Truist Financial Corp Purchases 428 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

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

A number of other institutional investors have also recently made changes to their positions in AVAV. FMR LLC boosted its position in shares of AeroVironment by 37,687.0% during the 2nd quarter. FMR LLC now owns 389,962 shares of the aerospace company’s stock valued at $32,055,000 after purchasing an additional 388,930 shares in the last quarter. State Street Corp raised its stake in AeroVironment by 24.6% during the 1st quarter. State Street Corp now owns 1,350,501 shares of the aerospace company’s stock worth $127,136,000 after buying an additional 266,607 shares during the period. BlackRock Inc. raised its stake in AeroVironment by 5.2% during the 1st quarter. BlackRock Inc. now owns 3,860,339 shares of the aerospace company’s stock worth $363,412,000 after buying an additional 192,305 shares during the period. Millennium Management LLC acquired a new position in AeroVironment during the 2nd quarter worth approximately $15,640,000. Finally, Renaissance Technologies LLC acquired a new position in AeroVironment during the 2nd quarter worth approximately $8,371,000. Institutional investors own 88.82% of the company’s stock.

Insider Buying and Selling at AeroVironment

In other news, Director Stephen F. Page sold 5,089 shares of the firm’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $88.47, for a total value of $450,223.83. Following the completion of the transaction, the director now directly owns 34,837 shares of the company’s stock, valued at $3,082,029.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

AeroVironment Price Performance

Shares of NASDAQ AVAV opened at $82.91 on Monday. The stock has a fifty day simple moving average of $87.06 and a two-hundred day simple moving average of $87.38. AeroVironment, Inc. has a 1-year low of $52.03 and a 1-year high of $114.11. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -259.09 and a beta of 0.56. The company has a current ratio of 3.44, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

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

About AeroVironment

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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).