Principal Financial Group Inc. Has $21.03 Million Position in AeroVironment, Inc. (NASDAQ:AVAV)

Principal Financial Group Inc. increased its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,652 shares of the aerospace company's stock after purchasing an additional 4,107 shares during the quarter. Principal Financial Group Inc. owned approximately 0.48% of AeroVironment worth $21,029,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AVAV. Modus Advisors LLC acquired a new position in shares of AeroVironment during the 4th quarter worth about $31,000. Golden State Wealth Management LLC bought a new stake in AeroVironment during the fourth quarter worth about $31,000. Wilmington Savings Fund Society FSB boosted its position in AeroVironment by 1,515.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company's stock valued at $32,000 after purchasing an additional 197 shares during the last quarter. Bogart Wealth LLC bought a new position in AeroVironment in the fourth quarter valued at approximately $38,000. Finally, Blue Trust Inc. increased its position in shares of AeroVironment by 2,950.0% during the 4th quarter. Blue Trust Inc. now owns 305 shares of the aerospace company's stock worth $47,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 86.38% of the company's stock.

AeroVironment Stock Performance

AeroVironment stock traded down $1.89 during mid-day trading on Monday, hitting $152.90. 334,492 shares of the company's stock traded hands, compared to its average volume of 370,345. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. The firm has a 50 day simple moving average of $166.73 and a two-hundred day simple moving average of $185.98. AeroVironment, Inc. has a fifty-two week low of $121.74 and a fifty-two week high of $236.60. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 87.87 and a beta of 0.52.

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

Analyst Ratings Changes

AVAV has been the subject of several recent analyst reports. William Blair reissued an "outperform" rating on shares of AeroVironment in a report on Thursday, December 5th. Jefferies Financial Group raised shares of AeroVironment from a "hold" rating to a "buy" rating and dropped their price target for the stock from $240.00 to $230.00 in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $225.20.

Insider Transactions at AeroVironment

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $198.73, for a total transaction of $78,697.08. Following the transaction, the chief financial officer now owns 16,472 shares in the company, valued at $3,273,480.56. This represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.