Tower View Wealth Management LLC Acquires 7,189 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Tower View Wealth Management LLC lifted its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 98.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,467 shares of the aerospace company’s stock after acquiring an additional 7,189 shares during the period. AeroVironment makes up about 1.6% of Tower View Wealth Management LLC’s holdings, making the stock its 27th largest holding. Tower View Wealth Management LLC owned 0.05% of AeroVironment worth $2,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVAV. Consolidated Portfolio Review Corp purchased a new stake in AeroVironment in the 3rd quarter worth approximately $1,620,000. Mount Yale Investment Advisors LLC increased its holdings in shares of AeroVironment by 21.0% in the third quarter. Mount Yale Investment Advisors LLC now owns 1,658 shares of the aerospace company’s stock worth $332,000 after purchasing an additional 288 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of AeroVironment in the third quarter worth $1,524,000. International Assets Investment Management LLC boosted its stake in AeroVironment by 19,950.0% during the third quarter. International Assets Investment Management LLC now owns 267,066 shares of the aerospace company’s stock valued at $53,547,000 after buying an additional 265,734 shares during the period. Finally, Foundations Investment Advisors LLC bought a new stake in AeroVironment during the third quarter valued at $271,000. 86.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on AVAV shares. Robert W. Baird raised AeroVironment from a “neutral” rating to an “outperform” rating and raised their price target for the company from $161.00 to $220.00 in a report on Wednesday, August 28th. Baird R W upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. BTIG Research reissued a “buy” rating and issued a $245.00 price target on shares of AeroVironment in a report on Tuesday, September 17th. Alembic Global Advisors raised shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price objective for the company in a report on Wednesday, August 28th. Finally, Royal Bank of Canada lowered their price target on AeroVironment from $230.00 to $215.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $208.20.

AeroVironment Price Performance

AVAV stock opened at $219.94 on Monday. The firm has a market cap of $6.19 billion, a P/E ratio of 99.50 and a beta of 0.50. The firm’s fifty day moving average is $197.69 and its 200 day moving average is $186.58. AeroVironment, Inc. has a 52 week low of $112.28 and a 52 week high of $227.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.04 and a current ratio of 4.26.

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 firm had revenue of $189.48 million for the quarter, compared to analysts’ expectations of $183.18 million. AeroVironment had a return on equity of 9.87% and a net margin of 7.82%. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period last year, the firm earned $1.00 earnings per share. Research analysts predict that AeroVironment, Inc. will post 3.36 earnings per share for the current year.

Insider Activity

In related news, CFO Kevin Patrick Mcdonnell sold 878 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $210.54, for a total transaction of $184,854.12. Following the completion of the sale, the chief financial officer now directly owns 17,376 shares in the company, valued at $3,658,343.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 1,787 shares of company stock valued at $352,178. 1.40% of the stock is currently owned by company insiders.

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.