Oppenheimer & Co. Inc. Has $624,000 Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

Oppenheimer & Co. Inc. trimmed its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 66.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,054 shares of the aerospace company's stock after selling 8,084 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in AeroVironment were worth $624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AVAV. Illinois Municipal Retirement Fund grew its position in shares of AeroVironment by 17.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 18,822 shares of the aerospace company's stock valued at $2,897,000 after purchasing an additional 2,761 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in AeroVironment by 25.6% in the 4th quarter. Bank of New York Mellon Corp now owns 270,496 shares of the aerospace company's stock valued at $41,627,000 after purchasing an additional 55,142 shares during the period. Arcadia Investment Management Corp MI grew its holdings in AeroVironment by 64.3% in the 4th quarter. Arcadia Investment Management Corp MI now owns 657 shares of the aerospace company's stock valued at $101,000 after buying an additional 257 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in AeroVironment by 654.2% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 21,495 shares of the aerospace company's stock worth $3,308,000 after buying an additional 18,645 shares during the period. Finally, Truist Financial Corp acquired a new stake in shares of AeroVironment during the fourth quarter worth $776,000. 86.38% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Robert W. Baird decreased their price target 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. Jefferies Financial Group lowered their target price on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. Finally, William Blair reiterated an "outperform" rating on shares of AeroVironment in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, AeroVironment currently has a consensus rating of "Buy" and an average target price of $202.40.

AeroVironment Price Performance

AVAV stock traded down $8.98 during mid-day trading on Monday, hitting $123.35. The stock had a trading volume of 717,998 shares, compared to its average volume of 391,874. The firm has a fifty day simple moving average of $163.37 and a 200 day simple moving average of $183.22. The firm has a market capitalization of $3.48 billion, a P/E ratio of 70.89 and a beta of 0.42. 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 52 week low of $110.07 and a 52 week high of $236.60.

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.