International Assets Investment Management LLC Sells 265,734 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

International Assets Investment Management LLC reduced its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 99.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,332 shares of the aerospace company’s stock after selling 265,734 shares during the quarter. International Assets Investment Management LLC’s holdings in AeroVironment were worth $208,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AVAV. Franklin Resources Inc. raised its stake in AeroVironment by 299.4% during the third quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock worth $1,037,000 after acquiring an additional 3,614 shares in the last quarter. TD Asset Management Inc acquired a new position in AeroVironment during the second quarter worth $565,000. Driehaus Capital Management LLC raised its stake in AeroVironment by 120.6% during the second quarter. Driehaus Capital Management LLC now owns 136,603 shares of the aerospace company’s stock worth $24,884,000 after acquiring an additional 74,672 shares in the last quarter. Intech Investment Management LLC acquired a new position in AeroVironment during the second quarter worth $1,179,000. Finally, Foundations Investment Advisors LLC acquired a new position in AeroVironment during the third quarter worth $271,000. 86.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AeroVironment

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $198.73, for a total value of $78,697.08. Following the transaction, the chief financial officer now owns 16,472 shares of the company’s stock, valued at approximately $3,273,480.56. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.27% of the stock is owned by company insiders.

AeroVironment Price Performance

Shares of AVAV stock opened at $162.11 on Tuesday. The stock’s fifty day moving average is $179.73 and its 200-day moving average is $186.00. The stock has a market capitalization of $4.57 billion, a PE ratio of 93.17 and a beta of 0.50. AeroVironment, Inc. has a 52 week low of $119.46 and a 52 week high of $236.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.29). The firm had revenue of $188.46 million during the quarter, compared to the consensus estimate of $181.80 million. AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. AeroVironment’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 EPS. Equities research analysts expect that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AVAV shares. Jefferies Financial Group upgraded AeroVironment from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $240.00 to $230.00 in a research note on Wednesday, November 20th. BTIG Research restated a “buy” rating and set a $245.00 target price on shares of AeroVironment in a report on Tuesday, September 17th. Raymond James cut AeroVironment from an “outperform” rating to a “market perform” rating in a report on Monday, September 16th. Finally, William Blair restated an “outperform” rating on shares of AeroVironment in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $225.20.

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.