State of Tennessee Treasury Department reduced its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 5.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,811 shares of the aerospace company’s stock after selling 1,126 shares during the quarter. State of Tennessee Treasury Department owned about 0.08% of AeroVironment worth $964,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings 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 worth $132,000 after purchasing an additional 61 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of AeroVironment by 78.6% during the second quarter. State of Alaska Department of Revenue now owns 4,073 shares of the aerospace company’s stock worth $155,000 after purchasing an additional 1,793 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings 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 worth $185,000 after purchasing an additional 150 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of AeroVironment by 1.2% during the second quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the aerospace company’s stock worth $187,000 after purchasing an additional 56 shares during the period. Finally, First Manhattan Co. bought a new position in shares of AeroVironment during the third quarter worth approximately $270,000. 77.17% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently commented on the stock. BidaskClub cut shares of AeroVironment from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Canaccord Genuity reiterated a “hold” rating and set a $35.00 price target on shares of AeroVironment in a research report on Thursday, August 10th. Jefferies Group LLC increased their price target on shares of AeroVironment from $29.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, August 30th. Piper Jaffray Companies reiterated a “neutral” rating and set a $36.00 price target on shares of AeroVironment in a research report on Thursday, August 31st. Finally, Zacks Investment Research lowered shares of AeroVironment from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Seven investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $39.00.

In other AeroVironment news, Chairman Timothy E. Conver sold 3,800 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $44.14, for a total value of $167,732.00. Following the sale, the chairman now owns 58,138 shares in the company, valued at $2,566,211.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Timothy E. Conver sold 7,600 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $49.14, for a total transaction of $373,464.00. Following the transaction, the chairman now directly owns 58,138 shares of the company’s stock, valued at approximately $2,856,901.32. The disclosure for this sale can be found here. Insiders sold 43,800 shares of company stock worth $2,179,960 in the last 90 days. Company insiders own 11.00% of the company’s stock.

Shares of AeroVironment, Inc. (NASDAQ AVAV) opened at $45.00 on Friday. The stock has a market cap of $1,072.80, a P/E ratio of 53.57, a P/E/G ratio of 4.90 and a beta of 1.24. AeroVironment, Inc. has a 52-week low of $24.70 and a 52-week high of $55.75.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.15. AeroVironment had a net margin of 7.22% and a return on equity of 5.40%. The firm had revenue of $43.80 million for the quarter, compared to analyst estimates of $42.44 million. During the same quarter last year, the business posted ($0.51) earnings per share. The company’s quarterly revenue was up 21.0% on a year-over-year basis. equities research analysts expect that AeroVironment, Inc. will post 0.61 earnings per share for the current year.

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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.

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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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