AeroVironment, Inc. (NASDAQ:AVAV) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 63.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,898 shares of the aerospace company's stock after purchasing an additional 3,077 shares during the period. Franklin Resources Inc.'s holdings in AeroVironment were worth $1,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. HighTower Advisors LLC grew its position in shares of AeroVironment by 24.6% in the third quarter. HighTower Advisors LLC now owns 8,240 shares of the aerospace company's stock valued at $1,655,000 after purchasing an additional 1,629 shares during the period. Stifel Financial Corp increased its stake in AeroVironment by 93.8% during the 3rd quarter. Stifel Financial Corp now owns 11,030 shares of the aerospace company's stock worth $2,212,000 after buying an additional 5,339 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of AeroVironment by 85.0% during the third quarter. MML Investors Services LLC now owns 4,395 shares of the aerospace company's stock valued at $881,000 after acquiring an additional 2,019 shares during the last quarter. Barclays PLC lifted its position in shares of AeroVironment by 149.7% in the third quarter. Barclays PLC now owns 57,245 shares of the aerospace company's stock valued at $11,477,000 after acquiring an additional 34,318 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of AeroVironment by 0.8% during the third quarter. Geode Capital Management LLC now owns 634,189 shares of the aerospace company's stock worth $127,180,000 after purchasing an additional 4,948 shares in the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

AeroVironment Price Performance

Shares of NASDAQ:AVAV traded up $3.80 on Friday, reaching $147.61. 381,707 shares of the company were exchanged, compared to its average volume of 412,788. The company has a 50-day moving average of $137.26 and a 200-day moving average of $170.37. 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 firm has a market cap of $4.17 billion, a price-to-earnings ratio of 84.83 and a beta of 0.74. AeroVironment, Inc. has a 1-year low of $102.25 and a 1-year high of $236.60.

Wall Street Analysts Forecast Growth

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

Insider Activity

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

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.