Victory Capital Management Inc. boosted its position in shares of AeroVironment, Inc. (NASDAQ:AVAV – Free Report) by 108.4% in the third quarter, HoldingsChannel.com reports. The fund owned 180,824 shares of the aerospace company’s stock after purchasing an additional 94,062 shares during the period. Victory Capital Management Inc.’s holdings in AeroVironment were worth $36,255,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Security National Bank acquired a new position in shares of AeroVironment in the third quarter valued at approximately $31,000. Canada Pension Plan Investment Board acquired a new position in shares of AeroVironment in the second quarter worth $36,000. Arcadia Investment Management Corp MI grew its stake in shares of AeroVironment by 23.1% in the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock worth $80,000 after acquiring an additional 75 shares in the last quarter. NBC Securities Inc. increased its position in shares of AeroVironment by 47.4% during the third quarter. NBC Securities Inc. now owns 432 shares of the aerospace company’s stock worth $86,000 after acquiring an additional 139 shares during the period. Finally, DT Investment Partners LLC acquired a new stake in shares of AeroVironment in the second quarter valued at $95,000. 86.38% of the stock is owned by institutional investors and hedge funds.
Insider Activity at AeroVironment
In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $196.22, for a total value of $77,703.12. Following the completion of the sale, the chief financial officer now owns 18,254 shares in the company, valued at $3,581,799.88. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,782 shares of company stock valued at $372,615 in the last three months. 1.27% of the stock is currently owned by company insiders.
AeroVironment Stock Down 2.1 %
AeroVironment (NASDAQ:AVAV – Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.28. The firm had revenue of $189.48 million during the quarter, compared to analysts’ expectations of $183.18 million. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. AeroVironment’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. Research analysts expect that AeroVironment, Inc. will post 3.36 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on AVAV. BTIG Research restated a “buy” rating and set a $245.00 price target on shares of AeroVironment in a report on Tuesday, September 17th. Jefferies Financial Group cut shares of AeroVironment from a “buy” rating to a “hold” rating and set a $240.00 target price on the stock. in a report on Tuesday, November 12th. Royal Bank of Canada lowered their price target on shares of AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Baird R W raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Raymond James downgraded shares of AeroVironment from an “outperform” rating to a “market perform” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AeroVironment presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.50.
Read Our Latest Research Report on AeroVironment
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.
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