Mirae Asset Global Investments Co. Ltd. raised its position in AeroVironment, Inc. (NASDAQ:AVAV – Free Report) by 25.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,917 shares of the aerospace company’s stock after purchasing an additional 45,077 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.87% of AeroVironment worth $20,249,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc acquired a new stake in shares of AeroVironment in the fourth quarter worth about $26,000. Geneos Wealth Management Inc. bought a new stake in AeroVironment during the first quarter worth approximately $29,000. Rockefeller Capital Management L.P. grew its holdings in AeroVironment by 47.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 390 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 126 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of AeroVironment in the first quarter valued at approximately $47,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of AeroVironment by 20.3% in the first quarter. Exchange Traded Concepts LLC now owns 884 shares of the aerospace company’s stock worth $81,000 after buying an additional 149 shares during the last quarter. 90.07% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
AVAV has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on shares of AeroVironment in a report on Thursday, June 15th. They issued a “buy” rating and a $115.00 target price on the stock. StockNews.com began coverage on AeroVironment in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of AeroVironment in a report on Thursday, April 13th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AeroVironment presently has a consensus rating of “Buy” and an average target price of $118.75.
AeroVironment Stock Up 0.9 %
AeroVironment (NASDAQ:AVAV – Get Free Report) last released its quarterly earnings data on Tuesday, June 27th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. AeroVironment had a positive return on equity of 5.25% and a negative net margin of 32.60%. The business had revenue of $186.00 million for the quarter, compared to analysts’ expectations of $159.52 million. During the same period in the previous year, the business posted $0.30 earnings per share. AeroVironment’s quarterly revenue was up 40.3% on a year-over-year basis. On average, research analysts anticipate that AeroVironment, Inc. will post 2.79 earnings per share for the current year.
AeroVironment Company Profile
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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