Ameriprise Financial Inc. Boosts Stake in AeroVironment, Inc. $AVAV

Key Points

• Ameriprise Financial Inc. significantly increased its holdings in AeroVironment by 281.6% during the first quarter, acquiring a total of 430,307 shares valued at approximately $51.3 million.
• AeroVironment reported a notable 39.6% increase in year-over-year revenue, achieving $275.05 million for the quarter, with an EPS of $1.61 that exceeded analysts' expectations.
• Brokerages have responded positively, with several setting new price targets; Cantor Fitzgerald issued an "overweight" rating with a price target of $335.00 for the stock.

Ameriprise Financial Inc. grew its stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 281.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,307 shares of the aerospace company's stock after acquiring an additional 317,530 shares during the period. Ameriprise Financial Inc. owned 1.52% of AeroVironment worth $51,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Stephens Investment Management Group LLC boosted its stake in shares of AeroVironment by 41.0% during the first quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company's stock valued at $91,000,000 after purchasing an additional 221,948 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of AeroVironment during the fourth quarter valued at approximately $93,759,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of AeroVironment by 2.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 423,317 shares of the aerospace company's stock valued at $65,144,000 after purchasing an additional 10,693 shares in the last quarter. Congress Asset Management Co. boosted its stake in shares of AeroVironment by 9.0% during the first quarter. Congress Asset Management Co. now owns 363,316 shares of the aerospace company's stock valued at $43,304,000 after purchasing an additional 30,123 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of AeroVironment by 11.9% during the fourth quarter. Northern Trust Corp now owns 299,588 shares of the aerospace company's stock valued at $46,104,000 after purchasing an additional 31,789 shares in the last quarter. 86.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AVAV shares. The Goldman Sachs Group started coverage on shares of AeroVironment in a research note on Monday, June 30th. They set a "buy" rating and a $301.00 price objective on the stock. Stifel Nicolaus started coverage on shares of AeroVironment in a research note on Tuesday, June 24th. They set a "buy" rating and a $240.00 price objective on the stock. Robert W. Baird increased their price objective on shares of AeroVironment from $210.00 to $267.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Citizens Jmp assumed coverage on shares of AeroVironment in a research note on Monday, August 4th. They set a "strong-buy" rating and a $325.00 price objective on the stock. Finally, KeyCorp assumed coverage on shares of AeroVironment in a research note on Sunday, June 29th. They issued an "overweight" rating for the company. Three research analysts have rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $292.33.

Insider Activity

In other AeroVironment news, CEO Wahid Nawabi sold 17,300 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $263.05, for a total value of $4,550,765.00. Following the completion of the transaction, the chief executive officer owned 122,233 shares of the company's stock, valued at approximately $32,153,390.65. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.81% of the company's stock.

AeroVironment Stock Down 1.3%

AVAV traded down $3.19 during trading on Tuesday, hitting $238.17. The stock had a trading volume of 106,034 shares, compared to its average volume of 821,176. The stock has a 50 day simple moving average of $254.22 and a two-hundred day simple moving average of $188.36. The company has a market capitalization of $11.89 billion, a PE ratio of 153.41 and a beta of 1.03. AeroVironment, Inc. has a twelve month low of $102.25 and a twelve month high of $295.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.69 and a current ratio of 3.52.

AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.20. The business had revenue of $275.05 million during the quarter, compared to analysts' expectations of $242.69 million. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The business's quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter last year, the company posted $0.43 earnings per share. AeroVironment has set its FY 2026 guidance at 2.800-3.000 EPS. On average, research analysts predict that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

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.