Hsbc Holdings PLC Has $2.80 Million Stake in AeroVironment, Inc. $AVAV

Hsbc Holdings PLC increased its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 243.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,776 shares of the aerospace company’s stock after purchasing an additional 6,933 shares during the quarter. Hsbc Holdings PLC’s holdings in AeroVironment were worth $2,802,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. ORG Partners LLC lifted its holdings in AeroVironment by 296.0% during the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company’s stock worth $27,000 after buying an additional 74 shares in the last quarter. RMG Wealth Management LLC acquired a new position in shares of AeroVironment during the second quarter valued at $28,000. Bessemer Group Inc. lifted its stake in shares of AeroVironment by 60.3% during the second quarter. Bessemer Group Inc. now owns 117 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 44 shares during the period. Cullen Frost Bankers Inc. bought a new position in AeroVironment in the second quarter valued at about $46,000. Finally, MAI Capital Management increased its position in AeroVironment by 143.8% in the second quarter. MAI Capital Management now owns 195 shares of the aerospace company’s stock worth $56,000 after purchasing an additional 115 shares during the period. Institutional investors own 86.38% of the company’s stock.

AeroVironment Stock Down 3.2%

Shares of NASDAQ AVAV opened at $278.39 on Friday. The stock has a market cap of $13.90 billion, a P/E ratio of -434.98, a P/E/G ratio of 3.94 and a beta of 1.13. The firm has a 50 day moving average price of $335.72 and a 200 day moving average price of $271.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.12 and a current ratio of 5.96. AeroVironment, Inc. has a 52-week low of $102.25 and a 52-week high of $417.86.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Monday, August 28th. The aerospace company reported $0.12 earnings per share for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. The company had revenue of $132.62 million for the quarter. Analysts expect that AeroVironment, Inc. will post 3.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AVAV shares. Citigroup restated an “outperform” rating on shares of AeroVironment in a research report on Friday, October 3rd. BNP Paribas Exane assumed coverage on shares of AeroVironment in a report on Tuesday, November 18th. They issued an “outperform” rating and a $355.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research note on Tuesday, September 16th. Canaccord Genuity Group upped their target price on shares of AeroVironment from $305.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, JMP Securities increased their price target on AeroVironment from $325.00 to $400.00 and gave the company a “market outperform” rating in a research note on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $358.19.

Insider Activity

In other news, insider Trace E. Stevenson sold 1,717 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $381.00, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Patrick Mcdonnell sold 998 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $399.74, for a total value of $398,940.52. Following the completion of the transaction, the chief financial officer owned 19,324 shares of the company’s stock, valued at $7,724,575.76. This represents a 4.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 3,228 shares of company stock worth $1,223,157. Corporate insiders own 0.81% of the company’s stock.

AeroVironment 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.