Oppenheimer Asset Management Inc. Makes New Investment in AeroVironment, Inc. (NASDAQ:AVAV)

Oppenheimer Asset Management Inc. acquired a new position in AeroVironment, Inc. (NASDAQ:AVAV) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 850 shares of the aerospace company’s stock, valued at approximately $46,000.

A number of other hedge funds have also bought and sold shares of AVAV. Vanguard Group Inc. lifted its holdings in AeroVironment by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,222,367 shares of the aerospace company’s stock worth $182,934,000 after purchasing an additional 156,031 shares in the last quarter. Stephens Investment Management Group LLC increased its stake in AeroVironment by 123.2% in the 2nd quarter. Stephens Investment Management Group LLC now owns 274,184 shares of the aerospace company’s stock worth $15,565,000 after acquiring an additional 151,347 shares during the last quarter. Renaissance Technologies LLC increased its stake in AeroVironment by 85.6% in the 2nd quarter. Renaissance Technologies LLC now owns 296,336 shares of the aerospace company’s stock worth $16,823,000 after acquiring an additional 136,700 shares during the last quarter. Nuveen Asset Management LLC bought a new position in AeroVironment in the 2nd quarter worth about $5,013,000. Finally, Nikko Asset Management Americas Inc. increased its stake in AeroVironment by 18.9% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 542,167 shares of the aerospace company’s stock worth $29,038,000 after acquiring an additional 86,287 shares during the last quarter. 85.41% of the stock is currently owned by institutional investors and hedge funds.

In related news, Chairman Timothy E. Conver sold 6,896 shares of AeroVironment stock in a transaction on Monday, September 16th. The stock was sold at an average price of $63.10, for a total transaction of $435,137.60. Following the transaction, the chairman now directly owns 56,660 shares in the company, valued at $3,575,246. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Timothy E. Conver sold 13,792 shares of AeroVironment stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $52.53, for a total value of $724,493.76. Following the transaction, the chairman now owns 56,660 shares in the company, valued at $2,976,349.80. The disclosure for this sale can be found here. Insiders have sold 55,168 shares of company stock worth $3,126,371 over the last quarter. 10.50% of the stock is owned by company insiders.

AVAV has been the topic of a number of research analyst reports. Stifel Nicolaus restated a “hold” rating on shares of AeroVironment in a research note on Thursday, September 26th. Canaccord Genuity set a $80.00 target price on AeroVironment and gave the company a “buy” rating in a research note on Thursday, September 26th. Zacks Investment Research cut AeroVironment from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. William Blair restated a “buy” rating on shares of AeroVironment in a research note on Wednesday, August 21st. Finally, BidaskClub raised AeroVironment from a “hold” rating to a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. AeroVironment presently has a consensus rating of “Hold” and an average price target of $71.72.

AeroVironment stock opened at $62.10 on Friday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 37.12 and a beta of 1.15. The stock has a fifty day simple moving average of $57.28 and a two-hundred day simple moving average of $58.77. AeroVironment, Inc. has a 12 month low of $48.61 and a 12 month high of $100.78. The company has a current ratio of 10.56, a quick ratio of 9.26 and a debt-to-equity ratio of 0.02.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Wednesday, September 4th. The aerospace company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.39. The business had revenue of $86.91 million during the quarter, compared to analyst estimates of $85.25 million. AeroVironment had a return on equity of 8.55% and a net margin of 11.52%. On average, equities research analysts forecast that AeroVironment, Inc. will post 1.65 EPS for the current fiscal year.

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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