Franklin Resources Inc. Has $1.22 Million Stock Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Franklin Resources Inc. raised its holdings in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 63.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,898 shares of the aerospace company's stock after acquiring an additional 3,077 shares during the quarter. Franklin Resources Inc.'s holdings in AeroVironment were worth $1,215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Modus Advisors LLC bought a new stake in shares of AeroVironment in the 4th quarter worth approximately $31,000. Golden State Wealth Management LLC acquired a new position in AeroVironment in the fourth quarter worth approximately $31,000. Wilmington Savings Fund Society FSB increased its holdings in shares of AeroVironment by 1,515.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company's stock valued at $32,000 after buying an additional 197 shares in the last quarter. Bogart Wealth LLC acquired a new stake in shares of AeroVironment during the 4th quarter valued at $38,000. Finally, Blue Trust Inc. boosted its stake in shares of AeroVironment by 2,950.0% during the 4th quarter. Blue Trust Inc. now owns 305 shares of the aerospace company's stock worth $47,000 after acquiring an additional 295 shares in the last quarter. Institutional investors own 86.38% of the company's stock.

AeroVironment Stock Up 2.6 %

Shares of AVAV traded up $3.80 during midday trading on Friday, reaching $147.61. 381,707 shares of the stock were exchanged, compared to its average volume of 413,873. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 84.83 and a beta of 0.74. The firm has a 50 day simple moving average of $136.63 and a 200-day simple moving average of $169.69. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month 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.

Analysts Set New Price Targets

AVAV has been the topic of a number of recent analyst reports. Raymond James raised AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 target price on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group reduced their price objective 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. Robert W. Baird dropped their target price on shares of AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. Finally, William Blair restated an "outperform" rating on shares of AeroVironment in a report on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $202.00.

Insiders Place Their Bets

In related news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the sale, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at $14,765,306.80. This trade represents a 20.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.