Sumitomo Mitsui Trust Group Inc. Sells 35,991 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Sumitomo Mitsui Trust Group Inc. lowered its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 189,958 shares of the aerospace company’s stock after selling 35,991 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.67% of AeroVironment worth $29,233,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Ritholtz Wealth Management bought a new position in AeroVironment during the 3rd quarter worth approximately $248,000. Exchange Traded Concepts LLC grew its position in AeroVironment by 4.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,065 shares of the aerospace company’s stock valued at $815,000 after purchasing an additional 162 shares during the period. NBC Securities Inc. grew its position in AeroVironment by 47.4% in the 3rd quarter. NBC Securities Inc. now owns 432 shares of the aerospace company’s stock valued at $86,000 after purchasing an additional 139 shares during the period. Magnus Financial Group LLC boosted its holdings in AeroVironment by 47.7% during the 3rd quarter. Magnus Financial Group LLC now owns 2,633 shares of the aerospace company’s stock worth $528,000 after acquiring an additional 850 shares during the last quarter. Finally, Asset Dedication LLC purchased a new position in AeroVironment during the 3rd quarter worth $241,000. Institutional investors own 86.38% of the company’s stock.

AeroVironment Stock Down 1.5 %

NASDAQ AVAV opened at $179.35 on Wednesday. The stock’s 50 day moving average is $167.42 and its 200 day moving average is $186.68. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. AeroVironment, Inc. has a 12 month low of $121.38 and a 12 month high of $236.60. The stock has a market cap of $5.06 billion, a PE ratio of 103.07 and a beta of 0.52.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Wednesday, December 4th. The aerospace company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.29). The business had revenue of $188.46 million during the quarter, compared to the consensus estimate of $181.80 million. AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.97 EPS. Research analysts predict that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on AVAV. Jefferies Financial Group upgraded AeroVironment from a “hold” rating to a “buy” rating and lowered their target price for the stock from $240.00 to $230.00 in a research note on Wednesday, November 20th. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $225.20.

Insider Activity

In other news, CFO Kevin Patrick Mcdonnell sold 396 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $198.73, for a total value of $78,697.08. Following the transaction, the chief financial officer now owns 16,472 shares in the company, valued at $3,273,480.56. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.27% of the company’s stock.

AeroVironment 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.