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

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

A number of other hedge funds also recently bought and sold shares of AVAV. ORG Partners LLC increased its position in shares of AeroVironment by 296.0% in the second quarter. ORG Partners LLC now owns 99 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 74 shares in the last quarter. RMG Wealth Management LLC purchased a new position in AeroVironment during the 2nd quarter worth approximately $28,000. Bessemer Group Inc. raised its stake in AeroVironment by 60.3% during the 2nd quarter. Bessemer Group Inc. now owns 117 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 44 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of AeroVironment in the first quarter valued at $40,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of AeroVironment in the second quarter worth $46,000. 86.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of AeroVironment in a research note on Tuesday, September 16th. Canaccord Genuity Group upped their target price on AeroVironment from $305.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Jefferies Financial Group raised their price target on shares of AeroVironment from $320.00 to $365.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Citizens Jmp began coverage on shares of AeroVironment in a research report on Monday, August 4th. They set a “strong-buy” rating and a $325.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their price target on AeroVironment from $300.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, AeroVironment presently has an average rating of “Moderate Buy” and a consensus target price of $356.07.

AeroVironment Price Performance

Shares of AeroVironment stock opened at $329.65 on Monday. The company has a current ratio of 5.96, a quick ratio of 5.12 and a debt-to-equity ratio of 0.16. The firm has a fifty 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 PEG ratio of 5.37 and a beta of 1.09. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $417.86.

AeroVironment (NASDAQ:AVAV) last announced its earnings results on Monday, August 28th. The aerospace company reported $0.12 EPS for the quarter. The firm 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%. On average, sell-side analysts expect that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

Insider Transactions at AeroVironment

In other AeroVironment news, insider Trace E. Stevenson sold 1,717 shares of the firm’s stock in a transaction that occurred 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 $1,869,567. This trade represents a 25.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Patrick Mcdonnell sold 998 shares of the company’s stock in a transaction that occurred 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 owned 19,324 shares of the company’s stock, valued at approximately $7,724,575.76. This trade represents a 4.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.