MGB Wealth Management LLC Takes $206,000 Position in AeroVironment, Inc. (NASDAQ:AVAV)

MGB Wealth Management LLC acquired a new stake in AeroVironment, Inc. (NASDAQ:AVAV) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,025 shares of the aerospace company’s stock, valued at approximately $206,000.

A number of other large investors also recently modified their holdings of the company. Security National Bank bought a new stake in AeroVironment during the third quarter valued at approximately $31,000. Canada Pension Plan Investment Board bought a new stake in AeroVironment during the second quarter valued at approximately $36,000. Avior Wealth Management LLC lifted its position in AeroVironment by 51.0% during the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock valued at $79,000 after purchasing an additional 133 shares during the last quarter. Arcadia Investment Management Corp MI lifted its position in AeroVironment by 23.1% during the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock valued at $80,000 after purchasing an additional 75 shares during the last quarter. Finally, NBC Securities Inc. lifted its position in AeroVironment by 47.4% during the third quarter. NBC Securities Inc. now owns 432 shares of the aerospace company’s stock valued at $86,000 after purchasing an additional 139 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AVAV has been the subject of a number of recent research reports. BTIG Research restated a “buy” rating and issued a $245.00 price objective on shares of AeroVironment in a report on Tuesday, September 17th. 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. Jefferies Financial Group upgraded shares of AeroVironment from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $240.00 to $230.00 in a report on Wednesday. Baird R W upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Robert W. Baird upgraded shares of AeroVironment from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $161.00 to $220.00 in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AeroVironment presently has a consensus rating of “Buy” and a consensus target price of $211.83.

Insider Buying and Selling

In related news, CFO Kevin Patrick Mcdonnell sold 508 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $216.65, for a total value of $110,058.20. Following the completion of the transaction, the chief financial officer now directly owns 16,868 shares of the company’s stock, valued at approximately $3,654,452.20. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,782 shares of company stock valued at $372,615. 1.27% of the stock is owned by corporate insiders.

AeroVironment Stock Up 0.8 %

NASDAQ:AVAV opened at $195.91 on Friday. AeroVironment, Inc. has a 1-year low of $116.51 and a 1-year high of $236.60. The firm’s 50-day moving average price is $207.29 and its 200-day moving average price is $194.07. The company has a market capitalization of $5.53 billion, a PE ratio of 91.98 and a beta of 0.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.26 and a quick ratio of 3.04.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.28. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The business had revenue of $189.48 million for the quarter, compared to analysts’ expectations of $183.18 million. During the same quarter in the prior year, the business earned $1.00 EPS. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities analysts predict that AeroVironment, Inc. will post 3.36 EPS for the current fiscal year.

About AeroVironment

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.