Alps Advisors Inc. boosted its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 9.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,643 shares of the aerospace company’s stock after purchasing an additional 868 shares during the period. Alps Advisors Inc.’s holdings in AeroVironment were worth $655,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in AeroVironment by 12.9% during the 4th quarter. Bank of Montreal Can now owns 1,350 shares of the aerospace company’s stock valued at $91,000 after purchasing an additional 154 shares in the last quarter. Teachers Advisors LLC increased its holdings in AeroVironment by 0.5% during the 3rd quarter. Teachers Advisors LLC now owns 40,825 shares of the aerospace company’s stock valued at $4,579,000 after purchasing an additional 194 shares in the last quarter. IMS Capital Management acquired a new stake in AeroVironment during the 3rd quarter valued at $25,000. LS Investment Advisors LLC increased its holdings in AeroVironment by 15.9% during the 4th quarter. LS Investment Advisors LLC now owns 2,059 shares of the aerospace company’s stock valued at $140,000 after purchasing an additional 282 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in AeroVironment by 24.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,496 shares of the aerospace company’s stock valued at $102,000 after purchasing an additional 296 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.
In other AeroVironment news, Chairman Timothy E. Conver sold 10,350 shares of the stock in a transaction on Wednesday, January 23rd. The stock was sold at an average price of $73.18, for a total value of $757,413.00. Following the transaction, the chairman now directly owns 55,659 shares in the company, valued at approximately $4,073,125.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Timothy E. Conver sold 20,700 shares of the firm’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $76.43, for a total value of $1,582,101.00. Following the completion of the transaction, the chairman now owns 55,659 shares in the company, valued at $4,254,017.37. The disclosure for this sale can be found here. Insiders sold a total of 51,750 shares of company stock worth $3,844,611 over the last quarter. Corporate insiders own 11.70% of the company’s stock.
AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Thursday, November 29th. The aerospace company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.13. The firm had revenue of $72.98 million for the quarter, compared to analyst estimates of $74.54 million. AeroVironment had a return on equity of 10.37% and a net margin of 15.31%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.29 EPS. On average, equities research analysts predict that AeroVironment, Inc. will post 1.22 earnings per share for the current fiscal year.
A number of research firms recently weighed in on AVAV. Zacks Investment Research cut AeroVironment from a “buy” rating to a “hold” rating in a report on Monday, February 4th. ValuEngine upgraded AeroVironment from a “hold” rating to a “buy” rating in a research report on Saturday, December 15th. BidaskClub lowered AeroVironment from a “buy” rating to a “hold” rating in a research report on Tuesday, December 4th. William Blair initiated coverage on AeroVironment in a research report on Thursday, January 24th. They issued an “outperform” rating and a $73.60 price objective on the stock. Finally, Drexel Hamilton reiterated a “hold” rating on shares of AeroVironment in a research report on Friday, November 30th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $76.60.
AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.
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