Summit Investment Advisors Inc. Purchases 282 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Summit Investment Advisors Inc. boosted its position in AeroVironment, Inc. (NASDAQ:AVAV) by 10.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,934 shares of the aerospace company’s stock after purchasing an additional 282 shares during the period. Summit Investment Advisors Inc.’s holdings in AeroVironment were worth $452,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In other news, CEO Wahid Nawabi sold 29,366 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $128.20, for a total value of $3,764,721.20. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $14,765,306.80. The trade was a 20.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on AVAV. Raymond James raised shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 target price for the company in a report on Tuesday, April 8th. Robert W. Baird decreased their target price on AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Jefferies Financial Group dropped their price target on AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, AeroVironment presently has an average rating of “Buy” and a consensus target price of $202.00.

AeroVironment Stock Performance

AVAV opened at $147.61 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. AeroVironment, Inc. has a 52-week low of $102.25 and a 52-week high of $236.60. The firm has a market cap of $4.17 billion, a P/E ratio of 84.83 and a beta of 0.74. The business’s fifty day moving average is $136.63 and its 200-day moving average is $169.69.

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.