Sumitomo Mitsui Trust Holdings Inc. Sells 53,313 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,568 shares of the aerospace company’s stock after selling 53,313 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 1.35% of AeroVironment worth $47,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new position in shares of AeroVironment in the 2nd quarter valued at about $25,000. Rockefeller Capital Management L.P. raised its position in AeroVironment by 47.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 390 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 126 shares during the period. Harbour Investments Inc. bought a new stake in shares of AeroVironment in the 2nd quarter valued at approximately $43,000. Lazard Asset Management LLC purchased a new position in shares of AeroVironment in the 1st quarter worth approximately $47,000. Finally, RiverPark Advisors LLC increased its position in shares of AeroVironment by 77.2% during the 4th quarter. RiverPark Advisors LLC now owns 388 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 169 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Robert W. Baird restated a “neutral” rating and issued a $161.00 price target on shares of AeroVironment in a research report on Friday, March 8th. Royal Bank of Canada raised their target price on shares of AeroVironment from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research note on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.20.

Insider Activity

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

AeroVironment Stock Up 2.3 %

NASDAQ:AVAV opened at $150.02 on Friday. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -34.81 and a beta of 0.44. AeroVironment, Inc. has a twelve month low of $88.24 and a twelve month high of $184.61. The company has a current ratio of 4.66, a quick ratio of 3.16 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $144.19 and a 200-day simple moving average of $130.23.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Monday, March 4th. The aerospace company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.30. The company had revenue of $186.60 million during the quarter, compared to analyst estimates 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 for the quarter was up 38.8% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. Analysts anticipate that AeroVironment, Inc. will post 2.8 EPS 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.