Sumitomo Mitsui Trust Holdings Inc. Sells 75,483 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 22.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 253,550 shares of the aerospace company’s stock after selling 75,483 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.90% of AeroVironment worth $46,187,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AVAV. Corient Private Wealth LLC lifted its stake in AeroVironment by 1.7% in the fourth quarter. Corient Private Wealth LLC now owns 4,882 shares of the aerospace company’s stock worth $615,000 after purchasing an additional 80 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of AeroVironment by 2.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,813 shares of the aerospace company’s stock valued at $481,000 after acquiring an additional 95 shares during the last quarter. Arcadia Investment Management Corp MI lifted its stake in shares of AeroVironment by 44.1% in the 4th quarter. Arcadia Investment Management Corp MI now owns 327 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 100 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in AeroVironment by 0.6% during the 1st quarter. New York State Teachers Retirement System now owns 17,667 shares of the aerospace company’s stock valued at $2,708,000 after acquiring an additional 100 shares during the period. Finally, North Star Investment Management Corp. grew its position in AeroVironment by 8.8% during the 1st quarter. North Star Investment Management Corp. now owns 1,268 shares of the aerospace company’s stock worth $194,000 after acquiring an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Trading Up 1.9 %

NASDAQ AVAV opened at $190.44 on Monday. The stock has a market cap of $5.36 billion, a P/E ratio of 85.78 and a beta of 0.51. AeroVironment, Inc. has a fifty-two week low of $91.25 and a fifty-two week high of $224.00. The stock has a 50 day simple moving average of $182.03 and a two-hundred day simple moving average of $166.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.52 and a current ratio of 3.56.

AeroVironment (NASDAQ:AVAV) last announced its earnings results on Wednesday, June 26th. The aerospace company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.21. The company had revenue of $197.00 million during the quarter, compared to the consensus estimate of $188.48 million. AeroVironment had a return on equity of 10.89% and a net margin of 8.32%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, analysts forecast that AeroVironment, Inc. will post 3.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. BTIG Research began coverage on AeroVironment in a research report on Wednesday, June 26th. They issued a “buy” rating and a $255.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of AeroVironment in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $175.20.

Insider Transactions at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 513 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $174.70, for a total transaction of $89,621.10. Following the transaction, the chief financial officer now owns 18,650 shares in the company, valued at $3,258,155. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Wahid Nawabi sold 9,867 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $169.23, for a total value of $1,669,792.41. Following the completion of the transaction, the chief executive officer now owns 99,892 shares in the company, valued at approximately $16,904,723.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin Patrick Mcdonnell sold 513 shares of AeroVironment stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $174.70, for a total value of $89,621.10. Following the sale, the chief financial officer now owns 18,650 shares in the company, valued at $3,258,155. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,891 shares of company stock valued at $1,850,601. Company insiders own 1.40% 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.