Nuveen Asset Management LLC Buys 45,580 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Nuveen Asset Management LLC increased its holdings in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 18.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 287,850 shares of the aerospace company's stock after buying an additional 45,580 shares during the period. Nuveen Asset Management LLC owned 1.02% of AeroVironment worth $44,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Alyeska Investment Group L.P. purchased a new stake in AeroVironment during the fourth quarter valued at about $93,759,000. Raymond James Financial Inc. bought a new stake in AeroVironment during the 4th quarter valued at approximately $46,789,000. Norges Bank bought a new stake in AeroVironment during the 4th quarter valued at approximately $37,502,000. Baillie Gifford & Co. lifted its holdings 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 purchasing an additional 183,887 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of AeroVironment by 415.7% during the fourth quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company's stock valued at $30,620,000 after purchasing an additional 160,390 shares during the last quarter. Hedge funds and other institutional investors own 86.38% of the company's stock.

AeroVironment Stock Down 1.8%

Shares of NASDAQ:AVAV opened at $161.12 on Tuesday. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. AeroVironment, Inc. has a 12 month low of $102.25 and a 12 month high of $236.60. The company has a 50-day moving average price of $141.11 and a 200 day moving average price of $161.07. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 92.60 and a beta of 0.80.

Insider Activity at AeroVironment

In related 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 value 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 represents a 20.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.27% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. 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. Raymond James upgraded 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. Robert W. Baird reduced their price objective on AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $190.00 target price on shares of AeroVironment in a report on Monday, May 12th. Finally, William Blair reaffirmed an "outperform" rating on shares of AeroVironment in a report on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $197.83.

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.

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