Northern Trust Corp Grows Position in AeroVironment, Inc. (NASDAQ:AVAV)

Northern Trust Corp increased its position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 299,588 shares of the aerospace company's stock after purchasing an additional 31,789 shares during the quarter. Northern Trust Corp owned 1.06% of AeroVironment worth $46,104,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AVAV. Raymond James Financial Inc. acquired a new stake in AeroVironment in the fourth quarter worth about $46,789,000. Norges Bank bought a new position in shares of AeroVironment in the fourth quarter valued at approximately $37,502,000. Baillie Gifford & Co. grew its stake in shares of AeroVironment by 9.4% in the fourth quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company's stock worth $328,598,000 after acquiring an additional 183,887 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in AeroVironment by 415.7% during the fourth quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company's stock worth $30,620,000 after buying an additional 160,390 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of AeroVironment by 40.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 541,541 shares of the aerospace company's stock valued at $83,338,000 after acquiring an additional 154,703 shares during the period. Institutional investors and hedge funds own 86.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AVAV. Jefferies Financial Group cut their price target on AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Robert W. Baird lowered their price objective on AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Raymond James upgraded AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price objective for the company in a research report on Tuesday, April 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $190.00 price objective on shares of AeroVironment in a research report on Monday. Finally, William Blair reiterated an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. Six 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.com, the stock has an average rating of "Buy" and an average price target of $197.83.

Insider Buying and Selling

In other news, CEO Wahid Nawabi sold 29,366 shares of the 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 transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $14,765,306.80. This represents a 20.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.27% of the stock is currently owned by insiders.

AeroVironment Stock Performance

AVAV stock traded down $0.53 during midday trading on Tuesday, hitting $166.60. The company's stock had a trading volume of 410,830 shares, compared to its average volume of 446,045. AeroVironment, Inc. has a 1 year low of $102.25 and a 1 year 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. The stock's 50-day moving average price is $137.42 and its 200 day moving average price is $162.95. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 95.75 and a beta of 0.80.

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.