PNC Financial Services Group Inc. raised its position in AeroVironment, Inc. (NASDAQ:AVAV) by 0.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,860 shares of the aerospace company’s stock after buying an additional 38 shares during the period. PNC Financial Services Group Inc.’s holdings in AeroVironment were worth $136,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. FMR LLC bought a new stake in shares of AeroVironment during the fourth quarter worth $3,652,000. AQR Capital Management LLC acquired a new stake in AeroVironment during the fourth quarter valued at approximately $208,000. Comerica Bank raised its stake in AeroVironment by 3.7% in the first quarter. Comerica Bank now owns 22,708 shares of the aerospace company’s stock valued at $663,000 after buying an additional 817 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in AeroVironment during the first quarter valued at approximately $1,309,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in AeroVironment by 0.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,729 shares of the aerospace company’s stock valued at $368,000 after buying an additional 48 shares in the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.
AeroVironment, Inc. (NASDAQ AVAV) traded up 0.29% during trading on Friday, hitting $37.47. 96,924 shares of the company traded hands. The company’s 50-day moving average is $38.28 and its 200 day moving average is $31.22. AeroVironment, Inc. has a 52-week low of $22.16 and a 52-week high of $40.10. The firm has a market cap of $871.81 million, a price-to-earnings ratio of 69.39 and a beta of 1.31.
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Several equities research analysts have recently commented on the stock. BidaskClub lowered shares of AeroVironment from a “buy” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity reaffirmed a “hold” rating and issued a $35.00 price objective on shares of AeroVironment in a research report on Thursday, August 10th. Jefferies Group LLC lifted their price objective 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. ValuEngine raised shares of AeroVironment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, 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 research report on Friday, June 30th. Eight equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $33.00.
In other news, Chairman Timothy E. Conver sold 32,800 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $39.17, for a total transaction of $1,284,776.00. Following the completion of the sale, the chairman now directly owns 69,500 shares of the company’s stock, valued at $2,722,315. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Timothy E. Conver sold 4,000 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $31.74, for a total value of $126,960.00. Following the completion of the sale, the chairman now directly owns 66,621 shares of the company’s stock, valued at $2,114,550.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,897 shares of company stock valued at $2,737,757. 12.50% of the stock is currently owned by company insiders.
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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