Connors Investor Services Inc. Lowers Position in AeroVironment, Inc. (NASDAQ:AVAV)

Connors Investor Services Inc. trimmed its position in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 3.7% during the second quarter, Holdings Channel.com reports. The fund owned 10,754 shares of the aerospace company’s stock after selling 413 shares during the quarter. Connors Investor Services Inc.’s holdings in AeroVironment were worth $1,959,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AVAV. Commonwealth Equity Services LLC lifted its holdings in AeroVironment by 1.5% during the second quarter. Commonwealth Equity Services LLC now owns 4,609 shares of the aerospace company’s stock worth $840,000 after acquiring an additional 66 shares during the period. Corient Private Wealth LLC boosted its holdings in AeroVironment by 1.7% in the 4th quarter. Corient Private Wealth LLC now owns 4,882 shares of the aerospace company’s stock worth $615,000 after buying an additional 80 shares during the period. Avantax Advisory Services Inc. lifted its holdings in AeroVironment by 2.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,813 shares of the aerospace company’s stock worth $481,000 after purchasing an additional 95 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of AeroVironment by 0.6% during the first quarter. New York State Teachers Retirement System now owns 17,667 shares of the aerospace company’s stock valued at $2,708,000 after buying an additional 100 shares during the period. Finally, North Star Investment Management Corp. grew its stake in AeroVironment by 8.8% during the first quarter. North Star Investment Management Corp. now owns 1,268 shares of the aerospace company’s stock valued at $194,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 86.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AVAV shares. Robert W. Baird upgraded AeroVironment from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $161.00 to $220.00 in a research report on Wednesday, August 28th. Baird R W raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 28th. Alembic Global Advisors raised AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price objective on the stock in a research note on Wednesday, August 28th. Royal Bank of Canada lowered their price objective on AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Finally, Raymond James lowered AeroVironment from an “outperform” rating to a “market perform” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.20.

Insider Transactions at AeroVironment

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 511 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $178.45, for a total transaction of $91,187.95. Following the completion of the transaction, the chief financial officer now owns 21,334 shares of the company’s stock, valued at approximately $3,807,052.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AeroVironment news, CEO Wahid Nawabi sold 9,867 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $169.23, for a total transaction of $1,669,792.41. Following the sale, the chief executive officer now directly owns 99,892 shares of the company’s stock, valued at $16,904,723.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Patrick Mcdonnell sold 511 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $178.45, for a total value of $91,187.95. Following the completion of the sale, the chief financial officer now directly owns 21,334 shares of the company’s stock, valued at $3,807,052.30. The disclosure for this sale can be found here. Insiders sold a total of 11,287 shares of company stock valued at $1,928,305 over the last 90 days. Company insiders own 1.40% of the company’s stock.

AeroVironment Price Performance

Shares of AeroVironment stock opened at $173.52 on Tuesday. The stock’s fifty day moving average is $179.37 and its 200 day moving average is $175.89. AeroVironment, Inc. has a one year low of $104.67 and a one year high of $224.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.04 and a current ratio of 4.26. The stock has a market cap of $4.88 billion, a P/E ratio of 78.16 and a beta of 0.50.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.28. The company had revenue of $189.48 million during the quarter, compared to the consensus estimate of $183.18 million. AeroVironment had a return on equity of 9.87% and a net margin of 7.82%. The firm’s revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 EPS. Sell-side analysts anticipate that AeroVironment, Inc. will post 3.4 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.