Clifford Swan Investment Counsel LLC Invests $259,000 in AeroVironment, Inc. $AVAV

Clifford Swan Investment Counsel LLC purchased a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the second quarter, HoldingsChannel reports. The firm purchased 910 shares of the aerospace company’s stock, valued at approximately $259,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVAV. Ameriprise Financial Inc. grew its position in AeroVironment by 281.6% during the first quarter. Ameriprise Financial Inc. now owns 430,307 shares of the aerospace company’s stock worth $51,288,000 after buying an additional 317,530 shares during the period. Alyeska Investment Group L.P. grew its position in AeroVironment by 48.2% during the first quarter. Alyeska Investment Group L.P. now owns 902,814 shares of the aerospace company’s stock worth $107,606,000 after buying an additional 293,553 shares during the period. Stephens Investment Management Group LLC grew its position in AeroVironment by 41.0% during the first quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company’s stock worth $91,000,000 after buying an additional 221,948 shares during the period. Nuveen LLC acquired a new position in AeroVironment during the first quarter worth about $23,501,000. Finally, Tocqueville Asset Management L.P. acquired a new position in AeroVironment during the first quarter worth about $16,802,000. 86.38% of the stock is currently owned by institutional investors and hedge funds.

AeroVironment Stock Up 2.6%

AVAV stock opened at $364.28 on Friday. The company’s 50 day simple moving average is $298.93 and its 200-day simple moving average is $235.58. The firm has a market capitalization of $18.19 billion, a PE ratio of -569.18, a P/E/G ratio of 6.02 and a beta of 0.99. AeroVironment, Inc. has a 12 month low of $102.25 and a 12 month high of $417.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.96 and a quick ratio of 5.12.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Monday, August 28th. The aerospace company reported $0.12 EPS for the quarter. The business had revenue of $132.62 million for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. Equities analysts expect that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AVAV shares. JMP Securities upped their target price on shares of AeroVironment from $325.00 to $400.00 and gave the stock a “market outperform” rating in a research report on Friday, October 3rd. Citizens Jmp started coverage on shares of AeroVironment in a research report on Monday, August 4th. They set a “strong-buy” rating and a $325.00 target price on the stock. Jefferies Financial Group upped their target price on shares of AeroVironment from $320.00 to $365.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Zacks Research lowered shares of AeroVironment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Finally, Canaccord Genuity Group increased their price target on shares of AeroVironment from $305.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, AeroVironment has an average rating of “Buy” and a consensus price target of $356.07.

Insider Activity at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 998 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $399.74, for a total transaction of $398,940.52. Following the transaction, the chief financial officer owned 19,324 shares of the company’s stock, valued at approximately $7,724,575.76. This represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Trace E. Stevenson sold 1,717 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $381.00, for a total transaction of $654,177.00. Following the transaction, the insider directly owned 4,907 shares in the company, valued at $1,869,567. The trade was a 25.92% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

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.