AeroVironment, Inc. (NASDAQ:AVAV) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in AeroVironment, Inc. (NASDAQ:AVAV) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,422 shares of the aerospace company’s stock after selling 138 shares during the period. State of New Jersey Common Pension Fund D’s holdings in AeroVironment were worth $1,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AVAV. Modus Advisors LLC purchased a new position in shares of AeroVironment during the 4th quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new position in AeroVironment during the fourth quarter valued at $31,000. Wilmington Savings Fund Society FSB lifted its holdings in AeroVironment by 1,515.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 197 shares in the last quarter. Bogart Wealth LLC acquired a new stake in shares of AeroVironment in the fourth quarter valued at about $38,000. Finally, Blue Trust Inc. lifted its stake in AeroVironment by 2,950.0% in the 4th quarter. Blue Trust Inc. now owns 305 shares of the aerospace company’s stock valued at $47,000 after buying an additional 295 shares in the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 396 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $198.73, for a total value of $78,697.08. Following the sale, the chief financial officer now directly owns 16,472 shares in the company, valued at approximately $3,273,480.56. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on AVAV shares. William Blair reiterated an “outperform” rating on shares of AeroVironment in a report on Thursday, December 5th. Jefferies Financial Group upgraded AeroVironment from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $240.00 to $230.00 in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $225.20.

AeroVironment Stock Performance

AeroVironment stock opened at $151.60 on Wednesday. The stock has a fifty day moving average price of $166.16 and a 200 day moving average price of $185.64. AeroVironment, Inc. has a 52 week low of $121.74 and a 52 week high of $236.60. The firm has a market capitalization of $4.28 billion, a P/E ratio of 87.12 and a beta of 0.52. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.29). The business had revenue of $188.46 million for the quarter, compared to analysts’ expectations of $181.80 million. AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company posted $0.97 earnings per share. Equities research analysts anticipate that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

About AeroVironment

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.