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New York State Common Retirement Fund Sells 9,005 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

AeroVironment logo with Aerospace background

New York State Common Retirement Fund lowered its position in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,592 shares of the aerospace company's stock after selling 9,005 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of AeroVironment worth $3,765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVAV. CoreCap Advisors LLC raised its stake in AeroVironment by 120.2% in the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock worth $28,000 after buying an additional 101 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in AeroVironment by 171.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company's stock worth $29,000 after buying an additional 154 shares in the last quarter. Colonial Trust Advisors bought a new position in AeroVironment in the fourth quarter worth approximately $31,000. Accredited Wealth Management LLC bought a new position in AeroVironment in the fourth quarter worth approximately $31,000. Finally, Spirit of America Management Corp NY bought a new position in AeroVironment in the first quarter worth approximately $36,000. Institutional investors own 86.38% of the company's stock.

Insider Activity

In related news, CEO Wahid Nawabi sold 17,300 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the completion of the sale, the chief executive officer directly owned 122,233 shares in the company, valued at approximately $32,153,390.65. The trade was a 12.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Robert W. Baird raised their target price on shares of AeroVironment from $146.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. KeyCorp assumed coverage on shares of AeroVironment in a research note on Sunday, June 29th. They issued an "overweight" rating for the company. Canaccord Genuity Group restated a "buy" rating on shares of AeroVironment in a research note on Thursday, June 26th. BTIG Research raised their target price on shares of AeroVironment from $225.00 to $300.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Jefferies Financial Group raised their target price on shares of AeroVironment from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $268.00.

Read Our Latest Analysis on AVAV

AeroVironment Stock Down 3.6%

AVAV stock opened at $262.48 on Wednesday. The firm's fifty day simple moving average is $207.55 and its 200-day simple moving average is $170.37. The company has a market capitalization of $12.95 billion, a P/E ratio of 169.34 and a beta of 0.96. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.52 and a quick ratio of 2.69. AeroVironment, Inc. has a 12 month low of $102.25 and a 12 month high of $295.90.

AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its earnings results on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.20. The firm had revenue of $275.05 million during the quarter, compared to analyst estimates of $242.69 million. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The business's quarterly revenue was up 39.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS. As a group, equities research analysts forecast that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

AeroVironment Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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