Wellington Management Group LLP Has $19.76 Million Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

Wellington Management Group LLP decreased its position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 60.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,373 shares of the aerospace company's stock after selling 193,106 shares during the period. Wellington Management Group LLP owned 0.45% of AeroVironment worth $19,755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redwood Investments LLC raised its holdings in shares of AeroVironment by 0.7% in the 4th quarter. Redwood Investments LLC now owns 9,273 shares of the aerospace company's stock worth $1,427,000 after purchasing an additional 66 shares in the last quarter. Arizona State Retirement System boosted its stake in AeroVironment by 0.8% in the 4th quarter. Arizona State Retirement System now owns 8,170 shares of the aerospace company's stock worth $1,257,000 after purchasing an additional 68 shares during the period. Mackenzie Financial Corp boosted its stake in AeroVironment by 5.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,601 shares of the aerospace company's stock worth $246,000 after purchasing an additional 83 shares during the period. New York State Teachers Retirement System grew its position in AeroVironment by 0.6% during the 4th quarter. New York State Teachers Retirement System now owns 17,618 shares of the aerospace company's stock worth $2,711,000 after purchasing an additional 100 shares in the last quarter. Finally, CoreCap Advisors LLC raised its stake in AeroVironment by 120.2% during the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock valued at $28,000 after purchasing an additional 101 shares during the period. 86.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. 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 report on Tuesday, April 8th. William Blair reiterated an "outperform" rating on shares of AeroVironment in a report on Wednesday, March 5th. Robert W. Baird lowered their target price on AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Wall Street Zen lowered AeroVironment from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group dropped their price objective on AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $197.83.

Insider Activity at AeroVironment

In related news, CEO Wahid Nawabi sold 29,366 shares of the firm's stock in a transaction 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 directly owns 115,174 shares in the company, valued at approximately $14,765,306.80. This trade represents a 20.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.27% of the stock is owned by company insiders.

AeroVironment Stock Down 2.3%

Shares of NASDAQ:AVAV traded down $4.30 on Wednesday, reaching $181.86. The company had a trading volume of 243,198 shares, compared to its average volume of 424,580. The stock has a market capitalization of $5.13 billion, a P/E ratio of 104.52 and a beta of 0.80. The stock has a 50-day moving average price of $151.56 and a 200 day moving average price of $158.11. AeroVironment, Inc. has a twelve month low of $102.25 and a twelve 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.

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.