Timothy E. Conver Sells 7,600 Shares of AeroVironment, Inc. (AVAV) Stock
AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 7,600 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $54.00, for a total transaction of $410,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
AeroVironment, Inc. (AVAV) traded down 0.63% during mid-day trading on Friday, reaching $53.30. 195,850 shares of the company’s stock were exchanged. The company has a market capitalization of $1.24 billion, a P/E ratio of 62.78 and a beta of 1.29. AeroVironment, Inc. has a 52 week low of $22.16 and a 52 week high of $55.75. The company’s 50 day moving average price is $47.81 and its 200-day moving average price is $36.30.
AeroVironment (NASDAQ:AVAV) last announced its earnings results on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.15. AeroVironment had a return on equity of 5.40% and a net margin of 7.22%. The company had revenue of $43.80 million for the quarter, compared to analyst estimates of $42.44 million. During the same period in the prior year, the company posted ($0.51) EPS. AeroVironment’s quarterly revenue was up 21.0% on a year-over-year basis. On average, equities research analysts expect that AeroVironment, Inc. will post $0.61 earnings per share for the current fiscal year.
A number of research firms have weighed in on AVAV. Piper Jaffray Companies reissued a “neutral” rating and set a $36.00 price objective on shares of AeroVironment in a report on Thursday, August 31st. Jefferies Group LLC raised their price objective on shares of AeroVironment from $29.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, August 30th. TheStreet raised shares of AeroVironment from a “c-” rating to a “b” rating in a report on Tuesday, June 27th. Canaccord Genuity raised their price objective on shares of AeroVironment from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, August 30th. Finally, Robert W. Baird reissued a “hold” rating and set a $35.00 price objective on shares of AeroVironment in a report on Monday, August 28th. Six investment analysts have rated the stock with a hold rating, AeroVironment presently has a consensus rating of “Hold” and a consensus price target of $39.00.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Great West Life Assurance Co. Can raised its position in shares of AeroVironment by 6.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 28,480 shares of the aerospace company’s stock valued at $798,000 after acquiring an additional 1,815 shares in the last quarter. US Bancorp DE raised its position in shares of AeroVironment by 35.9% during the 1st quarter. US Bancorp DE now owns 14,657 shares of the aerospace company’s stock valued at $411,000 after acquiring an additional 3,869 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of AeroVironment by 3.1% during the 1st quarter. Bank of New York Mellon Corp now owns 971,839 shares of the aerospace company’s stock valued at $27,241,000 after acquiring an additional 29,354 shares in the last quarter. Comerica Bank raised its position in shares of AeroVironment by 3.7% during the 1st quarter. Comerica Bank now owns 22,708 shares of the aerospace company’s stock valued at $663,000 after acquiring an additional 817 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of AeroVironment during the 1st quarter valued at approximately $453,000. 77.55% of the stock is currently owned by institutional investors.
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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