Heard Capital LLC Boosts Position in AeroVironment, Inc. (NASDAQ:AVAV)

Heard Capital LLC increased its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 25.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 592,136 shares of the aerospace company's stock after purchasing an additional 120,447 shares during the quarter. AeroVironment makes up approximately 6.7% of Heard Capital LLC's portfolio, making the stock its 9th largest position. Heard Capital LLC owned about 2.10% of AeroVironment worth $118,723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVAV. Security National Bank bought a new stake in shares of AeroVironment in the 3rd quarter valued at approximately $31,000. Canada Pension Plan Investment Board acquired a new position in shares of AeroVironment during the 2nd quarter worth $36,000. Truvestments Capital LLC bought a new position in shares of AeroVironment during the 3rd quarter valued at $62,000. Avior Wealth Management LLC lifted its stake in shares of AeroVironment by 51.0% in the 3rd quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company's stock valued at $79,000 after purchasing an additional 133 shares during the last quarter. Finally, Arcadia Investment Management Corp MI boosted its holdings in AeroVironment by 23.1% in the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company's stock worth $80,000 after purchasing an additional 75 shares in the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.

AeroVironment Stock Performance

AVAV stock traded down $10.09 during trading on Tuesday, reaching $193.10. 546,971 shares of the stock were exchanged, compared to its average volume of 341,492. AeroVironment, Inc. has a twelve month low of $116.51 and a twelve month 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 capitalization of $5.45 billion, a P/E ratio of 92.62 and a beta of 0.45. The stock has a 50 day simple moving average of $208.88 and a 200-day simple moving average of $194.36.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.28. The business had revenue of $189.48 million during the quarter, compared to analyst estimates of $183.18 million. AeroVironment had a return on equity of 9.87% and a net margin of 7.82%. AeroVironment's revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. As a group, sell-side analysts anticipate that AeroVironment, Inc. will post 3.36 earnings per share for the current year.

Insider Activity

In other news, CFO Kevin Patrick Mcdonnell sold 878 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $210.54, for a total transaction of $184,854.12. Following the sale, the chief financial officer now owns 17,376 shares in the company, valued at approximately $3,658,343.04. This represents a 4.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AVAV shares. Baird R W raised AeroVironment from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 28th. Robert W. Baird upgraded 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. Royal Bank of Canada dropped their target price on shares of AeroVironment from $230.00 to $215.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th. BTIG Research restated a "buy" rating and set a $245.00 price target on shares of AeroVironment in a report on Tuesday, September 17th. Finally, Raymond James lowered AeroVironment from an "outperform" rating to a "market perform" rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $211.83.

AeroVironment 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.