304,045 Shares in AeroVironment, Inc. (NASDAQ:AVAV) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 304,045 shares of the aerospace company's stock, valued at approximately $46,789,000. Raymond James Financial Inc. owned 1.08% of AeroVironment as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Modus Advisors LLC purchased a new stake in shares of AeroVironment during the 4th quarter worth about $31,000. Golden State Wealth Management LLC bought a new position in AeroVironment in the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB grew its position in shares of AeroVironment by 1,515.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 210 shares of the aerospace company's stock worth $32,000 after buying an additional 197 shares during the period. Bogart Wealth LLC purchased a new stake in shares of AeroVironment during the 4th quarter valued at approximately $38,000. Finally, Blue Trust Inc. raised its holdings in AeroVironment by 2,950.0% in the fourth quarter. Blue Trust Inc. now owns 305 shares of the aerospace company's stock worth $47,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 86.38% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AVAV. Raymond James upgraded shares of AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price target for the company in a research report on Tuesday, April 8th. Jefferies Financial Group lowered their target price on AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Robert W. Baird decreased their price target on AeroVironment from $220.00 to $146.00 and set an "outperform" rating for the company in a research note on Wednesday, March 5th. Finally, William Blair reiterated an "outperform" rating on shares of AeroVironment in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, AeroVironment presently has a consensus rating of "Buy" and a consensus price target of $202.00.

AeroVironment Price Performance

Shares of AVAV traded up $3.80 during trading hours on Friday, reaching $147.61. 381,707 shares of the company's stock traded hands, compared to its average volume of 413,873. The stock has a market cap of $4.17 billion, a PE ratio of 84.83 and a beta of 0.74. The firm's 50 day simple moving average is $136.63 and its 200-day simple moving average is $169.47. 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.

Insider Transactions at AeroVironment

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $128.20, for a total value of $3,764,721.20. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at approximately $14,765,306.80. The trade was a 20.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.27% of the company's stock.

About AeroVironment

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.