80 million. AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. The business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. Research analysts predict that AeroVironment, Inc. will post 3.38 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of AeroVironment stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $198.73, for a total transaction of $78,697.08. Following the completion of the sale, the chief financial officer now owns 16,472 shares of the company's stock, valued at approximately $3,273,480.56. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.27% of the stock is currently owned by corporate insiders.

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.