Franklin Resources Inc. Raises Stock Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Franklin Resources Inc. raised its position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 299.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,821 shares of the aerospace company's stock after purchasing an additional 3,614 shares during the quarter. Franklin Resources Inc.'s holdings in AeroVironment were worth $1,037,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of AeroVironment by 29.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 27,259 shares of the aerospace company's stock worth $4,965,000 after purchasing an additional 6,219 shares during the last quarter. International Assets Investment Management LLC bought a new stake in AeroVironment in the 2nd quarter worth about $243,000. Rothschild Investment LLC purchased a new position in AeroVironment in the 2nd quarter worth about $330,000. Commonwealth Equity Services LLC lifted its stake in AeroVironment by 1.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,609 shares of the aerospace company's stock valued at $840,000 after acquiring an additional 66 shares during the period. Finally, Van ECK Associates Corp lifted its stake in AeroVironment by 83.6% during the 2nd quarter. Van ECK Associates Corp now owns 112,913 shares of the aerospace company's stock valued at $20,568,000 after acquiring an additional 51,428 shares during the period. 86.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVAV has been the subject of several research reports. William Blair reissued an "outperform" rating on shares of AeroVironment in a report on Thursday, December 5th. BTIG Research reiterated a "buy" rating and set a $245.00 target price on shares of AeroVironment in a research note on Tuesday, September 17th. Jefferies Financial Group raised AeroVironment from a "hold" rating to a "buy" rating and lowered their price target for the company from $240.00 to $230.00 in a report on Wednesday, November 20th. Raymond James lowered AeroVironment from an "outperform" rating to a "market perform" rating in a report on Monday, September 16th. Finally, Royal Bank of Canada reduced their price objective on AeroVironment from $230.00 to $215.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $225.20.

AeroVironment Stock Performance

Shares of NASDAQ:AVAV traded down $3.84 during midday trading on Friday, hitting $157.66. The company had a trading volume of 345,640 shares, compared to its average volume of 372,559. AeroVironment, Inc. has a 12-month low of $116.51 and a 12-month high of $236.60. The company has a fifty day moving average of $192.36 and a two-hundred day moving average of $189.51. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 90.61 and a beta of 0.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36.

AeroVironment (NASDAQ:AVAV - Get Free Report) last released its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.29). AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. The company had revenue of $188.46 million for the quarter, compared to the consensus estimate of $181.80 million. During the same period in the prior year, the firm posted $0.97 EPS. The business's revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts expect that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Insider Activity at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 508 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $216.65, for a total value of $110,058.20. Following the transaction, the chief financial officer now directly owns 16,868 shares of the company's stock, valued at approximately $3,654,452.20. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 1,782 shares of company stock worth $373,609. 1.27% of the stock is owned by corporate insiders.

AeroVironment Company 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.