AeroVironment, Inc. (AVAV) Position Cut by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. trimmed its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 39.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 816,672 shares of the aerospace company’s stock after selling 523,452 shares during the quarter. Goldman Sachs Group Inc. owned about 3.51% of AeroVironment worth $31,197,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in AVAV. Great West Life Assurance Co. Can grew its holdings in AeroVironment by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 28,480 shares of the aerospace company’s stock valued at $798,000 after purchasing an additional 1,815 shares during the period. Comerica Bank grew its holdings in AeroVironment by 3.7% in the first quarter. Comerica Bank now owns 22,708 shares of the aerospace company’s stock valued at $663,000 after purchasing an additional 817 shares during the period. Karp Capital Management Corp purchased a new stake in AeroVironment in the first quarter valued at approximately $453,000. Ameriprise Financial Inc. grew its holdings in AeroVironment by 4.8% in the first quarter. Ameriprise Financial Inc. now owns 107,565 shares of the aerospace company’s stock valued at $3,015,000 after purchasing an additional 4,933 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in AeroVironment by 9.5% in the first quarter. Parametric Portfolio Associates LLC now owns 23,879 shares of the aerospace company’s stock valued at $669,000 after purchasing an additional 2,078 shares during the period. Hedge funds and other institutional investors own 77.55% of the company’s stock.

WARNING: “AeroVironment, Inc. (AVAV) Position Cut by Goldman Sachs Group Inc.” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/11/aerovironment-inc-avav-position-cut-by-goldman-sachs-group-inc.html.

Shares of AeroVironment, Inc. (NASDAQ:AVAV) opened at 54.69 on Wednesday. The stock has a market capitalization of $1.28 billion, a P/E ratio of 64.42 and a beta of 1.29. AeroVironment, Inc. has a 1-year low of $22.16 and a 1-year high of $55.75. The firm’s 50-day moving average is $49.24 and its 200 day moving average is $37.01.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.15. The firm had revenue of $43.80 million for the quarter, compared to analyst estimates of $42.44 million. AeroVironment had a net margin of 7.22% and a return on equity of 5.40%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.51) earnings per share. On average, analysts expect that AeroVironment, Inc. will post $0.61 EPS for the current fiscal year.

In related news, Chairman Timothy E. Conver sold 7,600 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $38.19, for a total transaction of $290,244.00. Following the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at $2,220,290.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Timothy E. Conver sold 3,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $38.14, for a total transaction of $144,932.00. Following the transaction, the chairman now directly owns 58,138 shares in the company, valued at approximately $2,217,383.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,135 shares of company stock worth $2,336,344. Insiders own 11.00% of the company’s stock.

A number of equities research analysts recently issued reports on AVAV shares. TheStreet upgraded shares of AeroVironment from a “c-” rating to a “b” rating in a report on Tuesday, June 27th. BidaskClub downgraded shares of AeroVironment from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Canaccord Genuity boosted their target price on shares of AeroVironment from $35.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, August 30th. Jefferies Group LLC boosted their target price on shares of AeroVironment from $29.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, August 30th. Finally, Robert W. Baird restated a “hold” rating and issued a $35.00 target price on shares of AeroVironment in a report on Monday,

A number of other institutional investors also recently added to or reduced their stakes in AVAV. Great West Life Assurance Co. Can grew its holdings in AeroVironment by 6.8% in the first quarter. Great West Life Assurance Co. Can now owns 28,480 shares of the aerospace company’s stock valued at $798,000 after purchasing an additional 1,815 shares during the period. Comerica Bank grew its holdings in AeroVironment by 3.7% in the first quarter. Comerica Bank now owns 22,708 shares of the aerospace company’s stock valued at $663,000 after purchasing an additional 817 shares during the period. Karp Capital Management Corp purchased a new stake in AeroVironment in the first quarter valued at approximately $453,000. Ameriprise Financial Inc. grew its holdings in AeroVironment by 4.8% in the first quarter. Ameriprise Financial Inc. now owns 107,565 shares of the aerospace company’s stock valued at $3,015,000 after purchasing an additional 4,933 shares during the period. Finally, Parametric Portfolio Associates LLC grew its holdings in AeroVironment by 9.5% in the first quarter. Parametric Portfolio Associates LLC now owns 23,879 shares of the aerospace company’s stock valued at $669,000 after purchasing an additional 2,078 shares during the period. Hedge funds and other institutional investors own 77.55% of the company’s stock.

WARNING: “AeroVironment, Inc. (AVAV) Position Cut by Goldman Sachs Group Inc.” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/11/aerovironment-inc-avav-position-cut-by-goldman-sachs-group-inc.html.

Shares of AeroVironment, Inc. (NASDAQ:AVAV) opened at 54.69 on Wednesday. The stock has a market capitalization of $1.28 billion, a P/E ratio of 64.42 and a beta of 1.29. AeroVironment, Inc. has a 1-year low of $22.16 and a 1-year high of $55.75. The firm’s 50-day moving average is $49.24 and its 200 day moving average is $37.01.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.15. The firm had revenue of $43.80 million for the quarter, compared to analyst estimates of $42.44 million. AeroVironment had a net margin of 7.22% and a return on equity of 5.40%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.51) earnings per share. On average, analysts expect that AeroVironment, Inc. will post $0.61 EPS for the current fiscal year.

In related news, Chairman Timothy E. Conver sold 7,600 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $38.19, for a total transaction of $290,244.00. Following the transaction, the chairman now owns 58,138 shares of the company’s stock, valued at $2,220,290.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Timothy E. Conver sold 3,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $38.14, for a total transaction of $144,932.00. Following the transaction, the chairman now directly owns 58,138 shares in the company, valued at approximately $2,217,383.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,135 shares of company stock worth $2,336,344. Insiders own 11.00% of the company’s stock.

A number of equities research analysts recently issued reports on AVAV shares. TheStreet upgraded shares of AeroVironment from a “c-” rating to a “b” rating in a report on Tuesday, June 27th. BidaskClub downgraded shares of AeroVironment from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Canaccord Genuity boosted their target price on shares of AeroVironment from $35.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, August 30th. Jefferies Group LLC boosted their target price on shares of AeroVironment from $29.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, August 30th. Finally, Robert W. Baird restated a “hold” rating and issued a $35.00 target price on shares of AeroVironment in a report on Monday, August 28th. Six investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average target price of $39.00.

About AeroVironment

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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