AeroVironment, Inc. (NASDAQ:AVAV) Position Increased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654,024 shares of the aerospace company's stock after acquiring an additional 19,835 shares during the period. Geode Capital Management LLC owned 2.32% of AeroVironment worth $100,670,000 at the end of the most recent reporting period.

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

Remove Ads

Analyst Upgrades and Downgrades

AVAV has been the topic of several research reports. Robert W. Baird dropped 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. Jefferies Financial Group reduced their price objective on AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. William Blair reaffirmed an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. Finally, Raymond James upgraded shares of AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price target for the company in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, AeroVironment has a consensus rating of "Buy" and a consensus target price of $202.00.

Insider Activity

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at approximately $14,765,306.80. This trade represents a 20.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.27% of the company's stock.

AeroVironment Price Performance

AVAV stock traded down $1.98 during trading on Tuesday, hitting $140.82. The company had a trading volume of 74,378 shares, compared to its average volume of 409,705. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 81.19 and a beta of 0.74. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $139.40 and a 200 day moving average of $171.13. AeroVironment, Inc. has a fifty-two week low of $102.25 and a fifty-two 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.