AeroVironment, Inc. (AVAV) Chairman Timothy E. Conver Sells 7,600 Shares
AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 7,600 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $39.04, for a total transaction of $296,704.00. Following the completion of the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at approximately $2,269,707.52. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of AeroVironment, Inc. (NASDAQ:AVAV) traded down 0.33% during trading on Friday, hitting $38.83. 119,133 shares of the stock were exchanged. AeroVironment, Inc. has a 1-year low of $22.16 and a 1-year high of $40.10. The company has a market cap of $903.46 million, a P/E ratio of 71.91 and a beta of 1.31. The firm’s 50-day moving average is $38.26 and its 200 day moving average is $31.58.
AeroVironment (NASDAQ:AVAV) last issued its earnings results on Tuesday, June 27th. The aerospace company reported $1.30 EPS for the quarter, topping the consensus estimate of $0.99 by $0.31. AeroVironment had a return on equity of 3.49% and a net margin of 4.71%. The business had revenue of $125.40 million during the quarter, compared to the consensus estimate of $122.90 million. During the same quarter last year, the company earned $0.23 EPS. The firm’s revenue was up 47.9% compared to the same quarter last year. Equities analysts forecast that AeroVironment, Inc. will post $0.54 earnings per share for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in AVAV. AQR Capital Management LLC acquired a new stake in AeroVironment during the fourth quarter valued at $208,000. Comerica Bank boosted its stake in AeroVironment by 3.7% in the first quarter. Comerica Bank now owns 22,708 shares of the aerospace company’s stock valued at $663,000 after buying an additional 817 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in AeroVironment during the first quarter valued at $1,309,000. BlackRock Inc. boosted its stake in AeroVironment by 216,094.4% in the first quarter. BlackRock Inc. now owns 3,216,973 shares of the aerospace company’s stock valued at $90,172,000 after buying an additional 3,215,485 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in AeroVironment by 6.4% in the fourth quarter. Teachers Advisors LLC now owns 35,318 shares of the aerospace company’s stock valued at $948,000 after buying an additional 2,113 shares during the last quarter. 82.45% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on AVAV. Canaccord Genuity restated a “hold” rating and issued a $35.00 price objective on shares of AeroVironment in a research note on Thursday, August 10th. Piper Jaffray Companies cut shares of AeroVironment from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $30.00 to $35.00 in a research note on Monday, July 3rd. TheStreet upgraded shares of AeroVironment from a “c-” rating to a “b” rating in a research note on Tuesday, June 27th. Zacks Investment Research upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Friday, June 30th. Finally, BidaskClub cut shares of AeroVironment from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Eight equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. AeroVironment has a consensus rating of “Hold” and an average price target of $33.00.
AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.
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