Victory Capital Management Inc. cut its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 22.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,970 shares of the aerospace company’s stock after selling 1,446 shares during the period. Victory Capital Management Inc.’s holdings in AeroVironment were worth $303,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of AVAV. FSA Wealth Management LLC bought a new stake in AeroVironment in the 4th quarter worth about $31,000. Valeo Financial Advisors LLC grew its position in AeroVironment by 50.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 600 shares of the aerospace company’s stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in AeroVironment in the 4th quarter worth about $41,000. Nisa Investment Advisors LLC grew its position in AeroVironment by 1,136.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,360 shares of the aerospace company’s stock worth $83,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in AeroVironment by 55.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,855 shares of the aerospace company’s stock worth $113,000 after purchasing an additional 664 shares in the last quarter. 83.51% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on AVAV shares. Piper Sandler upped their price objective on shares of AeroVironment from $76.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Robert W. Baird upped their price objective on shares of AeroVironment from $71.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 24th. BidaskClub upgraded shares of AeroVironment from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. ValuEngine cut shares of AeroVironment from a “buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Canaccord Genuity boosted their target price on shares of AeroVironment from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $82.67.
AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Tuesday, June 23rd. The aerospace company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.06. The company had revenue of $135.22 million for the quarter, compared to analysts’ expectations of $123.44 million. AeroVironment had a net margin of 11.18% and a return on equity of 9.02%. AeroVironment’s revenue was up 53.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. As a group, sell-side analysts anticipate that AeroVironment, Inc. will post 1.87 earnings per share for the current year.
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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