Rhumbline Advisers Has $7.51 Million Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

Rhumbline Advisers raised its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 0.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 62,969 shares of the aerospace company’s stock after acquiring an additional 205 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of AeroVironment worth $7,505,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC increased its position in AeroVironment by 120.2% in the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 101 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of AeroVironment by 171.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company’s stock worth $29,000 after buying an additional 154 shares during the period. Golden State Wealth Management LLC bought a new position in AeroVironment during the fourth quarter worth $31,000. Colonial Trust Advisors acquired a new position in AeroVironment in the fourth quarter valued at $31,000. Finally, Accredited Wealth Management LLC bought a new stake in AeroVironment during the fourth quarter valued at $31,000. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AeroVironment

In other news, CEO Wahid Nawabi sold 29,366 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the transaction, the chief executive officer now owns 115,174 shares of the company’s stock, valued at $14,765,306.80. This represents a 20.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Raymond James upgraded AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price target for the company in a report on Tuesday, April 8th. Wall Street Zen upgraded AeroVironment from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $190.00 price target on shares of AeroVironment in a report on Monday, May 12th. Jefferies Financial Group decreased their price target on AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, William Blair reiterated an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, AeroVironment presently has an average rating of “Buy” and a consensus target price of $208.50.

AeroVironment Price Performance

AVAV stock opened at $189.62 on Wednesday. The stock has a market capitalization of $5.35 billion, a PE ratio of 108.98 and a beta of 0.81. The company’s 50-day moving average is $158.36 and its 200-day moving average is $157.87. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. AeroVironment, Inc. has a 1 year low of $102.25 and a 1 year high of $236.60.

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.