Rockefeller Capital Management L.P. Purchases 21,643 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Rockefeller Capital Management L.P. increased its stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 50.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,810 shares of the aerospace company's stock after purchasing an additional 21,643 shares during the period. Rockefeller Capital Management L.P. owned 0.23% of AeroVironment worth $12,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its position in shares of AeroVironment by 29.1% during the third quarter. Baillie Gifford & Co. now owns 1,951,393 shares of the aerospace company's stock worth $391,254,000 after buying an additional 439,717 shares during the period. International Assets Investment Management LLC boosted its position in AeroVironment by 19,950.0% during the 3rd quarter. International Assets Investment Management LLC now owns 267,066 shares of the aerospace company's stock worth $53,547,000 after acquiring an additional 265,734 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of AeroVironment by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 256,688 shares of the aerospace company's stock worth $51,466,000 after purchasing an additional 9,921 shares in the last quarter. Emerald Advisers LLC increased its holdings in shares of AeroVironment by 10.2% during the third quarter. Emerald Advisers LLC now owns 217,666 shares of the aerospace company's stock valued at $43,642,000 after purchasing an additional 20,207 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of AeroVironment by 108.4% during the third quarter. Victory Capital Management Inc. now owns 180,824 shares of the aerospace company's stock valued at $36,255,000 after purchasing an additional 94,062 shares during the period. Institutional investors and hedge funds own 86.38% of the company's stock.

AeroVironment Trading Down 5.0 %

Shares of AVAV stock traded down $10.09 during trading hours on Tuesday, reaching $193.10. 547,149 shares of the stock traded hands, compared to its average volume of 400,362. The company has a quick ratio of 3.04, a current ratio of 4.26 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $5.45 billion, a PE ratio of 90.66 and a beta of 0.45. AeroVironment, Inc. has a 1-year low of $116.51 and a 1-year high of $236.60. The business has a fifty day moving average price of $208.88 and a 200 day moving average price of $194.36.

AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.28. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The business had revenue of $189.48 million during the quarter, compared to analyst estimates of $183.18 million. During the same period in the prior year, the firm earned $1.00 earnings per share. The firm's revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts forecast that AeroVironment, Inc. will post 3.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AVAV shares. Royal Bank of Canada decreased their target price on shares of AeroVironment from $230.00 to $215.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th. Alembic Global Advisors raised AeroVironment from a "neutral" rating to an "overweight" rating and set a $216.00 target price on the stock in a report on Wednesday, August 28th. Jefferies Financial Group raised AeroVironment from a "hold" rating to a "buy" rating and decreased their price target for the company from $240.00 to $230.00 in a research note on Wednesday, November 20th. Robert W. Baird raised shares of AeroVironment from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $161.00 to $220.00 in a research note on Wednesday, August 28th. Finally, BTIG Research reissued a "buy" rating and set a $245.00 target price on shares of AeroVironment in a research note on Tuesday, September 17th. 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. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $211.83.

Insider Buying and Selling

In other news, CFO Kevin Patrick Mcdonnell sold 508 shares of AeroVironment stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $216.65, for a total value of $110,058.20. Following the transaction, the chief financial officer now owns 16,868 shares of the company's stock, valued at $3,654,452.20. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 1,782 shares of company stock worth $373,609. 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.