Sumitomo Mitsui Trust Holdings Inc. acquired a new position in AeroVironment, Inc. (NASDAQ:AVAV) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 223,734 shares of the aerospace company’s stock, valued at approximately $15,981,000. Sumitomo Mitsui Trust Holdings Inc. owned about 0.94% of AeroVironment at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in AVAV. Legal & General Group Plc grew its stake in shares of AeroVironment by 880.8% in the 1st quarter. Legal & General Group Plc now owns 396,310 shares of the aerospace company’s stock worth $18,029,000 after purchasing an additional 355,905 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of AeroVironment by 8.5% during the first quarter. BlackRock Inc. now owns 3,826,856 shares of the aerospace company’s stock worth $174,161,000 after purchasing an additional 298,784 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of AeroVironment by 47.2% during the second quarter. Baillie Gifford & Co. now owns 764,588 shares of the aerospace company’s stock worth $54,614,000 after purchasing an additional 245,033 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in shares of AeroVironment by 52,727.3% during the second quarter. Nikko Asset Management Americas Inc. now owns 230,327 shares of the aerospace company’s stock worth $16,452,000 after purchasing an additional 229,891 shares during the period. Finally, Global X Management Co. LLC boosted its holdings in shares of AeroVironment by 64.7% during the first quarter. Global X Management Co. LLC now owns 418,912 shares of the aerospace company’s stock worth $19,065,000 after purchasing an additional 164,611 shares during the period. 81.36% of the stock is currently owned by institutional investors.
Several analysts recently commented on AVAV shares. BidaskClub upgraded shares of AeroVironment from a “hold” rating to a “buy” rating in a report on Tuesday, July 3rd. Zacks Investment Research cut shares of AeroVironment from a “strong-buy” rating to a “hold” rating in a report on Friday, June 29th. Stifel Nicolaus cut shares of AeroVironment from a “buy” rating to a “hold” rating and raised their price target for the stock from $65.00 to $70.00 in a report on Thursday, June 28th. Drexel Hamilton restated a “hold” rating on shares of AeroVironment in a report on Wednesday, June 27th. Finally, Robert W. Baird raised their price target on shares of AeroVironment from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, June 6th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company’s stock. AeroVironment has an average rating of “Hold” and an average price target of $53.67.
AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, June 26th. The aerospace company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.33. The firm had revenue of $117.38 million for the quarter, compared to analyst estimates of $116.16 million. AeroVironment had a net margin of 6.71% and a return on equity of 6.37%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 earnings per share. analysts anticipate that AeroVironment, Inc. will post 0.97 EPS for the current year.
In related news, VP Kirk J. Flittie sold 3,659 shares of the firm’s stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $72.76, for a total transaction of $266,228.84. Following the transaction, the vice president now owns 9,083 shares of the company’s stock, valued at $660,879.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.00% of the stock is currently owned by company insiders.
AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.
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