Janney Montgomery Scott LLC Sells 4,316 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Janney Montgomery Scott LLC reduced its position in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 21.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,093 shares of the aerospace company's stock after selling 4,316 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.06% of AeroVironment worth $1,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of AVAV. Wealth Enhancement Advisory Services LLC boosted its position in shares of AeroVironment by 1,261.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,170 shares of the aerospace company's stock worth $2,642,000 after acquiring an additional 20,542 shares during the last quarter. Curbstone Financial Management Corp boosted its position in shares of AeroVironment by 1.9% during the first quarter. Curbstone Financial Management Corp now owns 8,210 shares of the aerospace company's stock worth $979,000 after acquiring an additional 150 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of AeroVironment by 49.8% during the first quarter. GAMMA Investing LLC now owns 677 shares of the aerospace company's stock worth $81,000 after acquiring an additional 225 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of AeroVironment during the first quarter worth $968,000. Finally, Farther Finance Advisors LLC boosted its position in shares of AeroVironment by 9.5% during the first quarter. Farther Finance Advisors LLC now owns 1,374 shares of the aerospace company's stock worth $167,000 after acquiring an additional 119 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.

AeroVironment Stock Up 15.9%

NASDAQ:AVAV opened at $272.37 on Friday. AeroVironment, Inc. has a fifty-two week low of $102.25 and a fifty-two week high of $272.57. The stock has a market capitalization of $7.69 billion, a P/E ratio of 175.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.52. The company's 50-day simple moving average is $174.55 and its 200-day simple moving average is $159.28.

AeroVironment (NASDAQ:AVAV - Get Free Report) last released its earnings results on Tuesday, June 24th. The aerospace company reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.20. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The company had revenue of $275.05 million during the quarter, compared to analysts' expectations of $242.69 million. During the same period last year, the business earned $0.43 EPS. AeroVironment's revenue for the quarter was up 39.6% on a year-over-year basis. On average, equities analysts anticipate that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group restated a "buy" rating on shares of AeroVironment in a research report on Thursday. Robert W. Baird increased their target price on shares of AeroVironment from $146.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. Royal Bank Of Canada reissued an "outperform" rating and issued a $190.00 target price on shares of AeroVironment in a research note on Monday, May 12th. Jefferies Financial Group reduced their price target on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Finally, Wall Street Zen raised shares of AeroVironment from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, AeroVironment currently has an average rating of "Buy" and an average price target of $216.57.

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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