Legal & General Group Plc reduced its position in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,176 shares of the aerospace company's stock after selling 2,250 shares during the period. Legal & General Group Plc owned 0.29% of AeroVironment worth $12,800,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. boosted its stake 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 acquiring an additional 3,614 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of AeroVironment by 10.9% during the 4th quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company's stock valued at $51,275,000 after purchasing an additional 32,663 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of AeroVironment during the 4th quarter valued at $404,000. JPMorgan Chase & Co. boosted its position in shares of AeroVironment by 415.7% in the 4th quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company's stock worth $30,620,000 after purchasing an additional 160,390 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in AeroVironment by 63.0% during the 4th quarter. Fisher Asset Management LLC now owns 217,806 shares of the aerospace company's stock worth $33,518,000 after buying an additional 84,170 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Jefferies Financial Group decreased their price target on AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a research note 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 objective for the company in a research report on Tuesday, April 8th. William Blair reiterated an "outperform" rating on shares of AeroVironment in a research note on Wednesday, March 5th. Finally, Robert W. Baird cut 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. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, AeroVironment presently has an average rating of "Buy" and a consensus target price of $202.00.
Check Out Our Latest Research Report on AeroVironment
Insider Transactions at AeroVironment
In related news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction that occurred 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 in the company, valued at approximately $14,765,306.80. This trade represents a 20.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.27% of the company's stock.
AeroVironment Stock Performance
NASDAQ:AVAV traded up $5.98 during midday trading on Tuesday, hitting $150.18. The company's stock had a trading volume of 420,399 shares, compared to its average volume of 413,966. 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, Inc. has a fifty-two week low of $102.25 and a fifty-two week high of $236.60. The firm's 50 day moving average is $135.94 and its 200-day moving average is $168.89. The firm has a market cap of $4.24 billion, a P/E ratio of 86.31 and a beta of 0.74.
AeroVironment Profile
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Free Report)
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.
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