American Capital Management Inc. Invests $69.75 Million in AeroVironment, Inc. $AVAV

Key Points

• American Capital Management bought 422,518 AeroVironment shares worth approximately $69.75 million, making AVAV about 3.1% of its portfolio and its eighth-largest holding. Institutional investors collectively own 86.38% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $266.68 target price, despite several recent target reductions. Ratings include 18 Buys, two Strong Buys, three Holds and one Sell.
• AeroVironment reported a strong quarter, with revenue up 133.3% year over year to $641.62 million and EPS of $1.84, beating estimates of $1.47. However, the stock opened at $146.88, well below its 12-month high of $417.86, while insiders have made modest sales under pre-arranged trading plans.

American Capital Management Inc. purchased a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 422,518 shares of the aerospace company's stock, valued at approximately $69,745,000. AeroVironment makes up about 3.1% of American Capital Management Inc.'s portfolio, making the stock its 8th largest position. American Capital Management Inc. owned about 0.83% of AeroVironment at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of AeroVironment in the 2nd quarter worth $574,566,000. Norges Bank purchased a new stake in AeroVironment in the fourth quarter worth about $94,655,000. Korea Investment CORP bought a new position in AeroVironment during the 2nd quarter worth about $54,901,000. Swedbank AB grew its holdings in AeroVironment by 22,773.4% during the 4th quarter. Swedbank AB now owns 261,214 shares of the aerospace company's stock worth $63,185,000 after acquiring an additional 260,072 shares in the last quarter. Finally, Marshall Wace LLP increased its position in AeroVironment by 4,770.1% during the 4th quarter. Marshall Wace LLP now owns 260,207 shares of the aerospace company's stock valued at $62,941,000 after purchasing an additional 254,864 shares during the period. Hedge funds and other institutional investors own 86.38% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AVAV shares. Canaccord Genuity Group dropped their price objective on shares of AeroVironment from $280.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, July 10th. Jefferies Financial Group reduced their price objective on shares of AeroVironment from $305.00 to $229.00 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Needham & Company LLC reissued a "buy" rating and issued a $225.00 price objective on shares of AeroVironment in a research note on Thursday, July 9th. Weiss Ratings restated a "sell (d)" rating on shares of AeroVironment in a report on Monday, June 8th. Finally, Zacks Research raised AeroVironment from a "strong sell" rating to a "hold" rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, AeroVironment has a consensus rating of "Moderate Buy" and a consensus target price of $266.68.

Insider Transactions at AeroVironment

In related news, CAO Brian Charles Shackley sold 205 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $201.86, for a total value of $41,381.30. Following the completion of the transaction, the chief accounting officer directly owned 7,888 shares of the company's stock, valued at $1,592,271.68. This trade represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen F. Page sold 250 shares of AeroVironment stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $191.98, for a total transaction of $47,995.00. Following the completion of the sale, the director owned 48,503 shares of the company's stock, valued at $9,311,605.94. This trade represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 705 shares of company stock worth $132,979 in the last 90 days. Insiders own 0.79% of the company's stock.

AeroVironment Stock Performance

Shares of AVAV stock opened at $146.88 on Thursday. AeroVironment, Inc. has a 12-month low of $135.20 and a 12-month high of $417.86. The business's fifty day simple moving average is $160.54 and its 200-day simple moving average is $187.63. The company has a current ratio of 4.30, a quick ratio of 3.59 and a debt-to-equity ratio of 0.17. The company has a market cap of $7.46 billion, a PE ratio of -39.91, a PEG ratio of 5.01 and a beta of 1.41.

AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $555.97 million. During the same quarter last year, the firm earned $1.61 EPS. The business's quarterly revenue was up 133.3% on a year-over-year basis. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. Analysts expect that AeroVironment, Inc. will post 3.26 earnings per share for the current fiscal 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.

Want to see what other hedge funds are holding AVAV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AeroVironment, Inc. (NASDAQ:AVAV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source