M&T Bank Corp Grows Position in AeroVironment, Inc. (NASDAQ:AVAV)

M&T Bank Corp lifted its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 11.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,894 shares of the aerospace company’s stock after buying an additional 595 shares during the quarter. M&T Bank Corp’s holdings in AeroVironment were worth $702,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AVAV. Redwood Investments LLC raised its stake in AeroVironment by 0.7% during the fourth quarter. Redwood Investments LLC now owns 9,273 shares of the aerospace company’s stock valued at $1,427,000 after purchasing an additional 66 shares in the last quarter. Portside Wealth Group LLC raised its stake in shares of AeroVironment by 4.3% in the first quarter. Portside Wealth Group LLC now owns 1,741 shares of the aerospace company’s stock valued at $208,000 after acquiring an additional 71 shares during the period. Mackenzie Financial Corp raised its stake in shares of AeroVironment by 5.5% in the fourth quarter. Mackenzie Financial Corp now owns 1,601 shares of the aerospace company’s stock valued at $246,000 after acquiring an additional 83 shares during the period. CoreCap Advisors LLC raised its stake in shares of AeroVironment by 120.2% in the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 101 shares during the period. Finally, Atria Investments Inc raised its stake in shares of AeroVironment by 7.0% in the fourth quarter. Atria Investments Inc now owns 1,650 shares of the aerospace company’s stock valued at $254,000 after acquiring an additional 108 shares during the period. Hedge funds and other institutional investors own 86.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AVAV shares. Cantor Fitzgerald assumed coverage on shares of AeroVironment in a report on Tuesday, July 8th. They issued an “overweight” rating and a $335.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of AeroVironment in a report on Monday, June 30th. They set a “buy” rating and a $301.00 target price on the stock. Raymond James Financial set a $225.00 target price on shares of AeroVironment and gave the stock a “strong-buy” rating in a report on Wednesday, June 25th. KeyCorp initiated coverage on shares of AeroVironment in a report on Sunday, June 29th. They issued an “overweight” rating on the stock. Finally, Jefferies Financial Group raised their price target on shares of AeroVironment from $275.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $265.22.

AeroVironment Stock Performance

AVAV opened at $263.89 on Wednesday. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month high of $295.90. The company has a current ratio of 3.52, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $13.02 billion, a PE ratio of 170.25 and a beta of 0.96. The firm has a 50 day moving average of $201.01 and a two-hundred day moving average of $167.78.

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

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.