Truist Financial Corp Raises Position in AeroVironment, Inc. (NASDAQ:AVAV)

Truist Financial Corp lifted its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAVGet Rating) by 5.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GPS Wealth Strategies Group LLC increased its position in shares of AeroVironment by 376.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 767 shares of the aerospace company’s stock valued at $64,000 after acquiring an additional 606 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in AeroVironment by 18.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 9,642 shares of the aerospace company’s stock valued at $793,000 after purchasing an additional 1,508 shares during the period. BNP Paribas Arbitrage SA grew its holdings in AeroVironment by 15.5% during the second quarter. BNP Paribas Arbitrage SA now owns 20,640 shares of the aerospace company’s stock valued at $1,697,000 after purchasing an additional 2,767 shares during the period. New York State Teachers Retirement System grew its holdings in AeroVironment by 1.1% during the second quarter. New York State Teachers Retirement System now owns 17,667 shares of the aerospace company’s stock valued at $1,452,000 after purchasing an additional 200 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in AeroVironment by 227.9% during the second quarter. Parkside Financial Bank & Trust now owns 364 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 253 shares during the period. 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 AeroVironment stock in a transaction that occurred on Thursday, January 12th. The shares were sold at an average price of $88.47, for a total transaction of $450,223.83. Following the completion of the sale, the director now directly owns 34,837 shares in the company, valued at $3,082,029.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by company insiders.

AeroVironment Price Performance

Shares of NASDAQ AVAV opened at $82.91 on Monday. The stock’s 50-day simple moving average is $87.06 and its two-hundred day simple moving average is $87.38. AeroVironment, Inc. has a twelve month low of $52.03 and a twelve month high of $114.11. The firm has a market capitalization of $2.09 billion, a P/E ratio of -259.09 and a beta of 0.56. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

AVAV has been the subject of several research reports. 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 report on Thursday, November 10th. Canaccord Genuity Group increased their price objective on AeroVironment from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, November 18th. StockNews.com began coverage on AeroVironment in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Canaccord Genuity Group raised their price target on AeroVironment from $105.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, December 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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).

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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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