Principal Financial Group Inc. Boosts Stake in AeroVironment, Inc. (AVAV)

Principal Financial Group Inc. lifted its position in AeroVironment, Inc. (NASDAQ:AVAV) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,009 shares of the aerospace company’s stock after purchasing an additional 3,016 shares during the quarter. Principal Financial Group Inc. owned 0.69% of AeroVironment worth $8,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of AeroVironment by 3.6% in the 2nd quarter. BlackRock Inc. now owns 3,333,627 shares of the aerospace company’s stock worth $127,344,000 after purchasing an additional 116,654 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of AeroVironment by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,929,825 shares of the aerospace company’s stock worth $73,719,000 after purchasing an additional 68,232 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AeroVironment by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,490,349 shares of the aerospace company’s stock valued at $56,930,000 after acquiring an additional 44,670 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of AeroVironment in the 2nd quarter valued at about $39,724,000. Finally, State Street Corp lifted its stake in shares of AeroVironment by 7.6% in the 2nd quarter. State Street Corp now owns 669,665 shares of the aerospace company’s stock valued at $25,580,000 after acquiring an additional 47,582 shares during the last quarter. Hedge funds and other institutional investors own 74.65% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity reissued a “hold” rating and issued a $35.00 target price on shares of AeroVironment in a research note on Thursday, August 10th. BidaskClub lowered AeroVironment from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Robert W. Baird reissued a “hold” rating and issued a $35.00 target price on shares of AeroVironment in a research note on Tuesday, October 24th. ValuEngine lowered AeroVironment from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $36.00 target price on shares of AeroVironment in a research note on Thursday, August 31st. Seven analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average target price of $39.00.

Shares of AeroVironment, Inc. (AVAV) opened at $43.25 on Wednesday. AeroVironment, Inc. has a 52 week low of $24.70 and a 52 week high of $55.75. The firm has a market capitalization of $1,030.00, a PE ratio of 53.24, a PEG ratio of 4.87 and a beta of 1.16.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Tuesday, December 5th. The aerospace company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.30. AeroVironment had a return on equity of 5.40% and a net margin of 7.22%. The company had revenue of $73.83 million during the quarter, compared to analyst estimates of $63.53 million. During the same quarter in the previous year, the company posted ($0.18) EPS. AeroVironment’s revenue for the quarter was up 47.3% on a year-over-year basis. equities analysts anticipate that AeroVironment, Inc. will post 0.61 earnings per share for the current year.

In other AeroVironment news, Chairman Timothy E. Conver sold 3,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $44.14, for a total transaction of $167,732.00. Following the completion of the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at approximately $2,566,211.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $44.85, for a total value of $340,860.00. Following the transaction, the chairman now directly owns 58,138 shares of the company’s stock, valued at approximately $2,607,489.30. The disclosure for this sale can be found here. In the last three months, insiders sold 43,800 shares of company stock valued at $2,179,960. 11.00% of the stock is currently owned by corporate insiders.

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AeroVironment 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.

Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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