Victory Capital Management Inc. Raises Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Victory Capital Management Inc. lifted its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 3,565.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,288 shares of the aerospace company’s stock after purchasing an additional 166,615 shares during the quarter. Victory Capital Management Inc. owned 0.61% of AeroVironment worth $21,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in AeroVironment by 26.4% in the 3rd quarter. Wellington Management Group LLP now owns 77,121 shares of the aerospace company’s stock worth $8,601,000 after buying an additional 16,107 shares during the last quarter. Graham Capital Management L.P. bought a new position in AeroVironment during the third quarter valued at approximately $1,190,000. Invesco Ltd. boosted its holdings in AeroVironment by 6.5% in the third quarter. Invesco Ltd. now owns 232,585 shares of the aerospace company’s stock worth $25,940,000 after purchasing an additional 14,193 shares during the last quarter. GAMMA Investing LLC bought a new stake in AeroVironment in the 4th quarter worth approximately $32,000. Finally, International Assets Investment Management LLC purchased a new stake in AeroVironment during the 4th quarter valued at $20,287,000. 86.38% of the stock is owned by institutional investors.

AeroVironment Price Performance

NASDAQ AVAV opened at $181.46 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.16 and a current ratio of 4.66. The business’s fifty day moving average is $154.48 and its 200 day moving average is $135.24. The company has a market capitalization of $5.11 billion, a PE ratio of -42.10 and a beta of 0.44. AeroVironment, Inc. has a fifty-two week low of $88.24 and a fifty-two week high of $184.61.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Monday, March 4th. The aerospace company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.30. AeroVironment had a positive return on equity of 13.93% and a negative net margin of 15.14%. The company had revenue of $186.60 million during the quarter, compared to the consensus estimate of $170.62 million. During the same period in the previous year, the company posted $0.33 EPS. The firm’s revenue was up 38.8% on a year-over-year basis. Sell-side analysts predict that AeroVironment, Inc. will post 2.8 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on AVAV. Robert W. Baird reaffirmed a “neutral” rating and issued a $161.00 price objective on shares of AeroVironment in a report on Friday, March 8th. William Blair restated an “outperform” rating on shares of AeroVironment in a research note on Tuesday, March 5th. Finally, Royal Bank of Canada increased their price objective on shares of AeroVironment from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $140.20.

Insider Transactions at AeroVironment

In related news, SVP Melissa Ann Brown sold 1,000 shares of AeroVironment stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $176.77, for a total transaction of $176,770.00. Following the transaction, the senior vice president now owns 12,339 shares in the company, valued at approximately $2,181,165.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Melissa Ann Brown sold 1,000 shares of AeroVironment stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $176.77, for a total transaction of $176,770.00. Following the sale, the senior vice president now owns 12,339 shares of the company’s stock, valued at approximately $2,181,165.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Trace E. Stevenson sold 1,913 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $183.00, for a total value of $350,079.00. Following the completion of the transaction, the vice president now directly owns 2,570 shares in the company, valued at $470,310. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

About AeroVironment

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.