Principal Financial Group Inc. Sells 7,929 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Principal Financial Group Inc. cut its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,545 shares of the aerospace company's stock after selling 7,929 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of AeroVironment worth $26,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Security National Bank bought a new stake in AeroVironment during the 3rd quarter valued at $31,000. Canada Pension Plan Investment Board acquired a new position in shares of AeroVironment during the second quarter valued at $36,000. Truvestments Capital LLC bought a new stake in shares of AeroVironment during the third quarter valued at about $62,000. Avior Wealth Management LLC lifted its holdings in AeroVironment by 51.0% in the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company's stock worth $79,000 after purchasing an additional 133 shares during the period. Finally, Arcadia Investment Management Corp MI grew its position in AeroVironment by 23.1% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company's stock valued at $80,000 after buying an additional 75 shares in the last quarter. 86.38% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Kevin Patrick Mcdonnell sold 508 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $216.65, for a total value of $110,058.20. Following the completion of the sale, the chief financial officer now directly owns 16,868 shares in the company, valued at approximately $3,654,452.20. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 1,782 shares of company stock worth $373,609 in the last three months. 1.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AVAV has been the topic of a number of recent analyst reports. BTIG Research restated a "buy" rating and set a $245.00 price target on shares of AeroVironment in a research report on Tuesday, September 17th. Royal Bank of Canada cut their target price on AeroVironment from $230.00 to $215.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th. Baird R W upgraded AeroVironment from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 28th. Jefferies Financial Group raised shares of AeroVironment from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $240.00 to $230.00 in a research note on Wednesday, November 20th. Finally, Robert W. Baird raised shares of AeroVironment from a "neutral" rating to an "outperform" rating and increased their target price for the company from $161.00 to $220.00 in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $225.20.

AeroVironment Stock Down 0.7 %

AVAV stock traded down $1.08 during midday trading on Wednesday, reaching $160.12. The company had a trading volume of 164,252 shares, compared to its average volume of 373,084. The company has a 50 day moving average of $194.63 and a two-hundred day moving average of $190.19. 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 1 year low of $116.51 and a 1 year high of $236.60. The company has a market capitalization of $4.52 billion, a P/E ratio of 92.02 and a beta of 0.45.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its quarterly earnings data on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.29). AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The firm had revenue of $188.46 million for the quarter, compared to analysts' expectations of $181.80 million. During the same quarter in the prior year, the business posted $0.97 earnings per share. AeroVironment's revenue was up 4.2% on a year-over-year basis. On average, equities research analysts expect that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal 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.