Bank of New York Mellon Corp cut its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 20.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 770,177 shares of the aerospace company’s stock after selling 203,864 shares during the quarter. Bank of New York Mellon Corp owned 3.23% of AeroVironment worth $41,681,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in AVAV. Sei Investments Co. grew its position in shares of AeroVironment by 1.8% in the 2nd quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock valued at $132,000 after buying an additional 61 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of AeroVironment by 78.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,073 shares of the aerospace company’s stock valued at $155,000 after buying an additional 1,793 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of AeroVironment by 3.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock valued at $185,000 after buying an additional 150 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of AeroVironment by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the aerospace company’s stock valued at $187,000 after buying an additional 56 shares during the last quarter. Finally, First Manhattan Co. purchased a new position in shares of AeroVironment in the 3rd quarter valued at $270,000. Institutional investors own 74.04% of the company’s stock.
In other news, Chairman Timothy E. Conver sold 7,600 shares of AeroVironment stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $57.10, for a total transaction of $433,960.00. Following the completion of the sale, the chairman now directly owns 58,138 shares in the company, valued at $3,319,679.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Timothy E. Conver sold 3,800 shares of AeroVironment stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $44.14, for a total transaction of $167,732.00. Following the sale, the chairman now owns 58,138 shares of the company’s stock, valued at $2,566,211.32. The disclosure for this sale can be found here. Insiders have sold a total of 43,800 shares of company stock valued at $2,269,336 over the last 90 days. 11.00% of the stock is currently owned by insiders.
Shares of AeroVironment, Inc. (NASDAQ AVAV) traded down $1.22 during midday trading on Friday, hitting $56.16. 314,884 shares of the company traded hands, compared to its average volume of 679,738. AeroVironment, Inc. has a 12-month low of $24.70 and a 12-month high of $58.99. The firm has a market capitalization of $1,369.67, a PE ratio of 42.87, a price-to-earnings-growth ratio of 5.98 and a beta of 1.16.
AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Tuesday, December 5th. The aerospace company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.30. AeroVironment had a net margin of 10.42% and a return on equity of 8.23%. The firm had revenue of $73.83 million during the quarter, compared to analysts’ expectations of $63.53 million. During the same quarter last year, the business earned ($0.18) earnings per share. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. sell-side analysts predict that AeroVironment, Inc. will post 0.64 earnings per share for the current year.
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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.
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