PNC Financial Services Group Inc. Has $355,000 Stock Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

PNC Financial Services Group Inc. reduced its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,815 shares of the aerospace company’s stock after selling 142 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AeroVironment were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in AeroVironment by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 2,915,436 shares of the aerospace company’s stock worth $367,462,000 after purchasing an additional 54,482 shares during the period. Congress Asset Management Co. MA lifted its holdings in shares of AeroVironment by 5.9% during the 4th quarter. Congress Asset Management Co. MA now owns 322,445 shares of the aerospace company’s stock worth $40,641,000 after acquiring an additional 17,985 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of AeroVironment by 1.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 288,155 shares of the aerospace company’s stock worth $36,319,000 after acquiring an additional 4,728 shares in the last quarter. Northern Trust Corp increased its stake in AeroVironment by 3.2% in the third quarter. Northern Trust Corp now owns 280,165 shares of the aerospace company’s stock valued at $31,247,000 after acquiring an additional 8,666 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in AeroVironment by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 237,477 shares of the aerospace company’s stock valued at $29,932,000 after purchasing an additional 5,652 shares in the last quarter. Institutional investors own 86.38% of the company’s stock.

AeroVironment Stock Performance

NASDAQ:AVAV opened at $182.16 on Friday. The stock’s 50-day moving average is $190.43 and its 200-day moving average is $154.38. The company has a current ratio of 3.56, a quick ratio of 3.16 and a debt-to-equity ratio of 0.02. AeroVironment, Inc. has a 1-year low of $91.00 and a 1-year high of $224.00. The stock has a market cap of $5.13 billion, a P/E ratio of 82.05 and a beta of 0.46.

AeroVironment (NASDAQ:AVAV) last announced its earnings results on Wednesday, June 26th. The aerospace company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.21 by $0.22. AeroVironment had a return on equity of 10.89% and a net margin of 8.32%. The firm had revenue of $197.00 million for the quarter, compared to the consensus estimate of $188.48 million. During the same period in the previous year, the business earned $0.99 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that AeroVironment, Inc. will post 3.36 earnings per share for the current year.

Wall Street Analyst Weigh In

AVAV has been the topic of a number of research analyst reports. BTIG Research began coverage on AeroVironment in a report on Wednesday. They issued a “buy” rating and a $255.00 target price on the stock. Robert W. Baird restated a “neutral” rating and set a $161.00 price objective on shares of AeroVironment in a research report on Friday, March 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of AeroVironment in a research report on Thursday. Finally, William Blair reissued an “outperform” rating on shares of AeroVironment in a report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, AeroVironment has an average rating of “Moderate Buy” and a consensus target price of $175.20.

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.