Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 21.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 455,880 shares of the aerospace company’s stock after purchasing an additional 79,456 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 1.90% of AeroVironment worth $25,880,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Amalgamated Bank bought a new stake in AeroVironment during the fourth quarter worth about $225,000. Norges Bank acquired a new position in AeroVironment during the fourth quarter worth about $12,704,000. Geode Capital Management LLC raised its stake in AeroVironment by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 237,914 shares of the aerospace company’s stock worth $16,166,000 after acquiring an additional 13,230 shares in the last quarter. LaFleur & Godfrey LLC raised its stake in AeroVironment by 16.5% during the first quarter. LaFleur & Godfrey LLC now owns 30,612 shares of the aerospace company’s stock worth $2,094,000 after acquiring an additional 4,325 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in AeroVironment by 7.7% during the first quarter. Oppenheimer & Co. Inc. now owns 7,874 shares of the aerospace company’s stock worth $539,000 after acquiring an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 84.36% of the company’s stock.

AVAV has been the subject of several research analyst reports. ValuEngine downgraded AeroVironment from a “buy” rating to a “hold” rating in a research note on Monday, June 17th. Robert W. Baird reissued a “neutral” rating and set a $65.00 target price (down previously from $83.00) on shares of AeroVironment in a research note on Wednesday, June 26th. William Blair reissued a “buy” rating on shares of AeroVironment in a research note on Monday, July 8th. Piper Jaffray Companies lowered their target price on AeroVironment from $79.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, June 4th. Finally, BidaskClub downgraded AeroVironment from a “sell” rating to a “strong sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $74.32.

AeroVironment stock opened at $50.87 on Wednesday. The firm has a 50 day moving average price of $54.69. AeroVironment, Inc. has a 1 year low of $50.15 and a 1 year high of $121.32. The firm has a market capitalization of $1.24 billion, a P/E ratio of 34.37, a P/E/G ratio of 1.37 and a beta of 1.11.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, June 25th. The aerospace company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $87.90 million during the quarter, compared to the consensus estimate of $82.57 million. AeroVironment had a net margin of 15.09% and a return on equity of 7.93%. The company’s revenue for the quarter was down 25.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. On average, analysts forecast that AeroVironment, Inc. will post 1.53 EPS for the current fiscal year.

In other AeroVironment news, Chairman Timothy E. Conver sold 13,792 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.35, for a total transaction of $873,723.20. Following the completion of the sale, the chairman now owns 55,659 shares of the company’s stock, valued at approximately $3,525,997.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Timothy E. Conver sold 6,896 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $50.93, for a total transaction of $351,213.28. Following the sale, the chairman now directly owns 56,660 shares of the company’s stock, valued at approximately $2,885,693.80. The disclosure for this sale can be found here. Insiders have sold a total of 76,156 shares of company stock valued at $4,484,489 in the last three months. Insiders own 11.70% of the company’s stock.

AeroVironment Profile

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.

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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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