Rhumbline Advisers Purchases 2,423 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Rhumbline Advisers increased its holdings in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 4.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,764 shares of the aerospace company's stock after buying an additional 2,423 shares during the period. Rhumbline Advisers owned 0.22% of AeroVironment worth $9,659,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its position in shares of AeroVironment by 29.1% during the 3rd quarter. Baillie Gifford & Co. now owns 1,951,393 shares of the aerospace company's stock valued at $391,254,000 after buying an additional 439,717 shares in the last quarter. State Street Corp raised its position in AeroVironment by 0.5% during the third quarter. State Street Corp now owns 1,582,871 shares of the aerospace company's stock valued at $317,366,000 after purchasing an additional 7,471 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 during the last quarter. Heard Capital LLC boosted its holdings in shares of AeroVironment by 25.5% in the 3rd quarter. Heard Capital LLC now owns 592,136 shares of the aerospace company's stock worth $118,723,000 after purchasing an additional 120,447 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its position in shares of AeroVironment by 40.0% during the 4th 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. Institutional investors own 86.38% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AVAV shares. Jefferies Financial Group upgraded AeroVironment from a "hold" rating to a "buy" rating and dropped their target price for the stock from $240.00 to $230.00 in a research report on Wednesday, November 20th. William Blair restated an "outperform" rating on shares of AeroVironment in a report on Thursday, December 5th. One equities 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $225.20.

AeroVironment Price Performance

AVAV stock opened at $152.90 on Tuesday. 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's 50-day moving average price is $166.41 and its two-hundred day moving average price is $185.81. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 87.87 and a beta of 0.52. AeroVironment, Inc. has a 12-month low of $121.74 and a 12-month high of $236.60.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 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 business had revenue of $188.46 million during the quarter, compared to analysts' expectations of $181.80 million. During the same period in the previous year, the business earned $0.97 EPS. The business's revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts predict that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $198.73, for a total value of $78,697.08. Following the completion of the transaction, the chief financial officer now directly owns 16,472 shares in the company, valued at $3,273,480.56. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.27% of the company's stock.

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.

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