AeroVironment, Inc. (NASDAQ:AVAV) Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its holdings in AeroVironment, Inc. (NASDAQ:AVAVGet Rating) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,848 shares of the aerospace company’s stock after acquiring an additional 428 shares during the quarter. Truist Financial Corp’s holdings in AeroVironment were worth $653,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its stake in shares of AeroVironment by 227.9% in the second quarter. Parkside Financial Bank & Trust now owns 364 shares of the aerospace company’s stock worth $30,000 after buying an additional 253 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in shares of AeroVironment in the third quarter valued at approximately $31,000. National Bank of Canada FI acquired a new position in shares of AeroVironment in the third quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. lifted its stake in AeroVironment by 187.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 575 shares of the aerospace company’s stock worth $47,000 after acquiring an additional 375 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in AeroVironment in the first quarter worth approximately $47,000. 88.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AeroVironment news, Director Stephen F. Page sold 5,089 shares of the business’s stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $88.47, for a total transaction of $450,223.83. Following the sale, the director now owns 34,837 shares in the company, valued at approximately $3,082,029.39. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AVAV. Canaccord Genuity Group boosted their price objective on shares of AeroVironment from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, November 18th. Raymond James raised shares of AeroVironment from a “market perform” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Thursday, November 10th. StockNews.com began coverage on shares of AeroVironment in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Canaccord Genuity Group boosted their price objective on shares of AeroVironment from $105.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, December 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AeroVironment currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.00.

AeroVironment Price Performance

Shares of AVAV opened at $82.91 on Monday. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -259.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.39 and a current ratio of 3.44. AeroVironment, Inc. has a one year low of $52.03 and a one year high of $114.11. The stock’s fifty day moving average is $87.06 and its 200-day moving average is $87.38.

About AeroVironment

(Get Rating)

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 four segments: Unmanned Aircraft Systems (UAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS).

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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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