PNC Financial Services Group Inc. Has $355,000 Stake in AeroVironment, Inc. (NASDAQ:AVAV)

PNC Financial Services Group Inc. lowered its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 4.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,815 shares of the aerospace company’s stock after selling 142 shares during the period. PNC Financial Services Group Inc.’s holdings in AeroVironment were worth $355,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AVAV. Corient Private Wealth LLC grew its holdings in shares of AeroVironment by 1.7% during the 4th quarter. Corient Private Wealth LLC now owns 4,882 shares of the aerospace company’s stock worth $615,000 after purchasing an additional 80 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in AeroVironment by 2.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,813 shares of the aerospace company’s stock valued at $481,000 after buying an additional 95 shares during the period. Arcadia Investment Management Corp MI raised its stake in shares of AeroVironment by 44.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 327 shares of the aerospace company’s stock valued at $41,000 after buying an additional 100 shares in the last quarter. RiverPark Advisors LLC lifted its holdings in shares of AeroVironment by 77.2% during the 4th quarter. RiverPark Advisors LLC now owns 388 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 169 shares during the period. Finally, Bfsg LLC acquired a new stake in shares of AeroVironment during the 4th quarter valued at about $25,000. Institutional investors own 86.38% of the company’s stock.

AeroVironment Trading Up 2.4 %

Shares of AVAV opened at $182.16 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.16 and a current ratio of 3.56. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 82.05 and a beta of 0.46. The stock has a fifty day moving average price of $190.43 and a two-hundred day moving average price of $154.38. AeroVironment, Inc. has a 52-week low of $91.00 and a 52-week high of $224.00.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Wednesday, June 26th. The aerospace company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.22. The business had revenue of $197.00 million during the quarter, compared to analysts’ expectations of $188.48 million. AeroVironment had a return on equity of 10.89% and a net margin of 8.32%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. Analysts predict that AeroVironment, Inc. will post 3.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AVAV shares. William Blair restated an “outperform” rating on shares of AeroVironment in a research note on Tuesday, March 5th. BTIG Research initiated coverage on AeroVironment in a research note on Wednesday. They issued a “buy” rating and a $255.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of AeroVironment in a research report on Thursday. Finally, Robert W. Baird reissued a “neutral” rating and set a $161.00 price objective on shares of AeroVironment in a report on Friday, March 8th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, AeroVironment presently has an average rating of “Moderate Buy” and a consensus target price of $175.20.

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.