Fifth Third Wealth Advisors LLC Acquires New Position in AeroVironment, Inc. $AVAV

Key Points

• Fifth Third Wealth Advisors LLC recently acquired a new stake in AeroVironment, Inc., purchasing 1,019 shares valued at approximately $290,000 during the 2nd quarter.
• AeroVironment has an average analyst rating of "Buy" with a consensus price target of $356.07, despite a recent downgrade by Zacks Research.
• The company's stock performance shows a twelve-month high of $417.86 and a low of $102.25, indicating significant volatility in its market value.

Fifth Third Wealth Advisors LLC acquired a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,019 shares of the aerospace company's stock, valued at approximately $290,000.

Several other institutional investors also recently bought and sold shares of the company. ORG Partners LLC boosted its holdings in shares of AeroVironment by 296.0% during the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company's stock valued at $27,000 after acquiring an additional 74 shares during the last quarter. RMG Wealth Management LLC purchased a new stake in shares of AeroVironment during the 2nd quarter valued at about $28,000. Spirit of America Management Corp NY purchased a new stake in shares of AeroVironment during the 1st quarter valued at about $36,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of AeroVironment during the 1st quarter valued at about $40,000. Finally, Signaturefd LLC boosted its holdings in shares of AeroVironment by 56.1% during the 1st quarter. Signaturefd LLC now owns 398 shares of the aerospace company's stock valued at $47,000 after acquiring an additional 143 shares during the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVAV. Zacks Research downgraded shares of AeroVironment from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Stifel Nicolaus raised their price target on shares of AeroVironment from $295.00 to $389.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. JMP Securities raised their price target on shares of AeroVironment from $325.00 to $400.00 and gave the company a "market outperform" rating in a report on Friday, October 3rd. Citigroup reiterated an "outperform" rating on shares of AeroVironment in a research note on Friday, October 3rd. Finally, KeyCorp started coverage on shares of AeroVironment in a research note on Sunday, June 29th. They issued an "overweight" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AeroVironment has an average rating of "Buy" and a consensus price target of $356.07.

AeroVironment Price Performance

Shares of NASDAQ:AVAV opened at $409.83 on Tuesday. The firm's 50 day moving average price is $280.18 and its 200-day moving average price is $223.06. AeroVironment, Inc. has a twelve month low of $102.25 and a twelve month high of $417.86. The company has a quick ratio of 5.12, a current ratio of 5.96 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $20.46 billion, a PE ratio of -640.35, a price-to-earnings-growth ratio of 6.65 and a beta of 0.99.

AeroVironment (NASDAQ:AVAV - Get Free Report) last released its earnings results on Monday, August 28th. The aerospace company reported $0.12 EPS for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. The company had revenue of $132.62 million for the quarter. Equities research analysts expect that AeroVironment, Inc. will post 3.38 EPS for the current year.

Insider Buying and Selling

In other AeroVironment news, CEO Wahid Nawabi sold 17,300 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the sale, the chief executive officer owned 122,233 shares in the company, valued at approximately $32,153,390.65. This trade represents a 12.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Trace E. Stevenson sold 1,717 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $381.00, for a total transaction of $654,177.00. Following the sale, the insider owned 4,907 shares in the company, valued at approximately $1,869,567. The trade was a 25.92% decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

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.

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