Cambridge Investment Research Advisors Inc. Invests $245,000 in AeroVironment, Inc. (AVAV) Stock

Cambridge Investment Research Advisors Inc. acquired a new stake in AeroVironment, Inc. (NASDAQ:AVAV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,431 shares of the aerospace company’s stock, valued at approximately $245,000.

A number of other large investors have also recently modified their holdings of AVAV. Legal & General Group Plc grew its position in AeroVironment by 880.8% in the first quarter. Legal & General Group Plc now owns 396,310 shares of the aerospace company’s stock valued at $18,029,000 after acquiring an additional 355,905 shares in the last quarter. BlackRock Inc. grew its position in AeroVironment by 8.5% in the first quarter. BlackRock Inc. now owns 3,826,856 shares of the aerospace company’s stock valued at $174,161,000 after acquiring an additional 298,784 shares in the last quarter. Baillie Gifford & Co. grew its position in AeroVironment by 47.2% in the second quarter. Baillie Gifford & Co. now owns 764,588 shares of the aerospace company’s stock valued at $54,614,000 after acquiring an additional 245,033 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in AeroVironment by 52,727.3% in the second quarter. Nikko Asset Management Americas Inc. now owns 230,327 shares of the aerospace company’s stock valued at $16,452,000 after acquiring an additional 229,891 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in AeroVironment in the second quarter valued at approximately $15,981,000. 82.17% of the stock is owned by institutional investors.

In other news, VP Kirk J. Flittie sold 3,659 shares of the firm’s stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $72.76, for a total transaction of $266,228.84. Following the completion of the sale, the vice president now owns 9,083 shares of the company’s stock, valued at $660,879.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.70% of the stock is currently owned by company insiders.

AVAV stock opened at $107.16 on Monday. AeroVironment, Inc. has a twelve month low of $41.53 and a twelve month high of $121.32. The company has a market cap of $2.56 billion, a PE ratio of 58.88, a P/E/G ratio of 4.89 and a beta of 1.20.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Wednesday, September 5th. The aerospace company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.79. AeroVironment had a net margin of 15.56% and a return on equity of 10.71%. The business had revenue of $78.04 million during the quarter, compared to the consensus estimate of $73.65 million. During the same quarter last year, the company earned ($0.19) earnings per share. The business’s quarterly revenue was up 127.1% compared to the same quarter last year. research analysts expect that AeroVironment, Inc. will post 1.1 EPS for the current fiscal year.

Several analysts have issued reports on the stock. BidaskClub downgraded shares of AeroVironment from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating and set a $115.00 price target for the company in a research report on Friday, September 7th. Canaccord Genuity raised their price target on shares of AeroVironment from $60.00 to $80.00 and gave the stock a “hold” rating in a research report on Thursday, September 6th. Piper Jaffray Companies reissued a “neutral” rating and set a $77.00 price target on shares of AeroVironment in a research report on Thursday, September 6th. Finally, Robert W. Baird raised their price target on shares of AeroVironment from $52.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 28th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $83.20.

About AeroVironment

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.

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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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