Advisors Asset Management Inc. Increases Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Advisors Asset Management Inc. raised its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,213 shares of the aerospace company’s stock after buying an additional 1,966 shares during the quarter. Advisors Asset Management Inc. owned about 0.09% of AeroVironment worth $3,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in AeroVironment by 299.4% during the 3rd quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock valued at $1,037,000 after buying an additional 3,614 shares in the last quarter. Congress Asset Management Co. grew its holdings in 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 buying an additional 32,663 shares in the last quarter. Principal Financial Group Inc. grew its holdings in AeroVironment by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 136,652 shares of the aerospace company’s stock valued at $21,029,000 after buying an additional 4,107 shares in the last quarter. Fisher Asset Management LLC grew its holdings in AeroVironment by 63.0% during the 4th quarter. Fisher Asset Management LLC now owns 217,806 shares of the aerospace company’s stock valued at $33,518,000 after buying an additional 84,170 shares in the last quarter. Finally, Truist Financial Corp purchased a new stake in AeroVironment during the 4th quarter valued at approximately $776,000. 86.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AVAV shares. Jefferies Financial Group cut their price objective on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Robert W. Baird lowered their target price on AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, William Blair reiterated an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $202.40.

AeroVironment Stock Down 0.5 %

Shares of AVAV opened at $125.10 on Friday. The company has a market cap of $3.53 billion, a PE ratio of 71.90 and a beta of 0.42. The business has a fifty day moving average of $157.16 and a 200 day moving average of $179.27. AeroVironment, Inc. has a 52-week low of $110.07 and a 52-week high of $236.60. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02.

About AeroVironment

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.