Timothy E. Conver Sells 6,896 Shares of AeroVironment, Inc. (NASDAQ:AVAV) Stock

AeroVironment, Inc. (NASDAQ:AVAV) Chairman Timothy E. Conver sold 6,896 shares of AeroVironment stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $61.05, for a total value of $421,000.80. Following the completion of the transaction, the chairman now owns 56,032 shares in the company, valued at approximately $3,420,753.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NASDAQ:AVAV opened at $62.68 on Friday. AeroVironment, Inc. has a 1 year low of $48.61 and a 1 year high of $100.78. The company has a market cap of $1.47 billion, a PE ratio of 37.50 and a beta of 1.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.56 and a quick ratio of 9.26. The stock’s 50-day moving average is $57.40 and its 200 day moving average is $58.74.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.39. AeroVironment had a return on equity of 8.55% and a net margin of 11.52%. The company had revenue of $86.91 million for the quarter, compared to the consensus estimate of $85.25 million. Analysts expect that AeroVironment, Inc. will post 1.65 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in AVAV. Mason Street Advisors LLC grew its holdings in shares of AeroVironment by 3.1% during the 3rd quarter. Mason Street Advisors LLC now owns 7,328 shares of the aerospace company’s stock worth $392,000 after acquiring an additional 218 shares during the period. SG Americas Securities LLC grew its holdings in shares of AeroVironment by 7.1% during the 3rd quarter. SG Americas Securities LLC now owns 19,940 shares of the aerospace company’s stock worth $1,068,000 after acquiring an additional 1,317 shares during the period. First Trust Advisors LP grew its holdings in shares of AeroVironment by 15.3% during the 3rd quarter. First Trust Advisors LP now owns 23,752 shares of the aerospace company’s stock worth $1,272,000 after acquiring an additional 3,154 shares during the period. Tibra Equities Europe Ltd purchased a new position in shares of AeroVironment during the 3rd quarter worth approximately $584,000. Finally, Texas Permanent School Fund grew its holdings in shares of AeroVironment by 1.6% during the 3rd quarter. Texas Permanent School Fund now owns 14,690 shares of the aerospace company’s stock worth $787,000 after acquiring an additional 235 shares during the period. Institutional investors own 85.41% of the company’s stock.

Several research analysts have recently commented on the company. Piper Jaffray Companies upgraded AeroVironment from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $66.00 to $76.00 in a report on Wednesday, October 16th. Canaccord Genuity set a $80.00 price target on AeroVironment and gave the company a “buy” rating in a report on Thursday, September 26th. Zacks Investment Research downgraded AeroVironment from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Stifel Nicolaus restated a “hold” rating on shares of AeroVironment in a report on Thursday, September 26th. Finally, William Blair restated a “buy” rating on shares of AeroVironment in a report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. AeroVironment presently has a consensus rating of “Hold” and a consensus target price of $71.72.

About AeroVironment

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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