AeroVironment, Inc. (NASDAQ:AVAV) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 25.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 270,496 shares of the aerospace company's stock after purchasing an additional 55,142 shares during the period. Bank of New York Mellon Corp owned 0.96% of AeroVironment worth $41,627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AVAV. Baillie Gifford & Co. boosted its position in AeroVironment by 9.4% during the fourth quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company's stock worth $328,598,000 after acquiring an additional 183,887 shares during the last quarter. State Street Corp boosted its holdings in shares of AeroVironment by 0.5% during the third quarter. State Street Corp now owns 1,582,871 shares of the aerospace company's stock worth $317,366,000 after purchasing an additional 7,471 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AeroVironment by 0.8% in the third quarter. Geode Capital Management LLC now owns 634,189 shares of the aerospace company's stock valued at $127,180,000 after purchasing an additional 4,948 shares during the period. Heard Capital LLC grew its position in shares of AeroVironment by 25.5% in the third quarter. Heard Capital LLC now owns 592,136 shares of the aerospace company's stock valued at $118,723,000 after purchasing an additional 120,447 shares during the period. Finally, Stephens Investment Management Group LLC increased its stake in AeroVironment by 40.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 541,541 shares of the aerospace company's stock valued at $83,338,000 after purchasing an additional 154,703 shares during the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

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AeroVironment Stock Down 6.8 %

Shares of NASDAQ AVAV traded down $8.98 during midday trading on Monday, reaching $123.35. 717,998 shares of the company's stock were exchanged, compared to its average volume of 391,874. AeroVironment, Inc. has a 52-week low of $110.07 and a 52-week high of $236.60. The business's fifty day moving average price is $163.37 and its two-hundred day moving average price is $183.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. The stock has a market capitalization of $3.48 billion, a PE ratio of 70.89 and a beta of 0.42.

Wall Street Analyst Weigh In

AVAV has been the topic of a number of research analyst reports. Jefferies Financial Group decreased their price target on AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. William Blair restated an "outperform" rating on shares of AeroVironment in a report on Wednesday, March 5th. Finally, Robert W. Baird dropped their price target on shares of AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $202.40.

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.