Cambridge Investment Research Advisors Inc. Reduces Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Cambridge Investment Research Advisors Inc. decreased its position in AeroVironment, Inc. (NASDAQ:AVAV – Get Rating) by 48.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,942 shares of the aerospace company’s stock after selling 4,700 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in AeroVironment were worth $412,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its stake in shares of AeroVironment by 5.2% in the 1st quarter. BlackRock Inc. now owns 3,860,339 shares of the aerospace company’s stock valued at $363,412,000 after buying an additional 192,305 shares during the period. State Street Corp grew its stake in shares of AeroVironment by 4.7% in the 2nd quarter. State Street Corp now owns 1,414,364 shares of the aerospace company’s stock valued at $116,261,000 after buying an additional 63,863 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of AeroVironment by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 699,402 shares of the aerospace company’s stock valued at $65,842,000 after buying an additional 6,509 shares during the period. FMR LLC grew its stake in shares of AeroVironment by 37,687.0% in the 2nd quarter. FMR LLC now owns 389,962 shares of the aerospace company’s stock valued at $32,055,000 after buying an additional 388,930 shares during the period. Finally, Pinnacle Associates Ltd. grew its stake in shares of AeroVironment by 1.2% in the 2nd quarter. Pinnacle Associates Ltd. now owns 264,934 shares of the aerospace company’s stock valued at $21,778,000 after buying an additional 3,057 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of AeroVironment from $105.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, December 7th. StockNews.com assumed coverage on shares of AeroVironment in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Canaccord Genuity Group increased their price objective on shares of AeroVironment from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, November 18th. Finally, Raymond James raised shares of AeroVironment from a “market perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research report on Thursday, November 10th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.57.

AeroVironment Price Performance

Shares of AVAV opened at $89.73 on Thursday. AeroVironment, Inc. has a twelve month low of $52.03 and a twelve month high of $114.11. The firm’s fifty day simple moving average is $87.16 and its 200-day simple moving average is $87.19. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -280.40 and a beta of 0.56. The company has a current ratio of 3.44, a quick ratio of 2.39 and a debt-to-equity ratio of 0.26.

AeroVironment Company Profile

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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 four segments: Unmanned Aircraft Systems (UAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS).