Stephens Investment Management Group LLC lowered its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 21.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 275,316 shares of the aerospace company’s stock after selling 76,036 shares during the period. Stephens Investment Management Group LLC owned about 1.15% of AeroVironment worth $14,900,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. raised its position in 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 acquiring an additional 61 shares during the last quarter. PNC Financial Services Group Inc. raised its position in AeroVironment by 0.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock worth $136,000 after acquiring an additional 38 shares during the last quarter. State of Alaska Department of Revenue raised its position in 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 acquiring an additional 1,793 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in 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 acquiring an additional 150 shares during the last quarter. Finally, First Manhattan Co. acquired a new position in AeroVironment during the third quarter worth about $270,000. Institutional investors own 77.17% of the company’s stock.

In other AeroVironment news, Chairman Timothy E. Conver sold 7,600 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 58,138 shares in the company, valued at $2,856,901.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Timothy E. Conver sold 3,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $44.14, for a total transaction of $167,732.00. Following the sale, the chairman now owns 58,138 shares of the company’s stock, valued at $2,566,211.32. The disclosure for this sale can be found here. Insiders have sold 36,200 shares of company stock valued at $1,839,100 in the last ninety days. 11.00% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on AVAV. BidaskClub lowered shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Canaccord Genuity reissued a “hold” rating and issued a $35.00 price objective on shares of AeroVironment in a research report on Thursday, August 10th. Piper Jaffray Companies reissued a “neutral” rating and issued a $36.00 price objective on shares of AeroVironment in a research report on Thursday, August 31st. Jefferies Group LLC boosted 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. Finally, ValuEngine lowered shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Seven research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $39.00.

Shares of AeroVironment, Inc. (NASDAQ AVAV) traded up $1.38 during mid-day trading on Wednesday, reaching $45.08. 276,600 shares of the company traded hands, compared to its average volume of 237,176. AeroVironment, Inc. has a 1 year low of $24.70 and a 1 year high of $55.75. The firm has a market capitalization of $1,041.82, a price-to-earnings ratio of 52.02, a price-to-earnings-growth ratio of 4.76 and a beta of 1.24.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Tuesday, August 29th. The aerospace company reported ($0.19) EPS 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 firm had revenue of $43.80 million during the quarter, compared to analyst estimates of $42.44 million. During the same quarter in the prior year, the business posted ($0.51) earnings per share. AeroVironment’s revenue for the quarter was up 21.0% compared to the same quarter last year. sell-side analysts forecast that AeroVironment, Inc. will post 0.61 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This article was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this article can be viewed at https://www.watchlistnews.com/stephens-investment-management-group-llc-cuts-holdings-in-aerovironment-inc-avav/1719659.html.

AeroVironment 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.

Want to see what other hedge funds are holding AVAV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AeroVironment, Inc. (NASDAQ:AVAV).

Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

Receive News & Ratings for AeroVironment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AeroVironment Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.