PNC Financial Services Group Inc. Purchases 156 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

PNC Financial Services Group Inc. grew its position in AeroVironment, Inc. (NASDAQ:AVAV) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,782 shares of the aerospace company’s stock after acquiring an additional 156 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AeroVironment were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in AeroVironment in the 4th quarter worth approximately $46,789,000. Arizona State Retirement System increased its stake in AeroVironment by 0.8% in the 4th quarter. Arizona State Retirement System now owns 8,170 shares of the aerospace company’s stock worth $1,257,000 after acquiring an additional 68 shares during the last quarter. Atria Investments Inc increased its stake in AeroVironment by 7.0% in the 4th quarter. Atria Investments Inc now owns 1,650 shares of the aerospace company’s stock worth $254,000 after acquiring an additional 108 shares during the last quarter. Cypress Capital Group bought a new stake in AeroVironment in the 4th quarter worth approximately $340,000. Finally, Keybank National Association OH increased its stake in AeroVironment by 86.2% in the 4th quarter. Keybank National Association OH now owns 2,594 shares of the aerospace company’s stock worth $399,000 after acquiring an additional 1,201 shares during the last quarter. Institutional investors own 86.38% of the company’s stock.

Wall Street Analysts Forecast Growth

AVAV has been the subject of a number of recent research reports. Jefferies Financial Group dropped their target price on AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Robert W. Baird dropped their target price on AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Finally, William Blair reiterated an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $202.40.

AeroVironment Stock Performance

Shares of AeroVironment stock opened at $124.79 on Wednesday. The stock’s fifty day moving average is $158.68 and its two-hundred day moving average is $180.03. The company has a market capitalization of $3.52 billion, a PE ratio of 71.72 and a beta of 0.42. 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, Inc. has a 52 week low of $110.07 and a 52 week high of $236.60.

About AeroVironment

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.