Rhumbline Advisers grew its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 1.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 43,428 shares of the aerospace company’s stock after buying an additional 429 shares during the period. Rhumbline Advisers owned approximately 0.19% of AeroVironment worth $1,659,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of AeroVironment by 0.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock valued at $136,000 after buying an additional 38 shares during the last quarter. Sei Investments Co. raised its position in shares of AeroVironment by 1.8% during the second quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock valued at $132,000 after buying an additional 61 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of AeroVironment by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the aerospace company’s stock valued at $235,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System raised its position in shares of AeroVironment by 0.9% during the first quarter. Arizona State Retirement System now owns 10,698 shares of the aerospace company’s stock valued at $300,000 after buying an additional 100 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of AeroVironment by 3.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock valued at $185,000 after buying an additional 150 shares during the last quarter. 77.55% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on AVAV. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $36.00 price objective on shares of AeroVironment in a research report on Thursday, August 31st. Canaccord Genuity upped their price objective on shares of AeroVironment from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, August 30th. Jefferies Group LLC upped their price objective on shares of AeroVironment from $29.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, August 30th. Robert W. Baird reaffirmed a “hold” rating and set a $35.00 price objective on shares of AeroVironment in a research report on Monday, August 28th. Finally, BidaskClub lowered shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Six research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. AeroVironment has a consensus rating of “Hold” and an average price target of $38.00.

In related news, Chairman Timothy E. Conver sold 4,000 shares of AeroVironment stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $30.99, for a total transaction of $123,960.00. Following the sale, the chairman now directly owns 66,621 shares of the company’s stock, valued at approximately $2,064,584.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Timothy E. Conver sold 32,800 shares of AeroVironment stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $39.17, for a total transaction of $1,284,776.00. Following the sale, the chairman now directly owns 69,500 shares in the company, valued at $2,722,315. The disclosure for this sale can be found here. Insiders sold a total of 83,097 shares of company stock valued at $3,280,965 over the last 90 days. Corporate insiders own 11.00% of the company’s stock.

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AeroVironment, Inc. (AVAV) opened at 49.13 on Tuesday. AeroVironment, Inc. has a 52-week low of $22.16 and a 52-week high of $51.04. The company has a 50-day moving average of $42.09 and a 200 day moving average of $34.00. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 57.87 and a beta of 1.26.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.15. AeroVironment had a net margin of 7.22% and a return on equity of 5.40%. The business had revenue of $43.80 million during the quarter, compared to analysts’ expectations of $42.44 million. During the same quarter in the previous year, the company earned ($0.51) EPS. The business’s revenue was up 21.0% on a year-over-year basis. On average, equities research analysts anticipate that AeroVironment, Inc. will post $0.61 EPS for the current year.

AeroVironment Company Profile

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.

Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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