State Street Corp boosted its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,582,871 shares of the aerospace company's stock after purchasing an additional 7,471 shares during the period. State Street Corp owned approximately 5.61% of AeroVironment worth $317,366,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Security National Bank purchased a new stake in shares of AeroVironment during the third quarter valued at $31,000. Canada Pension Plan Investment Board purchased a new stake in AeroVironment during the 2nd quarter valued at about $36,000. Truvestments Capital LLC acquired a new position in shares of AeroVironment in the third quarter valued at about $62,000. Avior Wealth Management LLC raised its stake in shares of AeroVironment by 51.0% in the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company's stock worth $79,000 after purchasing an additional 133 shares during the last quarter. Finally, Arcadia Investment Management Corp MI lifted its holdings in shares of AeroVironment by 23.1% during the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company's stock worth $80,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 86.38% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. William Blair reiterated an "outperform" rating on shares of AeroVironment in a report on Thursday, December 5th. Baird R W upgraded shares of AeroVironment from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 28th. Royal Bank of Canada cut their price target on AeroVironment from $230.00 to $215.00 and set an "outperform" rating on the stock in a research report on Thursday, September 5th. Raymond James cut AeroVironment from an "outperform" rating to a "market perform" rating in a report on Monday, September 16th. Finally, Alembic Global Advisors upgraded AeroVironment from a "neutral" rating to an "overweight" rating and set a $216.00 target price on the stock in a research note on Wednesday, August 28th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $225.20.
Check Out Our Latest Report on AVAV
Insider Activity
In related news, CFO Kevin Patrick Mcdonnell sold 508 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $216.65, for a total transaction of $110,058.20. Following the completion of the sale, the chief financial officer now owns 16,868 shares of the company's stock, valued at approximately $3,654,452.20. This represents a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,782 shares of company stock worth $373,609 over the last quarter. 1.27% of the stock is currently owned by corporate insiders.
AeroVironment Price Performance
Shares of AeroVironment stock traded up $0.45 on Wednesday, hitting $154.17. The company's stock had a trading volume of 584,282 shares, compared to its average volume of 360,229. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 88.34 and a beta of 0.45. AeroVironment, Inc. has a 1 year low of $116.51 and a 1 year high of $236.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. The firm has a fifty day moving average price of $205.54 and a 200-day moving average price of $193.32.
AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its quarterly earnings data on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.29). AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. The company had revenue of $188.46 million for the quarter, compared to analysts' expectations of $181.80 million. During the same period in the previous year, the business earned $0.97 earnings per share. The business's revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts anticipate that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.
AeroVironment Profile
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Free Report)
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.
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