Argent Capital Management LLC Increases Position in AeroVironment, Inc. (AVAV)

Argent Capital Management LLC increased its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 18.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,145 shares of the aerospace company’s stock after purchasing an additional 6,295 shares during the period. Argent Capital Management LLC owned 0.17% of AeroVironment worth $2,227,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in AVAV. Sei Investments Co. boosted its position in AeroVironment by 1.8% during the 2nd quarter. Sei Investments Co. now owns 3,450 shares of the aerospace company’s stock worth $132,000 after purchasing an additional 61 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in AeroVironment by 3.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,850 shares of the aerospace company’s stock worth $185,000 after purchasing an additional 150 shares during the period. PNC Financial Services Group Inc. boosted its position in AeroVironment by 1.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,916 shares of the aerospace company’s stock worth $187,000 after purchasing an additional 56 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in AeroVironment during the 3rd quarter worth $250,000. Finally, First Manhattan Co. purchased a new position in AeroVironment in the 3rd quarter valued at about $270,000. 74.79% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have weighed in on AVAV. Zacks Investment Research raised shares of AeroVironment from a “hold” rating to a “strong-buy” rating and set a $64.00 price objective for the company in a research report on Friday, December 8th. Canaccord Genuity upped their price objective on shares of AeroVironment from $40.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, October 4th. TheStreet raised shares of AeroVironment from a “c+” rating to a “b” rating in a research report on Friday, December 8th. Robert W. Baird reissued a “hold” rating and issued a $35.00 price objective on shares of AeroVironment in a research report on Tuesday, October 24th. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $36.00 price objective on shares of AeroVironment in a research report on Thursday, August 31st. Seven research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus price target of $44.00.

AeroVironment, Inc. (NASDAQ AVAV) opened at $54.06 on Wednesday. The firm has a market cap of $1,282.55, a PE ratio of 41.01, a price-to-earnings-growth ratio of 5.60 and a beta of 1.16. AeroVironment, Inc. has a 12-month low of $24.70 and a 12-month high of $58.23.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Tuesday, December 5th. The aerospace company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.30. The business had revenue of $73.83 million for the quarter, compared to analyst estimates of $63.53 million. AeroVironment had a net margin of 10.42% and a return on equity of 8.23%. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.18) EPS. analysts anticipate that AeroVironment, Inc. will post 0.64 EPS for the current year.

In other news, Chairman Timothy E. Conver sold 3,800 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $44.14, for a total value of $167,732.00. Following the sale, the chairman now owns 58,138 shares in the company, valued at approximately $2,566,211.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $51.47, for a total transaction of $391,172.00. Following the completion of the sale, the chairman now owns 58,138 shares in the company, valued at approximately $2,992,362.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,200 shares of company stock worth $1,806,496. Company insiders own 11.00% of the company’s stock.

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AeroVironment Profile

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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Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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