Wealth Enhancement Advisory Services LLC Takes Position in AeroVironment, Inc. (NASDAQ:AVAV)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,628 shares of the aerospace company’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds have also modified their holdings of AVAV. Alyeska Investment Group L.P. purchased a new position in shares of AeroVironment during the fourth quarter valued at $93,759,000. Raymond James Financial Inc. acquired a new stake in shares of AeroVironment in the fourth quarter worth about $46,789,000. Norges Bank acquired a new stake in shares of AeroVironment in the fourth quarter worth about $37,502,000. Baillie Gifford & Co. lifted its position in shares of AeroVironment by 9.4% in the fourth quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company’s stock worth $328,598,000 after buying an additional 183,887 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of AeroVironment by 415.7% in the fourth quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company’s stock worth $30,620,000 after buying an additional 160,390 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.

Insider Activity at AeroVironment

In other news, CEO Wahid Nawabi sold 29,366 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $128.20, for a total value of $3,764,721.20. Following the sale, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $14,765,306.80. This represents a 20.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.27% of the company’s stock.

Analysts Set New Price Targets

AVAV has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $190.00 price target on shares of AeroVironment in a research report on Monday, May 12th. Raymond James raised AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price objective for the company in a research report on Tuesday, April 8th. Wall Street Zen cut AeroVironment from a “hold” rating to a “sell” rating in a research report on Saturday. Jefferies Financial Group cut their price objective on AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Finally, Robert W. Baird boosted their price objective on AeroVironment from $146.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AeroVironment currently has an average rating of “Buy” and an average price target of $208.50.

AeroVironment Trading Up 2.6%

Shares of AVAV opened at $195.10 on Monday. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month high of $236.60. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 112.13 and a beta of 0.81. The stock’s 50-day moving average price is $162.93 and its 200 day moving average price is $157.60.

AeroVironment 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.