Summit Investment Advisors Inc. Has $452,000 Position in AeroVironment, Inc. (NASDAQ:AVAV)

Summit Investment Advisors Inc. lifted its position in AeroVironment, Inc. (NASDAQ:AVAV) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,934 shares of the aerospace company’s stock after acquiring an additional 282 shares during the period. Summit Investment Advisors Inc.’s holdings in AeroVironment were worth $452,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Modus Advisors LLC bought a new stake in AeroVironment in the fourth quarter valued at approximately $31,000. Golden State Wealth Management LLC acquired a new position in shares of AeroVironment in the 4th quarter valued at $31,000. Colonial Trust Advisors bought a new stake in shares of AeroVironment in the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB raised its stake in AeroVironment by 1,515.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company’s stock worth $32,000 after buying an additional 197 shares during the period. Finally, Bogart Wealth LLC bought a new position in AeroVironment during the fourth quarter worth about $38,000. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on AVAV. Raymond James upgraded AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price target for the company in a report on Tuesday, April 8th. William Blair restated an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. Jefferies Financial Group cut their price target on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Robert W. Baird lowered their price objective on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $202.00.

Insiders Place Their Bets

In related news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $128.20, for a total value of $3,764,721.20. Following the sale, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $14,765,306.80. The trade was a 20.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.27% of the company’s stock.

AeroVironment Price Performance

NASDAQ AVAV opened at $147.61 on Friday. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month high of $236.60. The firm’s 50 day moving average is $136.63 and its 200-day moving average is $169.69. The company has a market capitalization of $4.17 billion, a PE ratio of 84.83 and a beta of 0.74. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02.

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.