The Municipal Employees Retirement System of Michigan Continues to Hold Stake in AeroVironment, Inc. (AVAV)

The Municipal Employees Retirement System of Michigan Continues to Hold Stake in AeroVironment, Inc. (AVAV)

A number of other hedge funds also recently made changes to their positions in the stock. Vident Investment Advisory LLC boosted its stake in shares of AeroVironment by 175.1% in the first quarter. Vident Investment Advisory LLC now owns 260,720 shares of the aerospace company’s stock valued at $7,308,000 after buying an additional 165,946 shares during the period. Neuberger Berman Group LLC boosted its stake in AeroVironment by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 1,032,878 shares of the aerospace company’s stock worth $28,952,000 after buying an additional 11,149 shares during the last quarter. Arizona State Retirement System boosted its stake in 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 during the last quarter. Isthmus Partners LLC boosted its stake in AeroVironment by 3.3% in the first quarter. Isthmus Partners LLC now owns 23,994 shares of the aerospace company’s stock worth $673,000 after buying an additional 776 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in AeroVironment by 0.4% in the first quarter. Prudential Financial Inc. now owns 35,350 shares of the aerospace company’s stock worth $991,000 after buying an additional 154 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Municipal Employees Retirement System of Michigan continued to hold its position in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,700 shares of the aerospace company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in AeroVironment were worth $132,000 as of its most recent SEC filing.

Shares of AeroVironment, Inc. (NASDAQ AVAV) traded down 0.27% on Wednesday, hitting $37.15. The stock had a trading volume of 271,984 shares. AeroVironment, Inc. has a one year low of $22.16 and a one year high of $40.10. The company’s 50 day moving average is $36.07 and its 200 day moving average is $30.18. The stock has a market cap of $864.37 million, a PE ratio of 68.80 and a beta of 1.31.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, June 27th. The aerospace company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.31. AeroVironment had a net margin of 4.71% and a return on equity of 3.49%. The business had revenue of $125.40 million for the quarter, compared to the consensus estimate of $122.90 million. During the same period in the previous year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. Equities research analysts predict that AeroVironment, Inc. will post $0.54 EPS for the current fiscal year.

A number of brokerages recently issued reports on AVAV. Canaccord Genuity reiterated a “hold” rating and set a $29.00 price objective on shares of AeroVironment in a research note on Friday, April 7th. ValuEngine upgraded AeroVironment from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Piper Jaffray Companies cut AeroVironment from an “overweight” rating to a “neutral” rating and raised their target price for the company from $30.00 to $35.00 in a research report on Monday, July 3rd. BidaskClub cut AeroVironment from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Jefferies Group LLC restated a “hold” rating and set a $27.00 target price on shares of AeroVironment in a research report on Tuesday, April 18th. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. AeroVironment presently has an average rating of “Hold” and a consensus target price of $31.80.

In other news, Chairman Timothy E. Conver sold 7,600 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $38.19, for a total transaction of $290,244.00. Following the sale, the chairman now owns 58,138 shares in the company, valued at $2,220,290.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Timothy E. Conver sold 3,800 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $38.14, for a total transaction of $144,932.00. Following the sale, the chairman now owns 58,138 shares in the company, valued at approximately $2,217,383.32. The disclosure for this sale can be found here. Insiders sold a total of 84,297 shares of company stock worth $3,051,833 over the last quarter. Insiders own 12.50% of the company’s stock.

AeroVironment Company 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.

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