International Assets Investment Management LLC Buys 45,366 Shares of AeroVironment, Inc. $AVAV

Key Points

• International Assets Investment Management increased its AeroVironment stake by 1,998.5%, purchasing 45,366 additional shares and bringing its total holdings to 47,636 shares valued at approximately $6.8 million. Institutional investors collectively own 86.38% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $224.81, although some firms recently lowered their targets or downgraded the stock.
• AeroVironment reported quarterly revenue of $480.49 million and adjusted earnings of $0.59 per share, beating consensus estimates; however, shares opened at $126.11, well below their 12-month high of $408.25.

International Assets Investment Management LLC lifted its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 1,998.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,636 shares of the aerospace company's stock after purchasing an additional 45,366 shares during the period. International Assets Investment Management LLC owned about 0.09% of AeroVironment worth $6,775,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. BlackRock Inc. acquired a new position in AeroVironment in the second quarter worth $574,566,000. Korea Investment CORP acquired a new position in shares of AeroVironment in the 2nd quarter valued at about $54,901,000. Pinnacle Associates Ltd. boosted its stake in AeroVironment by 29.6% in the third quarter. Pinnacle Associates Ltd. now owns 191,312 shares of the aerospace company's stock valued at $27,208,000 after acquiring an additional 43,667 shares during the period. Tocqueville Asset Management L.P. acquired a new position in AeroVironment in the second quarter valued at approximately $25,815,000. Finally, Canal Insurance CO grew its holdings in shares of AeroVironment by 14.3% during the third quarter. Canal Insurance CO now owns 80,000 shares of the aerospace company's stock valued at $11,378,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors own 86.38% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AVAV. The Goldman Sachs Group set a $285.00 price target on AeroVironment in a research report on Thursday, September 17th. Needham & Company LLC restated a "buy" rating and set a $225.00 price objective on shares of AeroVironment in a research note on Thursday, September 10th. Piper Sandler dropped their target price on AeroVironment from $248.00 to $235.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. KeyCorp reiterated an "overweight" rating on shares of AeroVironment in a research note on Tuesday, July 28th. Finally, Royal Bank Of Canada lowered shares of AeroVironment from an "outperform" rating to a "sector perform" rating and lowered their price target for the stock from $210.00 to $180.00 in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $224.81.

Insider Transactions at AeroVironment

In related news, CAO Brian Shackley sold 205 shares of the stock in a transaction dated 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 owned 7,888 shares in the company, valued at $1,592,271.68. This represents a 2.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen F. Page sold 250 shares of the firm's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $152.27, for a total transaction of $38,067.50. Following the transaction, the director directly owned 48,253 shares in the company, valued at approximately $7,347,484.31. The trade was a 0.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 805 shares of company stock worth $142,671. Company insiders own 0.79% of the company's stock.

AeroVironment Stock Performance

Shares of AVAV stock opened at $126.11 on Monday. AeroVironment, Inc. has a 12-month low of $113.15 and a 12-month high of $408.25. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of -53.89, a price-to-earnings-growth ratio of 1.98 and a beta of 1.42. The business has a 50 day simple moving average of $141.15 and a 200 day simple moving average of $187.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.26 and a quick ratio of 3.33.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its earnings results on Wednesday, September 9th. The aerospace company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.37. AeroVironment had a positive return on equity of 4.04% and a negative net margin of 5.77%. The firm had revenue of $480.49 million for the quarter, compared to the consensus estimate of $451.95 million. During the same quarter in the previous year, the business earned $0.32 EPS. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. On average, equities research analysts anticipate that AeroVironment, Inc. will post 3.26 EPS for the current year.

AeroVironment Company Profile

AeroVironment, Inc is a defense technology company that develops and supplies uncrewed aircraft systems, loitering munitions, counter-uncrewed-aircraft systems, space systems and related autonomous technologies. Its products are designed for intelligence, surveillance and reconnaissance, precision strike, tactical communications and other defense and security missions.

The company's portfolio includes the Raven, Puma and Quantix unmanned aircraft systems; the JUMP 20 vertical-takeoff-and-landing aircraft; and the Switchblade family of loitering munitions.

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