AeroVironment, Inc. (AVAV) Position Held by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System maintained its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,400 shares of the aerospace company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in AeroVironment were worth $321,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of AVAV. Mason Street Advisors LLC boosted its stake in shares of AeroVironment by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,813 shares of the aerospace company’s stock valued at $135,000 after buying an additional 316 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of AeroVironment by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the aerospace company’s stock valued at $136,000 after buying an additional 38 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of AeroVironment by 78.6% in 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 buying an additional 1,793 shares during the period. AQR Capital Management LLC acquired a new stake in shares of AeroVironment during the fourth quarter valued at approximately $208,000. Finally, Eqis Capital Management Inc. acquired a new stake in shares of AeroVironment during the first quarter valued at approximately $211,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AeroVironment, Inc. (AVAV) traded up 0.95% during midday trading on Wednesday, hitting $38.13. 31,440 shares of the stock were exchanged. The firm’s 50 day moving average is $38.03 and its 200-day moving average is $31.05. AeroVironment, Inc. has a 1-year low of $22.16 and a 1-year high of $40.10. The stock has a market capitalization of $887.17 million, a price-to-earnings ratio of 70.61 and a beta of 1.31.
AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Tuesday, June 27th. The aerospace company reported $1.30 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $122.90 million. During the same period in the previous year, the company earned $0.23 earnings per share. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, analysts predict that AeroVironment, Inc. will post $0.54 EPS for the current year.
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Several equities research analysts have commented on the stock. Jefferies Group LLC boosted their price target on shares of AeroVironment from $27.00 to $29.00 and gave the stock a “hold” rating in a research report on Wednesday, June 28th. TheStreet raised shares of AeroVironment from a “c-” rating to a “b” rating in a report on Tuesday, June 27th. Zacks Investment Research raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Friday, June 30th. Canaccord Genuity reaffirmed a “hold” rating and issued a $35.00 target price on shares of AeroVironment in a report on Thursday, August 10th. Finally, BidaskClub cut shares of AeroVironment from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.00.
In related news, Chairman Timothy E. Conver sold 7,600 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $38.49, for a total transaction of $292,524.00. Following the transaction, the chairman now directly owns 58,138 shares in the company, valued at $2,237,731.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Timothy E. Conver sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $31.74, for a total transaction of $126,960.00. Following the transaction, the chairman now owns 66,621 shares in the company, valued at $2,114,550.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,897 shares of company stock worth $3,344,357. 12.50% of the stock is owned by corporate insiders.
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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