Pinebridge Investments L.P. cut its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,927 shares of the aerospace company’s stock after selling 1,817 shares during the quarter. Pinebridge Investments L.P. owned 0.13% of AeroVironment worth $1,675,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. 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 valued at $132,000 after acquiring an additional 61 shares in the last quarter. 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 valued at $155,000 after acquiring an additional 1,793 shares in the last quarter. 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 valued at $185,000 after acquiring an additional 150 shares in the last quarter. 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 valued at $187,000 after acquiring an additional 56 shares in the last quarter. Finally, First Manhattan Co. bought a new stake in shares of AeroVironment during the third quarter valued at approximately $270,000. 74.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AeroVironment, Inc. (NASDAQ AVAV) opened at $54.47 on Thursday. AeroVironment, Inc. has a 1-year low of $24.70 and a 1-year high of $58.23. The stock has a market capitalization of $1,031.09, a price-to-earnings ratio of 33.01, a P/E/G ratio of 4.71 and a beta of 1.16.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Tuesday, December 5th. The aerospace company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.30. AeroVironment had a return on equity of 8.34% and a net margin of 10.42%. The business had revenue of $73.83 million during the quarter, compared to the consensus estimate of $63.53 million. During the same quarter in the prior year, the company posted ($0.18) earnings per share. AeroVironment’s revenue was up 47.3% compared to the same quarter last year. equities analysts expect that AeroVironment, Inc. will post 0.61 earnings per share for the current fiscal year.

In other AeroVironment news, Chairman Timothy E. Conver sold 7,600 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $51.47, for a total value of $391,172.00. Following the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at $2,992,362.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Timothy E. Conver sold 2,000 shares of the business’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $53.91, for a total value of $107,820.00. Following the completion of the transaction, the chairman now directly owns 58,138 shares in the company, valued at approximately $3,134,219.58. The disclosure for this sale can be found here. Insiders have sold 43,800 shares of company stock valued at $2,179,960 in the last quarter. 11.00% of the stock is currently owned by corporate insiders.

Several research firms have recently commented on AVAV. Canaccord Genuity restated a “hold” rating and set a $35.00 price objective on shares of AeroVironment in a report on Thursday, August 10th. BidaskClub downgraded AeroVironment from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Robert W. Baird reiterated a “hold” rating and set a $35.00 price target on shares of AeroVironment in a report on Tuesday, October 24th. ValuEngine downgraded AeroVironment from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and set a $36.00 price target on shares of AeroVironment in a report on Thursday, August 31st. Seven analysts have rated the stock with a hold rating, AeroVironment currently has an average rating of “Hold” and a consensus price target of $39.00.

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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.

Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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