Public Sector Pension Investment Board Decreases Stock Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Public Sector Pension Investment Board trimmed its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,438 shares of the aerospace company’s stock after selling 2,100 shares during the quarter. Public Sector Pension Investment Board’s holdings in AeroVironment were worth $11,917,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Radnor Capital Management LLC lifted its stake in AeroVironment by 1.0% in the 3rd quarter. Radnor Capital Management LLC now owns 5,965 shares of the aerospace company’s stock worth $1,196,000 after purchasing an additional 60 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in AeroVironment by 1.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,609 shares of the aerospace company’s stock worth $840,000 after purchasing an additional 66 shares in the last quarter. Arcadia Investment Management Corp MI lifted its stake in AeroVironment by 23.1% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock worth $80,000 after purchasing an additional 75 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in AeroVironment by 7.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,434 shares of the aerospace company’s stock worth $288,000 after purchasing an additional 96 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in AeroVironment by 51.0% in the 3rd quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock worth $79,000 after purchasing an additional 133 shares in the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.

AeroVironment Stock Performance

NASDAQ:AVAV opened at $190.87 on Friday. The company has a fifty day simple moving average of $208.44 and a two-hundred day simple moving average of $194.25. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 89.61 and a beta of 0.49. The company has a quick ratio of 3.04, a current ratio of 4.26 and a debt-to-equity ratio of 0.01. AeroVironment, Inc. has a 52 week low of $116.51 and a 52 week high of $236.60.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.61 by $0.28. The business had revenue of $189.48 million during the quarter, compared to the consensus estimate of $183.18 million. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. As a group, equities analysts anticipate that AeroVironment, Inc. will post 3.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on AVAV shares. Alembic Global Advisors raised shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price target on the stock in a research report on Wednesday, August 28th. Royal Bank of Canada cut their target price on AeroVironment from $230.00 to $215.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. BTIG Research reissued a “buy” rating and issued a $245.00 target price on shares of AeroVironment in a research report on Tuesday, September 17th. Baird R W raised AeroVironment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Robert W. Baird raised AeroVironment from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $161.00 to $220.00 in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $211.83.

Insider Buying and Selling

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $196.22, for a total transaction of $77,703.12. Following the completion of the transaction, the chief financial officer now owns 18,254 shares in the company, valued at approximately $3,581,799.88. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 1,782 shares of company stock worth $372,615. Corporate insiders own 1.27% of the company’s stock.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.