Baird Financial Group Inc. Makes New $2.02 Million Investment in AeroVironment, Inc. (NASDAQ:AVAV)

Baird Financial Group Inc. acquired a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,118 shares of the aerospace company's stock, valued at approximately $2,019,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of AeroVironment by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,098,822 shares of the aerospace company's stock worth $476,878,000 after purchasing an additional 35,543 shares during the period. Baillie Gifford & Co. boosted its position in shares of AeroVironment by 9.4% during the fourth quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company's stock valued at $328,598,000 after buying an additional 183,887 shares during the period. Geode Capital Management LLC grew its stake in shares of AeroVironment by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 654,024 shares of the aerospace company's stock valued at $100,670,000 after buying an additional 19,835 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of AeroVironment during the fourth quarter valued at approximately $93,759,000. Finally, Stephens Investment Management Group LLC raised its holdings in shares of AeroVironment by 40.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 541,541 shares of the aerospace company's stock worth $83,338,000 after buying an additional 154,703 shares during the period. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

AeroVironment Stock Down 0.8%

NASDAQ AVAV traded down $1.40 during midday trading on Friday, hitting $164.09. 315,501 shares of the company traded hands, compared to its average volume of 411,075. AeroVironment, Inc. has a 52 week low of $102.25 and a 52 week high of $236.60. The company's 50-day simple moving average is $139.52 and its 200-day simple moving average is $162.60. The company has a market cap of $4.63 billion, a PE ratio of 94.30 and a beta of 0.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AVAV. William Blair restated an "outperform" rating on shares of AeroVironment in a report on Wednesday, March 5th. Raymond James raised shares of AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 target price for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $190.00 price target on shares of AeroVironment in a research note on Monday. Jefferies Financial Group decreased 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. Finally, 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 note on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $197.83.

Insider Activity at AeroVironment

In other 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 transaction, the chief executive officer now owns 115,174 shares of the company's stock, valued at $14,765,306.80. The trade was a 20.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.27% of the stock is owned by corporate insiders.

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.