AeroVironment, Inc. (AVAV) Stake Increased by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. raised its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,396 shares of the aerospace company’s stock after buying an additional 7,063 shares during the period. Schwab Charles Investment Management Inc. owned 0.42% of AeroVironment worth $3,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Trexquant Investment LP bought a new position in shares of AeroVironment in the 2nd quarter valued at about $455,000. Global X Management Co. LLC grew its position in shares of AeroVironment by 238.4% in the 2nd quarter. Global X Management Co. LLC now owns 43,780 shares of the aerospace company’s stock valued at $1,672,000 after acquiring an additional 30,844 shares during the period. 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 acquiring an additional 61 shares during the period. Essex Investment Management Co. LLC grew its position in shares of AeroVironment by 30.3% in the 2nd quarter. Essex Investment Management Co. LLC now owns 60,842 shares of the aerospace company’s stock valued at $2,324,000 after acquiring an additional 14,159 shares during the period. Finally, Texas Permanent School Fund boosted its holdings in shares of AeroVironment by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 15,070 shares of the aerospace company’s stock worth $576,000 after buying an additional 168 shares during the period. 77.62% of the stock is owned by institutional investors.

In related news, Chairman Timothy E. Conver sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $53.91, for a total transaction of $107,820.00. Following the sale, the chairman now owns 58,138 shares of the company’s stock, valued at $3,134,219.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Timothy E. Conver sold 7,600 shares of the firm’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $51.12, for a total value of $388,512.00. Following the sale, the chairman now directly owns 58,138 shares in the company, valued at approximately $2,972,014.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,600 shares of company stock worth $2,260,596. Insiders own 11.00% of the company’s stock.

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AeroVironment, Inc. (NASDAQ AVAV) opened at 51.65 on Friday. The firm has a 50-day moving average of $52.04 and a 200 day moving average of $38.92. The firm has a market capitalization of $1.21 billion, a PE ratio of 60.84 and a beta of 1.29. AeroVironment, Inc. has a 12 month low of $23.30 and a 12 month high of $55.75.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Tuesday, August 29th. The aerospace company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.15. AeroVironment had a return on equity of 5.40% and a net margin of 7.22%. The company had revenue of $43.80 million for the quarter, compared to analyst estimates of $42.44 million. During the same quarter in the prior year, the firm posted ($0.51) EPS. AeroVironment’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities research analysts forecast that AeroVironment, Inc. will post $0.61 earnings per share for the current year.

A number of analysts have issued reports on the stock. Robert W. Baird reissued a “hold” rating and issued a $35.00 price objective on shares of AeroVironment in a report on Tuesday. Canaccord Genuity boosted their target price 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. Piper Jaffray Companies restated a “neutral” rating and issued a $36.00 target price on shares of AeroVironment in a research report on Thursday, August 31st. 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 research report on Wednesday, August 30th. Finally, BidaskClub cut shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Six equities research analysts have rated the stock with a hold rating, AeroVironment presently has a consensus rating of “Hold” and an average target price of $39.00.

AeroVironment Company 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.

Institutional Ownership by Quarter for AeroVironment (NASDAQ:AVAV)

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