Trek Financial LLC Invests $2.78 Million in AeroVironment, Inc. $AVAV

Trek Financial LLC bought a new stake in AeroVironment, Inc. (NASDAQ:AVAV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,753 shares of the aerospace company’s stock, valued at approximately $2,779,000.

A number of other institutional investors have also added to or reduced their stakes in AVAV. ORG Partners LLC raised its holdings in AeroVironment by 296.0% in the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 74 shares in the last quarter. RMG Wealth Management LLC acquired a new stake in shares of AeroVironment during the 2nd quarter worth approximately $28,000. Bessemer Group Inc. increased its position in shares of AeroVironment by 60.3% during the second quarter. Bessemer Group Inc. now owns 117 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 44 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of AeroVironment during the second quarter valued at approximately $46,000. Finally, MAI Capital Management raised its stake in shares of AeroVironment by 143.8% in the second quarter. MAI Capital Management now owns 195 shares of the aerospace company’s stock valued at $56,000 after purchasing an additional 115 shares in the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AeroVironment

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

Wall Street Analyst Weigh In

AVAV has been the topic of a number of recent research reports. JMP Securities lifted their price target on shares of AeroVironment from $325.00 to $400.00 and gave the stock a “market outperform” rating in a research note on Friday, October 3rd. Canaccord Genuity Group raised their price objective on shares of AeroVironment from $305.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Raymond James Financial upped their target price on shares of AeroVironment from $300.00 to $348.00 and gave the company a “strong-buy” rating in a research note on Monday, September 29th. Robert W. Baird increased their price target on shares of AeroVironment from $267.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, New Street Research set a $365.00 price target on shares of AeroVironment in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $358.19.

AeroVironment Price Performance

Shares of AeroVironment stock opened at $271.78 on Thursday. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of -424.65, a P/E/G ratio of 3.65 and a beta of 1.13. The firm’s 50-day moving average price is $336.47 and its two-hundred day moving average price is $270.17. 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, Inc. has a 1-year low of $102.25 and a 1-year high of $417.86.

AeroVironment (NASDAQ:AVAV) last announced its earnings results on Monday, August 28th. The aerospace company reported $0.12 EPS 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. On average, equities analysts predict that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

AeroVironment Company Profile

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.