Invesco Ltd. Sells 79,220 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Invesco Ltd. cut its stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,651 shares of the aerospace company's stock after selling 79,220 shares during the period. Invesco Ltd. owned approximately 1.35% of AeroVironment worth $58,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AVAV. Franklin Resources Inc. increased its position in shares of AeroVironment by 299.4% during the 3rd quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company's stock valued at $1,037,000 after purchasing an additional 3,614 shares during the period. Congress Asset Management Co. grew its holdings in AeroVironment by 10.9% during the fourth quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company's stock worth $51,275,000 after acquiring an additional 32,663 shares during the period. Cibc World Markets Corp acquired a new position in AeroVironment during the fourth quarter worth about $404,000. JPMorgan Chase & Co. raised its position in AeroVironment by 415.7% in the fourth quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company's stock worth $30,620,000 after acquiring an additional 160,390 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in AeroVironment by 63.0% in the 4th quarter. Fisher Asset Management LLC now owns 217,806 shares of the aerospace company's stock valued at $33,518,000 after acquiring an additional 84,170 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $128.20, for a total value of $3,764,721.20. Following the transaction, the chief executive officer now owns 115,174 shares in the company, valued at approximately $14,765,306.80. This represents a 20.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.27% of the company's stock.

AeroVironment Stock Up 2.6 %

Shares of AVAV traded up $3.80 during mid-day trading on Friday, reaching $147.61. The company's stock had a trading volume of 381,707 shares, compared to its average volume of 413,723. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 84.83 and a beta of 0.74. The business has a fifty day moving average of $136.63 and a 200 day moving average of $169.93. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02. AeroVironment, Inc. has a 1 year low of $102.25 and a 1 year high of $236.60.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AVAV shares. Robert W. Baird lowered their price objective on shares of AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. William Blair restated an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. Raymond James upgraded AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price objective for the company in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group decreased their target price on AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, AeroVironment currently has an average rating of "Buy" and a consensus price target of $202.00.

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.