Truvestments Capital LLC Acquires Shares of 311 AeroVironment, Inc. (NASDAQ:AVAV)

Truvestments Capital LLC acquired a new stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 311 shares of the aerospace company’s stock, valued at approximately $62,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Baillie Gifford & Co. boosted its holdings in shares of AeroVironment by 29.1% during the 3rd quarter. Baillie Gifford & Co. now owns 1,951,393 shares of the aerospace company’s stock valued at $391,254,000 after purchasing an additional 439,717 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of AeroVironment by 19,950.0% during the 3rd quarter. International Assets Investment Management LLC now owns 267,066 shares of the aerospace company’s stock valued at $53,547,000 after purchasing an additional 265,734 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of AeroVironment by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 256,688 shares of the aerospace company’s stock valued at $51,466,000 after purchasing an additional 9,921 shares during the last quarter. Emerald Advisers LLC boosted its holdings in shares of AeroVironment by 10.2% during the 3rd quarter. Emerald Advisers LLC now owns 217,666 shares of the aerospace company’s stock valued at $43,642,000 after purchasing an additional 20,207 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of AeroVironment by 108.4% in the 3rd quarter. Victory Capital Management Inc. now owns 180,824 shares of the aerospace company’s stock valued at $36,255,000 after acquiring an additional 94,062 shares during the last quarter. Institutional investors own 86.38% of the company’s stock.

Insiders Place Their Bets

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 878 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $210.54, for a total transaction of $184,854.12. Following the transaction, the chief financial officer now directly owns 17,376 shares in the company, valued at $3,658,343.04. This represents a 4.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,782 shares of company stock worth $372,615 in the last ninety days. 1.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AVAV shares. Robert W. Baird raised shares of AeroVironment from a “neutral” rating to an “outperform” rating and increased their price target for the company from $161.00 to $220.00 in a report on Wednesday, August 28th. Alembic Global Advisors raised shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price target for the company in a report on Wednesday, August 28th. Royal Bank of Canada lowered their price target on shares of AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Raymond James downgraded shares of AeroVironment from an “outperform” rating to a “market perform” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group raised shares of AeroVironment from a “hold” rating to a “buy” rating and lowered their price target for the company from $240.00 to $230.00 in a report on Wednesday, November 20th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $211.83.

AeroVironment Stock Performance

AeroVironment stock opened at $190.87 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.26 and a quick ratio of 3.04. AeroVironment, Inc. has a 1-year low of $116.51 and a 1-year high of $236.60. The firm has a market capitalization of $5.38 billion, a P/E ratio of 89.61 and a beta of 0.49. The company’s 50-day moving average is $208.11 and its 200 day moving average is $194.27.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings data on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.28. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The company had revenue of $189.48 million for the quarter, compared to analyst estimates of $183.18 million. During the same period in the prior year, the company posted $1.00 EPS. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. Research analysts forecast 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.