TD Asset Management Inc Takes Position in AeroVironment, Inc. $AVAV

Key Points

• TD Asset Management Inc acquired 6,736 shares of AeroVironment, Inc., valued at approximately $1.9 million, as part of its investment strategy in the aerospace company during the 2nd quarter.
• AeroVironment's stock has been positively reviewed by multiple analysts, with target price upgrades from firms including Canaccord Genuity Group and Goldman Sachs, indicating strong market confidence.
• AeroVironment reported quarterly earnings showcasing a revenue of $132.62 million and anticipates a projected earnings per share (EPS) of 3.38 for the current fiscal year.

TD Asset Management Inc purchased a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,736 shares of the aerospace company's stock, valued at approximately $1,919,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE boosted its stake in AeroVironment by 13.5% in the second quarter. US Bancorp DE now owns 8,068 shares of the aerospace company's stock valued at $2,299,000 after acquiring an additional 961 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in AeroVironment by 41.0% in 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 acquiring an additional 221,948 shares during the last quarter. Penserra Capital Management LLC boosted its stake in AeroVironment by 35.4% in the first quarter. Penserra Capital Management LLC now owns 17,873 shares of the aerospace company's stock valued at $2,130,000 after acquiring an additional 4,669 shares during the last quarter. Stephens Inc. AR boosted its stake in AeroVironment by 94.8% in the first quarter. Stephens Inc. AR now owns 4,415 shares of the aerospace company's stock valued at $526,000 after acquiring an additional 2,148 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in AeroVironment in the first quarter valued at approximately $1,142,000. 86.38% of the stock is owned by institutional investors.

AeroVironment Trading Up 3.6%

AVAV opened at $377.18 on Wednesday. The stock has a market capitalization of $18.83 billion, a P/E ratio of -589.33, a P/E/G ratio of 6.17 and a beta of 0.99. AeroVironment, Inc. has a 12 month low of $102.25 and a 12 month high of $417.86. The firm's fifty day simple moving average is $294.63 and its 200 day simple moving average is $233.01. The company has a current ratio of 5.96, a quick ratio of 5.12 and a debt-to-equity ratio of 0.16.

AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its quarterly earnings data on Monday, August 28th. The aerospace company reported $0.12 EPS for the quarter. The business had revenue of $132.62 million for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. As a group, research analysts anticipate that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Insider Buying and Selling at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 998 shares of the business's stock in a transaction on Friday, October 10th. The shares were sold at an average price of $399.74, for a total value of $398,940.52. Following the sale, the chief financial officer directly owned 19,324 shares of the company's stock, valued at approximately $7,724,575.76. The trade was a 4.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Trace E. Stevenson sold 1,717 shares of the business's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $381.00, for a total transaction of $654,177.00. Following the completion of the sale, the insider directly owned 4,907 shares in the company, valued at $1,869,567. This represents a 25.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of AeroVironment from $300.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 target price on shares of AeroVironment in a report on Wednesday, September 10th. Canaccord Genuity Group increased their target price on shares of AeroVironment from $305.00 to $430.00 and gave the stock a "buy" rating in a report on Tuesday, October 7th. JMP Securities increased their target price on shares of AeroVironment from $325.00 to $400.00 and gave the stock a "market outperform" rating in a report on Friday, October 3rd. Finally, KeyCorp assumed coverage on shares of AeroVironment in a report on Sunday, June 29th. They issued an "overweight" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, AeroVironment has a consensus rating of "Buy" and a consensus target price of $356.07.

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.

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