Intech Investment Management LLC Has $2.97 Million Stock Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Intech Investment Management LLC lifted its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 129.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,829 shares of the aerospace company’s stock after purchasing an additional 8,358 shares during the quarter. Intech Investment Management LLC’s holdings in AeroVironment were worth $2,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Security National Bank bought a new stake in shares of AeroVironment during the third quarter worth $31,000. Canada Pension Plan Investment Board bought a new stake in AeroVironment during the 2nd quarter worth $36,000. Avior Wealth Management LLC increased its holdings in AeroVironment by 51.0% in the 3rd quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock worth $79,000 after purchasing an additional 133 shares in the last quarter. Arcadia Investment Management Corp MI raised its position in AeroVironment by 23.1% in the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock valued at $80,000 after purchasing an additional 75 shares during the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of AeroVironment by 47.4% during the third quarter. NBC Securities Inc. now owns 432 shares of the aerospace company’s stock valued at $86,000 after purchasing an additional 139 shares in the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AVAV. Baird R W upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 28th. BTIG Research reiterated a “buy” rating and set a $245.00 price target on shares of AeroVironment in a report on Tuesday, September 17th. Robert W. Baird upgraded AeroVironment from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $161.00 to $220.00 in a report on Wednesday, August 28th. Raymond James downgraded AeroVironment from an “outperform” rating to a “market perform” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada decreased their price target on AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $211.83.

Insider Activity

In related news, CFO Kevin Patrick Mcdonnell sold 878 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $210.54, for a total value of $184,854.12. Following the completion of the sale, the chief financial officer now directly owns 17,376 shares of the company’s stock, valued at $3,658,343.04. The trade was a 4.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 1,782 shares of company stock worth $372,615 in the last quarter. 1.27% of the stock is owned by corporate insiders.

AeroVironment Stock Performance

Shares of AeroVironment stock opened at $195.91 on Friday. The business has a 50-day moving average price of $207.29 and a two-hundred day moving average price of $194.07. AeroVironment, Inc. has a 1-year low of $116.51 and a 1-year high of $236.60. The company has a current ratio of 4.26, a quick ratio of 3.04 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.53 billion, a P/E ratio of 91.98 and a beta of 0.49.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.61 by $0.28. AeroVironment had a return on equity of 9.87% and a net margin of 7.82%. The business had revenue of $189.48 million during the quarter, compared to analysts’ expectations of $183.18 million. During the same quarter last year, the firm posted $1.00 earnings per share. The firm’s revenue was up 24.4% on a year-over-year basis. As a group, analysts anticipate that AeroVironment, Inc. will post 3.36 EPS 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.