AeroVironment, Inc. $AVAV Stake Lowered by Connors Investor Services Inc.

Key Points

• Connors Investor Services Inc. reduced its stake in AeroVironment, Inc. by 36.3%, owning 9,495 shares worth approximately $2.7 million after selling 5,419 shares in the second quarter.
• Insider trading activity includes Trace E. Stevenson selling 1,717 shares for about $654,177, representing a 25.92% decrease in ownership, while CFO Kevin Patrick Mcdonnell sold 998 shares valued at around $398,941.
• AeroVironment has a majority institutional ownership of 86.38%, and recent analyst reports suggest a consensus rating of "Buy" with an average target price of $356.07.

Connors Investor Services Inc. cut its holdings in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 36.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,495 shares of the aerospace company's stock after selling 5,419 shares during the period. Connors Investor Services Inc.'s holdings in AeroVironment were worth $2,706,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in AeroVironment by 21.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 237 shares of the aerospace company's stock worth $68,000 after purchasing an additional 42 shares in the last quarter. ORG Partners LLC boosted its holdings in AeroVironment by 296.0% in the second quarter. ORG Partners LLC now owns 99 shares of the aerospace company's stock worth $27,000 after purchasing an additional 74 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in AeroVironment by 2.7% in the first quarter. Kestra Private Wealth Services LLC now owns 3,199 shares of the aerospace company's stock worth $381,000 after purchasing an additional 83 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in AeroVironment by 5.2% in the first quarter. Mackenzie Financial Corp now owns 1,685 shares of the aerospace company's stock worth $201,000 after purchasing an additional 84 shares in the last quarter. Finally, RMG Wealth Management LLC bought a new stake in AeroVironment in the second quarter worth $28,000. 86.38% of the stock is currently owned by institutional investors.

Insider Activity at AeroVironment

In other news, insider Trace E. Stevenson sold 1,717 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $381.00, for a total transaction of $654,177.00. Following the sale, the insider directly owned 4,907 shares of the company's stock, valued at $1,869,567. This represents a 25.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Patrick Mcdonnell sold 998 shares of the firm's stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $399.74, for a total transaction of $398,940.52. Following the completion of the transaction, the chief financial officer directly owned 19,324 shares in the company, valued at approximately $7,724,575.76. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AVAV has been the subject of a number of recent research reports. Stifel Nicolaus upped their price objective on shares of AeroVironment from $295.00 to $389.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. JMP Securities upped their price objective on shares of AeroVironment from $325.00 to $400.00 and gave the stock a "market outperform" rating in a report on Friday, October 3rd. Wedbush upgraded shares of AeroVironment to an "outperform" rating in a report on Wednesday, June 25th. KeyCorp initiated coverage on shares of AeroVironment in a report on Sunday, June 29th. They set an "overweight" rating for the company. Finally, Oppenheimer restated an "outperform" rating on shares of AeroVironment in a report on Sunday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, AeroVironment currently has a consensus rating of "Buy" and an average target price of $356.07.

AeroVironment Price Performance

Shares of AeroVironment stock opened at $355.18 on Thursday. The company has a current ratio of 5.96, a quick ratio of 5.12 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $17.73 billion, a price-to-earnings ratio of -554.96, a P/E/G ratio of 6.40 and a beta of 0.99. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $417.86. The firm's 50-day moving average price is $296.64 and its two-hundred day moving average price is $233.85.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its quarterly earnings data on Monday, August 28th. The aerospace company reported $0.12 earnings per share for the quarter. The firm had revenue of $132.62 million for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. On average, equities analysts predict that AeroVironment, Inc. will post 3.38 earnings per share 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.

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