Kennedy Investment Group Purchases New Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Kennedy Investment Group purchased a new stake in AeroVironment, Inc. (NASDAQ:AVAV) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 1,440 shares of the aerospace company’s stock, valued at approximately $289,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in AeroVironment in the 1st quarter valued at about $26,000. Security National Bank purchased a new position in AeroVironment in the 3rd quarter valued at about $31,000. Canada Pension Plan Investment Board purchased a new position in AeroVironment in the 2nd quarter valued at about $36,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in AeroVironment in the 1st quarter valued at about $38,000. Finally, Register Financial Advisors LLC purchased a new position in AeroVironment in the 1st quarter valued at about $61,000. 86.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 878 shares of AeroVironment stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $210.54, for a total value of $184,854.12. Following the completion of the sale, the chief financial officer now owns 17,376 shares in the company, valued at approximately $3,658,343.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 1,787 shares of company stock worth $352,178. Insiders own 1.40% of the company’s stock.

AeroVironment Trading Up 2.5 %

Shares of NASDAQ AVAV traded up $5.46 during midday trading on Monday, reaching $222.43. 124,827 shares of the stock were exchanged, compared to its average volume of 341,855. The company has a 50 day simple moving average of $194.35 and a 200 day simple moving average of $183.90. The stock has a market capitalization of $6.26 billion, a P/E ratio of 97.73 and a beta of 0.50. 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, Inc. has a twelve month low of $112.28 and a twelve month high of $227.18.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.28. The business had revenue of $189.48 million during the quarter, compared to the consensus estimate of $183.18 million. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The business’s revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 EPS. As a group, equities analysts expect that AeroVironment, Inc. will post 3.36 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on AVAV shares. Royal Bank of Canada cut their price objective on shares of AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Alembic Global Advisors upgraded 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. Baird R W upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 28th. Raymond James downgraded shares of AeroVironment from an “outperform” rating to a “market perform” rating in a report on Monday, September 16th. Finally, Robert W. Baird upgraded shares of AeroVironment from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $161.00 to $220.00 in a report on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AeroVironment has an average rating of “Buy” and an average target price of $208.20.

AeroVironment Company 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.