Franklin Resources Inc. Lowers Stock Holdings in AeroVironment, Inc. $AVAV

Franklin Resources Inc. cut its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 43.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,190 shares of the aerospace company’s stock after selling 3,960 shares during the period. Franklin Resources Inc.’s holdings in AeroVironment were worth $1,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE lifted its position in shares of AeroVironment by 13.5% during the 2nd quarter. US Bancorp DE now owns 8,068 shares of the aerospace company’s stock worth $2,299,000 after purchasing an additional 961 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in AeroVironment in the second quarter valued at $273,000. Twin Tree Management LP purchased a new stake in AeroVironment during the 2nd quarter worth about $697,000. Semanteon Capital Management LP acquired a new position in shares of AeroVironment during the 2nd quarter worth about $874,000. Finally, Emerald Mutual Fund Advisers Trust increased its holdings in shares of AeroVironment by 8.2% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 141,826 shares of the aerospace company’s stock valued at $40,413,000 after acquiring an additional 10,750 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Stock Up 5.8%

AVAV opened at $287.45 on Friday. AeroVironment, Inc. has a 52 week low of $102.25 and a 52 week high of $417.86. The business has a 50 day moving average price of $336.18 and a two-hundred day moving average price of $270.29. The company has a quick ratio of 5.12, a current ratio of 5.96 and a debt-to-equity ratio of 0.16. The company has a market cap of $14.35 billion, a PE ratio of -449.13, a P/E/G ratio of 3.84 and a beta of 1.13.

AeroVironment (NASDAQ:AVAV) last announced its earnings results on Monday, August 28th. The aerospace company reported $0.12 earnings per share for the quarter. AeroVironment had a positive return on equity of 4.67% and a negative net margin of 4.14%.The company had revenue of $132.62 million for the quarter. As a group, research analysts anticipate that AeroVironment, Inc. will post 3.38 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BNP Paribas upgraded AeroVironment to a “strong-buy” rating in a research note on Tuesday, November 18th. Bank of America initiated coverage on shares of AeroVironment in a research report on Thursday, September 18th. They set a “buy” rating and a $300.00 price objective for the company. Citigroup reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Friday, October 3rd. BNP Paribas Exane began coverage on shares of AeroVironment in a research note on Tuesday, November 18th. They set an “outperform” rating and a $355.00 price target on the stock. Finally, Raymond James Financial boosted their price target on shares of AeroVironment from $300.00 to $348.00 and gave the company a “strong-buy” rating in a research report on Monday, September 29th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $358.19.

Insiders Place Their Bets

In related news, insider Trace E. Stevenson sold 1,717 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $381.00, for a total transaction of $654,177.00. Following the completion of the transaction, the insider directly owned 4,907 shares of the company’s stock, valued at $1,869,567. This represents a 25.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin Patrick Mcdonnell sold 998 shares of AeroVironment stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $399.74, for a total value of $398,940.52. Following the completion of the sale, the chief financial officer directly owned 19,324 shares in the company, valued at $7,724,575.76. This represents a 4.91% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 3,228 shares of company stock valued at $1,223,157. 0.81% of the stock is owned by insiders.

AeroVironment 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.