AeroVironment, Inc. $AVAV Holdings Raised by California State Teachers Retirement System

Key Points

• California State Teachers’ Retirement System increased its AeroVironment stake by 19.3% in the first quarter, bringing its holdings to 37,880 shares valued at approximately $6.9 million. Institutional investors collectively own 86.38% of AVAV.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $266.68, despite several recent target-price cuts.
• AeroVironment’s latest quarterly results exceeded expectations: adjusted earnings were $1.84 per share versus the $1.47 consensus, while revenue rose 133.3% year over year to $641.62 million. Shares opened at $168.06, well below their 12-month high of $417.86.

California State Teachers Retirement System lifted its position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 19.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,880 shares of the aerospace company's stock after acquiring an additional 6,120 shares during the period. California State Teachers Retirement System owned about 0.08% of AeroVironment worth $6,934,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new position in shares of AeroVironment in the 4th quarter valued at about $26,000. National Bank of Canada FI raised its position in shares of AeroVironment by 230.3% during the 3rd quarter. National Bank of Canada FI now owns 109 shares of the aerospace company's stock worth $34,000 after purchasing an additional 76 shares during the period. Hazlett Burt & Watson Inc. raised its position in shares of AeroVironment by 90.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 133 shares of the aerospace company's stock worth $32,000 after purchasing an additional 63 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of AeroVironment by 73.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 139 shares of the aerospace company's stock worth $34,000 after purchasing an additional 59 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in AeroVironment during the 3rd quarter valued at approximately $44,000. 86.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on AVAV. Wedbush initiated coverage on AeroVironment in a research report on Tuesday, June 30th. They issued an "outperform" rating and a $250.00 target price on the stock. Canaccord Genuity Group decreased their target price on shares of AeroVironment from $280.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, July 10th. Citizens Jmp cut their target price on AeroVironment from $350.00 to $230.00 and set a "market outperform" rating on the stock in a research note on Friday, July 10th. Wall Street Zen raised AeroVironment from a "sell" rating to a "hold" rating in a research note on Sunday, July 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 price objective on shares of AeroVironment in a report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $266.68.

Insider Activity

In related news, Director Stephen F. Page sold 250 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $174.41, for a total value of $43,602.50. Following the completion of the sale, the director owned 49,001 shares in the company, valued at approximately $8,546,264.41. This represents a 0.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.81% of the stock is owned by corporate insiders.

AeroVironment Stock Down 0.6%

Shares of AeroVironment stock opened at $168.06 on Thursday. AeroVironment, Inc. has a 12-month low of $135.20 and a 12-month high of $417.86. The firm has a market capitalization of $8.51 billion, a PE ratio of -45.67, a price-to-earnings-growth ratio of 5.75 and a beta of 1.41. The company has a quick ratio of 3.59, a current ratio of 4.30 and a debt-to-equity ratio of 0.17. The stock's fifty day moving average is $164.46 and its 200-day moving average is $201.62.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its quarterly earnings results on Monday, June 29th. The aerospace company reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.37. AeroVironment had a positive return on equity of 3.71% and a negative net margin of 9.00%.The firm had revenue of $641.62 million for the quarter, compared to analysts' expectations of $555.97 million. During the same quarter last year, the business posted $1.61 EPS. AeroVironment's revenue was up 133.3% on a year-over-year basis. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. Equities analysts anticipate that AeroVironment, Inc. will post 3.26 earnings per share for the current year.

About AeroVironment

AeroVironment, Inc NASDAQ: AVAV is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.

The company's unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.

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