Wellington Management Group LLP Sells 210,910 Shares of Aviat Networks, Inc. (NASDAQ:AVNW)

Wellington Management Group LLP reduced its position in Aviat Networks, Inc. (NASDAQ:AVNW - Free Report) by 57.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 154,278 shares of the communications equipment provider's stock after selling 210,910 shares during the period. Wellington Management Group LLP owned about 1.22% of Aviat Networks worth $3,337,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVNW. Royce & Associates LP raised its stake in Aviat Networks by 8.5% in the 3rd quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider's stock valued at $15,063,000 after acquiring an additional 54,339 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Aviat Networks by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 425,538 shares of the communications equipment provider's stock valued at $12,208,000 after purchasing an additional 7,968 shares during the last quarter. Select Equity Group L.P. raised its position in shares of Aviat Networks by 8.7% in the second quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider's stock valued at $10,907,000 after purchasing an additional 30,582 shares during the period. Hodges Capital Management Inc. lifted its stake in shares of Aviat Networks by 80.8% during the 2nd quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider's stock worth $10,487,000 after buying an additional 163,365 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Aviat Networks by 1.6% during the 3rd quarter. State Street Corp now owns 237,689 shares of the communications equipment provider's stock worth $5,141,000 after buying an additional 3,855 shares during the period. 78.62% of the stock is currently owned by institutional investors.

Insider Transactions at Aviat Networks

In related news, CEO Pete A. Smith purchased 3,000 shares of Aviat Networks stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $14.13 per share, for a total transaction of $42,390.00. Following the purchase, the chief executive officer now owns 298,539 shares in the company, valued at approximately $4,218,356.07. This trade represents a 1.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Connaway purchased 3,500 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average cost of $14.13 per share, for a total transaction of $49,455.00. Following the completion of the acquisition, the chief financial officer now directly owns 57,893 shares in the company, valued at $818,028.09. The trade was a 6.43 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 7,400 shares of company stock valued at $106,110. Company insiders own 4.10% of the company's stock.

Aviat Networks Price Performance

Shares of AVNW stock traded up $0.14 during trading on Wednesday, hitting $17.53. The company had a trading volume of 59,144 shares, compared to its average volume of 131,134. The firm has a market capitalization of $222.46 million, a P/E ratio of -56.10 and a beta of 1.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.72. The stock's 50-day moving average price is $18.19 and its 200 day moving average price is $23.87. Aviat Networks, Inc. has a one year low of $12.95 and a one year high of $38.85.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last issued its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. The company had revenue of $116.66 million for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. Equities analysts expect that Aviat Networks, Inc. will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AVNW has been the topic of several research analyst reports. B. Riley lowered their price target on shares of Aviat Networks from $55.00 to $42.00 and set a "buy" rating on the stock in a report on Friday, September 13th. Roth Mkm lowered their target price on Aviat Networks from $43.00 to $39.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. JMP Securities restated a "market outperform" rating and issued a $50.00 price target on shares of Aviat Networks in a research note on Tuesday, October 8th. StockNews.com lowered Aviat Networks from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Finally, Northland Securities dropped their target price on Aviat Networks from $40.00 to $35.00 and set an "outperform" rating for the company in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.60.

Aviat Networks Company Profile

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.