State of New Jersey Common Pension Fund D Cuts Stake in AeroVironment, Inc. (NASDAQ:AVAV)

State of New Jersey Common Pension Fund D lessened its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 27.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,499 shares of the aerospace company’s stock after selling 7,149 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in AeroVironment were worth $2,332,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Raymond James & Associates lifted its stake in AeroVironment by 74.2% in the 3rd quarter. Raymond James & Associates now owns 82,399 shares of the aerospace company’s stock worth $9,190,000 after purchasing an additional 35,095 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of AeroVironment by 31.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 38,678 shares of the aerospace company’s stock worth $4,314,000 after buying an additional 9,216 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in AeroVironment by 18.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,232 shares of the aerospace company’s stock valued at $472,000 after buying an additional 658 shares during the last quarter. Strs Ohio purchased a new position in AeroVironment during the 3rd quarter valued at approximately $133,000. Finally, Emerald Advisers LLC increased its stake in AeroVironment by 10.9% in the 3rd quarter. Emerald Advisers LLC now owns 231,094 shares of the aerospace company’s stock worth $25,774,000 after acquiring an additional 22,769 shares during the last quarter. Institutional investors own 86.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AVAV shares. William Blair restated an “outperform” rating on shares of AeroVironment in a research report on Tuesday, March 5th. Royal Bank of Canada upped their target price on shares of AeroVironment from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $161.00 price target on shares of AeroVironment in a research report on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.20.

Insider Transactions at AeroVironment

In related news, SVP Melissa Ann Brown sold 1,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $176.77, for a total transaction of $176,770.00. Following the completion of the transaction, the senior vice president now owns 12,339 shares in the company, valued at approximately $2,181,165.03. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Trace E. Stevenson sold 1,913 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $183.00, for a total value of $350,079.00. Following the transaction, the vice president now owns 2,570 shares of the company’s stock, valued at approximately $470,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Melissa Ann Brown sold 1,000 shares of AeroVironment stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $176.77, for a total transaction of $176,770.00. Following the sale, the senior vice president now owns 12,339 shares of the company’s stock, valued at approximately $2,181,165.03. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

AeroVironment Trading Up 1.7 %

AVAV stock opened at $162.53 on Thursday. The firm’s fifty day simple moving average is $148.68 and its two-hundred day simple moving average is $132.98. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of -37.71 and a beta of 0.44. The company has a quick ratio of 3.16, a current ratio of 4.66 and a debt-to-equity ratio of 0.04. AeroVironment, Inc. has a twelve month low of $88.24 and a twelve month high of $184.61.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings results on Monday, March 4th. The aerospace company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.33 by $0.30. The company had revenue of $186.60 million for the quarter, compared to the consensus estimate of $170.62 million. AeroVironment had a negative net margin of 15.14% and a positive return on equity of 13.93%. The firm’s revenue was up 38.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. As a group, analysts anticipate that AeroVironment, Inc. will post 2.8 earnings per share for the current year.

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.