Invictus RG Takes Position in AeroVironment, Inc. (AVAV)
Invictus RG acquired a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,525 shares of the aerospace company’s stock, valued at approximately $844,000. AeroVironment makes up about 0.6% of Invictus RG’s investment portfolio, making the stock its 21st biggest position.
Several other hedge funds and other institutional investors have also modified their holdings of AVAV. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of AeroVironment by 3,574.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 614,301 shares of the aerospace company’s stock worth $68,903,000 after purchasing an additional 597,581 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of AeroVironment during the second quarter worth about $15,981,000. Pinnacle Associates Ltd. purchased a new position in shares of AeroVironment during the second quarter worth about $12,777,000. Renaissance Technologies LLC grew its holdings in shares of AeroVironment by 247.8% during the third quarter. Renaissance Technologies LLC now owns 209,836 shares of the aerospace company’s stock worth $23,537,000 after purchasing an additional 149,500 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in shares of AeroVironment during the second quarter worth about $9,261,000. 83.59% of the stock is owned by institutional investors.
Shares of AVAV opened at $71.08 on Wednesday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 65.81, a PEG ratio of 2.27 and a beta of 1.24. AeroVironment, Inc. has a 1 year low of $41.60 and a 1 year high of $121.32.
Several brokerages have recently commented on AVAV. BidaskClub raised AeroVironment from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 11th. Piper Jaffray Companies reissued a “neutral” rating and set a $77.00 price objective on shares of AeroVironment in a report on Thursday, September 6th. Zacks Investment Research raised AeroVironment from a “hold” rating to a “strong-buy” rating and set a $115.00 target price for the company in a research note on Friday, September 7th. Robert W. Baird upped their target price on AeroVironment from $52.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 28th. Finally, Drexel Hamilton reaffirmed a “hold” rating on shares of AeroVironment in a research note on Friday, November 30th. Six investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $77.80.
AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.
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