Global X Management Co. LLC boosted its position in AeroVironment, Inc. (NASDAQ:AVAV) by 238.4% during the second quarter, Holdings Channel reports. The institutional investor owned 43,780 shares of the aerospace company’s stock after buying an additional 30,844 shares during the period. Global X Management Co. LLC’s holdings in AeroVironment were worth $1,672,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AVAV. PNC Financial Services Group Inc. increased its stake in shares of AeroVironment by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock worth $136,000 after buying an additional 38 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of AeroVironment by 0.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,729 shares of the aerospace company’s stock worth $368,000 after buying an additional 48 shares in the last quarter. Sei Investments Co. increased its stake in shares of AeroVironment by 1.8% in the second quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock worth $132,000 after buying an additional 61 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of AeroVironment by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the aerospace company’s stock worth $235,000 after buying an additional 100 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of AeroVironment by 0.9% in the first quarter. Arizona State Retirement System now owns 10,698 shares of the aerospace company’s stock worth $300,000 after buying an additional 100 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Shares of AeroVironment, Inc. (NASDAQ:AVAV) opened at 38.31 on Friday. The firm has a market capitalization of $891.36 million, a PE ratio of 70.94 and a beta of 1.31. AeroVironment, Inc. has a 12-month low of $22.16 and a 12-month high of $40.10. The company’s 50-day moving average price is $37.62 and its 200-day moving average price is $30.80.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, June 27th. The aerospace company reported $1.30 earnings per share 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 firm had revenue of $125.40 million during the quarter, compared to analysts’ expectations of $122.90 million. During the same period in the prior year, the company earned $0.23 earnings per share. The company’s quarterly revenue was up 47.9% on a year-over-year basis. Analysts anticipate that AeroVironment, Inc. will post $0.54 EPS for the current year.

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A number of analysts have commented on the company. Canaccord Genuity reiterated a “hold” rating and issued a $35.00 price objective on shares of AeroVironment in a research report on Thursday. BidaskClub downgraded AeroVironment from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded AeroVironment from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Friday, June 30th. Jefferies Group LLC raised their target price on AeroVironment from $27.00 to $29.00 and gave the stock a “hold” rating in a research report on Wednesday, June 28th. Finally, ValuEngine upgraded AeroVironment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $33.00.

In other AeroVironment news, Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $38.49, for a total transaction of $292,524.00. Following the completion of the sale, the chairman now directly owns 58,138 shares in the company, valued at $2,237,731.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Timothy E. Conver sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $31.74, for a total value of $126,960.00. Following the sale, the chairman now owns 66,621 shares of the company’s stock, valued at $2,114,550.54. The disclosure for this sale can be found here. Insiders have sold 91,897 shares of company stock valued at $3,344,357 over the last 90 days. Corporate insiders own 12.50% of the company’s stock.

About AeroVironment

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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