The Manufacturers Life Insurance Company cut its stake in AeroVironment, Inc. (NASDAQ:AVAV – Free Report) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,212 shares of the aerospace company’s stock after selling 546 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.05% of AeroVironment worth $3,050,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in AVAV. Security National Bank bought a new position in AeroVironment in the 3rd quarter worth about $31,000. Canada Pension Plan Investment Board bought a new position in shares of AeroVironment in the second quarter valued at approximately $36,000. Truvestments Capital LLC bought a new position in shares of AeroVironment in the third quarter valued at approximately $62,000. Avior Wealth Management LLC grew its stake in AeroVironment by 51.0% during the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock valued at $79,000 after acquiring an additional 133 shares in the last quarter. Finally, Arcadia Investment Management Corp MI increased its holdings in AeroVironment by 23.1% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock worth $80,000 after acquiring an additional 75 shares during the period. 86.38% of the stock is currently owned by hedge funds and other institutional investors.
AeroVironment Price Performance
Shares of AeroVironment stock opened at $163.33 on Friday. AeroVironment, Inc. has a 12 month low of $116.51 and a 12 month high of $236.60. The company has a current ratio of 4.26, a quick ratio of 3.04 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $207.48 and its 200-day moving average price is $193.92. The firm has a market capitalization of $4.61 billion, a PE ratio of 93.87 and a beta of 0.45.
Wall Street Analyst Weigh In
AVAV has been the subject of several analyst reports. Raymond James downgraded shares of AeroVironment from an “outperform” rating to a “market perform” rating in a report on Monday, September 16th. Jefferies Financial Group upgraded 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 research report on Wednesday, November 20th. Robert W. Baird upgraded AeroVironment from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $161.00 to $220.00 in a research report on Wednesday, August 28th. William Blair reissued an “outperform” rating on shares of AeroVironment in a report on Thursday. Finally, Baird R W raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AeroVironment currently has an average rating of “Buy” and an average target price of $225.20.
Check Out Our Latest Research Report on AVAV
Insiders Place Their Bets
In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $198.73, for a total value of $78,697.08. Following the transaction, the chief financial officer now directly owns 16,472 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 1,782 shares of company stock valued at $373,609. Insiders own 1.27% of the company’s stock.
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.
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