Tower View Wealth Management LLC Raises Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Tower View Wealth Management LLC increased its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 20.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,476 shares of the aerospace company’s stock after purchasing an additional 3,009 shares during the period. Tower View Wealth Management LLC owned 0.06% of AeroVironment worth $2,689,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AVAV. Modus Advisors LLC purchased a new stake in AeroVironment during the 4th quarter worth about $31,000. Golden State Wealth Management LLC purchased a new stake in AeroVironment during the 4th quarter worth about $31,000. Wilmington Savings Fund Society FSB lifted its holdings in AeroVironment by 1,515.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 197 shares in the last quarter. Bogart Wealth LLC purchased a new stake in AeroVironment during the 4th quarter worth about $38,000. Finally, Blue Trust Inc. lifted its holdings in AeroVironment by 2,950.0% during the 4th quarter. Blue Trust Inc. now owns 305 shares of the aerospace company’s stock worth $47,000 after purchasing an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Price Performance

Shares of AeroVironment stock opened at $149.62 on Friday. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $4.22 billion, a PE ratio of 85.99 and a beta of 0.52. The business’s 50-day moving average price is $165.63 and its 200-day moving average price is $185.01. AeroVironment, Inc. has a 12 month low of $129.59 and a 12 month high of $236.60.

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

Insider Activity

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $198.73, for a total transaction of $78,697.08. Following the transaction, the chief financial officer now directly owns 16,472 shares in the company, valued at $3,273,480.56. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on AVAV shares. Jefferies Financial Group raised AeroVironment from a “hold” rating to a “buy” rating and lowered their price target for the company from $240.00 to $230.00 in a report on Wednesday, November 20th. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $225.20.

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.