Fifth Third Wealth Advisors LLC Takes $290,000 Position in AeroVironment, Inc. $AVAV

Fifth Third Wealth Advisors LLC acquired a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,019 shares of the aerospace company’s stock, valued at approximately $290,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alyeska Investment Group L.P. raised its position in shares of AeroVironment by 48.2% during the first quarter. Alyeska Investment Group L.P. now owns 902,814 shares of the aerospace company’s stock valued at $107,606,000 after buying an additional 293,553 shares during the last quarter. Stephens Investment Management Group LLC raised its position in shares of AeroVironment by 41.0% during the first quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company’s stock valued at $91,000,000 after buying an additional 221,948 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AeroVironment by 7.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 456,486 shares of the aerospace company’s stock valued at $54,409,000 after buying an additional 33,169 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of AeroVironment by 281.6% during the first quarter. Ameriprise Financial Inc. now owns 430,307 shares of the aerospace company’s stock valued at $51,288,000 after buying an additional 317,530 shares during the last quarter. Finally, ARK Investment Management LLC raised its position in shares of AeroVironment by 6.7% during the first quarter. ARK Investment Management LLC now owns 281,323 shares of the aerospace company’s stock valued at $33,531,000 after buying an additional 17,696 shares during the last quarter. Institutional investors own 86.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVAV. Royal Bank Of Canada raised their target price on shares of AeroVironment from $300.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, September 25th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of AeroVironment in a report on Wednesday, September 10th. New Street Research set a $365.00 target price on shares of AeroVironment in a report on Wednesday, October 1st. Stifel Nicolaus raised their target price on shares of AeroVironment from $295.00 to $389.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Bank of America began coverage on shares of AeroVironment in a report on Thursday, September 18th. They issued a “buy” rating and a $300.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, AeroVironment currently has a consensus rating of “Buy” and a consensus price target of $356.07.

Insider Buying and Selling at AeroVironment

In other AeroVironment news, insider Trace E. Stevenson sold 1,717 shares of AeroVironment stock in a transaction on Monday, October 6th. The shares were sold at an average price of $381.00, for a total transaction of $654,177.00. Following the completion of the transaction, the insider directly owned 4,907 shares of the company’s stock, valued at $1,869,567. The trade was a 25.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Wahid Nawabi sold 17,300 shares of AeroVironment stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the transaction, the chief executive officer directly owned 122,233 shares of the company’s stock, valued at $32,153,390.65. The trade was a 12.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

AeroVironment Stock Up 4.5%

NASDAQ AVAV opened at $409.83 on Tuesday. The company has a quick ratio of 5.12, a current ratio of 5.96 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $280.18 and a two-hundred day moving average of $223.06. The firm has a market capitalization of $20.46 billion, a price-to-earnings ratio of -640.35, a PEG ratio of 6.65 and a beta of 0.99. AeroVironment, Inc. has a 52 week low of $102.25 and a 52 week high of $417.86.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Monday, August 28th. The aerospace company reported $0.12 EPS for the quarter. The company had revenue of $132.62 million during the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. On average, analysts predict that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

AeroVironment 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.