Laffer Tengler Investments Inc. Takes $570,000 Position in AeroVironment, Inc. $AVAV

Laffer Tengler Investments Inc. bought a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,000 shares of the aerospace company’s stock, valued at approximately $570,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new position in AeroVironment in the 1st quarter valued at approximately $491,000. M&T Bank Corp raised its stake in shares of AeroVironment by 11.2% in the first quarter. M&T Bank Corp now owns 5,894 shares of the aerospace company’s stock valued at $702,000 after purchasing an additional 595 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of AeroVironment by 10.1% in the first quarter. Alps Advisors Inc. now owns 6,711 shares of the aerospace company’s stock valued at $800,000 after purchasing an additional 616 shares in the last quarter. Xponance Inc. lifted its position in AeroVironment by 6.6% in the first quarter. Xponance Inc. now owns 2,130 shares of the aerospace company’s stock worth $254,000 after purchasing an additional 132 shares during the period. Finally, Emerald Advisers LLC boosted its stake in AeroVironment by 5.1% during the first quarter. Emerald Advisers LLC now owns 224,818 shares of the aerospace company’s stock worth $26,796,000 after buying an additional 10,808 shares in the last quarter. 86.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVAV. Raymond James Financial increased their price objective on shares of AeroVironment from $300.00 to $348.00 and gave the company a “strong-buy” rating in a research note on Monday, September 29th. New Street Research set a $365.00 target price on shares of AeroVironment in a research note on Wednesday, October 1st. The Goldman Sachs Group increased their price target on shares of AeroVironment from $300.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Robert W. Baird raised their price target on shares of AeroVironment from $267.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada upped their price objective on AeroVironment from $300.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, September 25th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $356.07.

Insider Buying and Selling

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 998 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $399.74, for a total value of $398,940.52. Following the transaction, the chief financial officer directly owned 19,324 shares in the company, valued at approximately $7,724,575.76. This trade represents a 4.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Trace E. Stevenson sold 1,717 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $381.00, for a total value of $654,177.00. Following the sale, the insider owned 4,907 shares of the company’s stock, valued at approximately $1,869,567. The trade was a 25.92% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.81% of the company’s stock.

AeroVironment Stock Performance

AeroVironment stock opened at $329.65 on Monday. The stock has a 50-day simple moving average of $325.64 and a 200 day simple moving average of $254.86. The stock has a market capitalization of $16.46 billion, a price-to-earnings ratio of -515.07, a P/E/G ratio of 5.37 and a beta of 1.09. The company has a quick ratio of 5.12, a current ratio of 5.96 and a debt-to-equity ratio of 0.16. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month high of $417.86.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Monday, August 28th. The aerospace company reported $0.12 earnings per share for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. The firm had revenue of $132.62 million during the quarter. On average, research analysts anticipate that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal 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.