Sumitomo Mitsui Trust Group Inc. Has $23.63 Million Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 4.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 198,288 shares of the aerospace company's stock after purchasing an additional 8,330 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.70% of AeroVironment worth $23,634,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC grew its position in AeroVironment by 120.2% in the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock worth $28,000 after purchasing an additional 101 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised 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 valued at $29,000 after buying an additional 154 shares during the last quarter. Colonial Trust Advisors bought a new stake in shares of AeroVironment in the fourth quarter valued at about $31,000. Accredited Wealth Management LLC acquired a new stake in AeroVironment during the fourth quarter worth about $31,000. Finally, Spirit of America Management Corp NY bought a new position in AeroVironment during the first quarter valued at about $36,000. Institutional investors own 86.38% of the company's stock.

AeroVironment Price Performance

Shares of AeroVironment stock traded down $0.31 during mid-day trading on Friday, reaching $245.95. 2,587,653 shares of the stock were exchanged, compared to its average volume of 538,539. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 158.68 and a beta of 0.96. The company has a current ratio of 3.52, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03. The firm has a 50-day simple moving average of $187.89 and a 200 day simple moving average of $163.44. AeroVironment, Inc. has a fifty-two week low of $102.25 and a fifty-two week high of $295.90.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.20. The firm had revenue of $275.05 million for the quarter, compared to analysts' expectations of $242.69 million. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The company's quarterly revenue was up 39.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, sell-side analysts predict that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on AVAV. William Blair initiated coverage on AeroVironment in a report on Sunday, June 29th. They issued an "outperform" rating for the company. Stifel Nicolaus assumed coverage on AeroVironment in a research note on Tuesday, June 24th. They issued a "buy" rating and a $240.00 target price for the company. Robert W. Baird lifted their price target on shares of AeroVironment from $146.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. BTIG Research boosted their price target on shares of AeroVironment from $225.00 to $300.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of AeroVironment in a report on Thursday, June 26th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, AeroVironment currently has an average rating of "Buy" and an average price target of $256.50.

AeroVironment 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.