Tower View Wealth Management LLC Acquires 3,009 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Tower View Wealth Management LLC increased its position in AeroVironment, Inc. (NASDAQ:AVAV) by 20.8% in the fourth quarter, HoldingsChannel reports. The firm owned 17,476 shares of the aerospace company’s stock after purchasing an additional 3,009 shares during the quarter. Tower View Wealth Management LLC’s holdings in AeroVironment were worth $2,689,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in shares of AeroVironment by 9.4% in the 4th quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company’s stock valued at $328,598,000 after purchasing an additional 183,887 shares during the period. State Street Corp lifted its stake in shares of AeroVironment by 0.5% in the 3rd quarter. State Street Corp now owns 1,582,871 shares of the aerospace company’s stock valued at $317,366,000 after purchasing an additional 7,471 shares during the period. Geode Capital Management LLC lifted its stake in shares of AeroVironment by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 634,189 shares of the aerospace company’s stock valued at $127,180,000 after purchasing an additional 4,948 shares during the period. Heard Capital LLC lifted its stake in shares of AeroVironment by 25.5% in the 3rd quarter. Heard Capital LLC now owns 592,136 shares of the aerospace company’s stock valued at $118,723,000 after purchasing an additional 120,447 shares during the period. Finally, Stephens Investment Management Group LLC lifted its stake in shares of AeroVironment by 40.0% in the 4th quarter. Stephens Investment Management Group LLC now owns 541,541 shares of the aerospace company’s stock valued at $83,338,000 after purchasing an additional 154,703 shares during the period. Hedge funds and other institutional investors own 86.38% of the company’s stock.

Insider Transactions at AeroVironment

In other news, CFO Kevin Patrick Mcdonnell sold 396 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $198.73, for a total value of $78,697.08. Following the completion of the transaction, the chief financial officer now owns 16,472 shares in the company, valued at $3,273,480.56. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.27% of the company’s stock.

AeroVironment Stock Down 1.5 %

Shares of NASDAQ:AVAV opened at $149.62 on Friday. The stock has a fifty day simple moving average of $165.63 and a two-hundred day simple moving average of $185.01. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 85.99 and a beta of 0.52. AeroVironment, Inc. has a 12-month low of $129.59 and a 12-month high of $236.60. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.29). AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The business had revenue of $188.46 million during the quarter, compared to analysts’ expectations of $181.80 million. During the same quarter in the prior year, the firm earned $0.97 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Jefferies Financial Group upgraded AeroVironment from a “hold” rating to a “buy” rating and lowered their target price for the company from $240.00 to $230.00 in a research note on Wednesday, November 20th. William Blair reiterated an “outperform” rating on shares of AeroVironment in a research note on Thursday, December 5th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $225.20.

About AeroVironment

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.