Russell Investments Group Ltd. grew its stake in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 483.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,258 shares of the aerospace company's stock after acquiring an additional 54,903 shares during the quarter. Russell Investments Group Ltd. owned about 0.23% of AeroVironment worth $10,217,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in AeroVironment by 121.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 40,846 shares of the aerospace company's stock valued at $6,286,000 after acquiring an additional 22,393 shares during the last quarter. Sit Investment Associates Inc. raised its position in AeroVironment by 7.9% in the fourth quarter. Sit Investment Associates Inc. now owns 23,220 shares of the aerospace company's stock valued at $3,573,000 after purchasing an additional 1,708 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of AeroVironment in the 4th quarter valued at $923,000. Geode Capital Management LLC grew its holdings in shares of AeroVironment by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 654,024 shares of the aerospace company's stock worth $100,670,000 after purchasing an additional 19,835 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of AeroVironment by 63.8% during the 4th quarter. Franklin Resources Inc. now owns 7,898 shares of the aerospace company's stock worth $1,215,000 after purchasing an additional 3,077 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company's stock.
Insiders Place Their Bets
In related news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $128.20, for a total value of $3,764,721.20. Following the completion of the transaction, the chief executive officer now owns 115,174 shares in the company, valued at $14,765,306.80. The trade was a 20.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.27% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on AVAV. Jefferies Financial Group lowered their target price on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. William Blair reiterated an "outperform" rating on shares of AeroVironment in a report on Wednesday, March 5th. Raymond James upgraded AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price target on the stock in a research note on Tuesday, April 8th. Finally, Robert W. Baird lowered their price target on AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $202.00.
Read Our Latest Analysis on AVAV
AeroVironment Stock Down 2.0 %
Shares of AeroVironment stock traded down $2.80 during trading hours on Tuesday, reaching $140.00. 387,914 shares of the company were exchanged, compared to its average volume of 410,934. The firm has a market cap of $3.95 billion, a PE ratio of 80.46 and a beta of 0.74. The stock's fifty day moving average is $139.40 and its 200 day moving average is $171.13. AeroVironment, Inc. has a 1 year low of $102.25 and a 1 year high of $236.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.
About AeroVironment
(
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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