SteelPeak Wealth LLC Has $2.58 Million Stock Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

SteelPeak Wealth LLC increased its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,847 shares of the aerospace company’s stock after acquiring an additional 153 shares during the quarter. SteelPeak Wealth LLC’s holdings in AeroVironment were worth $2,576,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Security National Bank bought a new position in shares of AeroVironment in the 3rd quarter worth about $31,000. Canada Pension Plan Investment Board bought a new stake in AeroVironment in the second quarter worth approximately $36,000. NBC Securities Inc. lifted its stake in AeroVironment by 47.4% in the third quarter. NBC Securities Inc. now owns 432 shares of the aerospace company’s stock valued at $86,000 after buying an additional 139 shares during the period. DT Investment Partners LLC bought a new position in shares of AeroVironment during the 2nd quarter worth approximately $95,000. Finally, GAMMA Investing LLC grew its position in shares of AeroVironment by 32.2% during the 3rd quarter. GAMMA Investing LLC now owns 603 shares of the aerospace company’s stock worth $121,000 after buying an additional 147 shares during the period. 86.38% of the stock is currently owned by institutional investors.

Insider Activity at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $196.22, for a total value of $77,703.12. Following the transaction, the chief financial officer now directly owns 18,254 shares of the company’s stock, valued at approximately $3,581,799.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 1,787 shares of company stock valued at $352,178. 1.27% of the stock is owned by insiders.

AeroVironment Stock Down 0.8 %

NASDAQ AVAV traded down $1.77 on Wednesday, reaching $219.08. The company had a trading volume of 71,310 shares, compared to its average volume of 335,939. The company has a quick ratio of 3.04, a current ratio of 4.26 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $6.18 billion, a P/E ratio of 102.48 and a beta of 0.50. The company’s fifty day moving average is $198.98 and its 200 day moving average is $187.61. AeroVironment, Inc. has a 52-week low of $112.67 and a 52-week high of $227.18.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.28. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The company had revenue of $189.48 million for the quarter, compared to analyst estimates of $183.18 million. During the same period last year, the firm earned $1.00 earnings per share. The firm’s revenue was up 24.4% on a year-over-year basis. Sell-side analysts anticipate that AeroVironment, Inc. will post 3.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AVAV has been the subject of a number of research reports. Robert W. Baird upgraded shares of AeroVironment from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $161.00 to $220.00 in a report on Wednesday, August 28th. Alembic Global Advisors raised AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price target on the stock in a research note on Wednesday, August 28th. Baird R W raised AeroVironment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 28th. Raymond James downgraded shares of AeroVironment from an “outperform” rating to a “market perform” rating in a research report on Monday, September 16th. Finally, BTIG Research restated a “buy” rating and set a $245.00 price objective on shares of AeroVironment in a report on Tuesday, September 17th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AeroVironment currently has an average rating of “Buy” and an average target price of $208.20.

AeroVironment Company 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.