Voya Investment Management LLC Increases Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Voya Investment Management LLC increased its holdings in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) by 1,159.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,598 shares of the aerospace company's stock after purchasing an additional 129,431 shares during the period. Voya Investment Management LLC owned approximately 0.50% of AeroVironment worth $21,637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Modus Advisors LLC bought a new position in shares of AeroVironment during the 4th quarter worth approximately $31,000. Golden State Wealth Management LLC bought a new position in shares of AeroVironment during the fourth quarter valued at $31,000. Colonial Trust Advisors acquired a new stake in shares of AeroVironment in the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB increased 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 purchasing an additional 197 shares in the last quarter. Finally, Bogart Wealth LLC bought a new position in AeroVironment during the 4th quarter valued at about $38,000. Institutional investors own 86.38% of the company's stock.

AeroVironment Price Performance

Shares of NASDAQ AVAV traded down $1.72 during midday trading on Wednesday, reaching $151.52. 262,788 shares of the company were exchanged, compared to its average volume of 412,235. 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, Inc. has a one year low of $102.25 and a one year high of $236.60. The stock has a market cap of $4.28 billion, a P/E ratio of 87.08 and a beta of 0.74. The stock's 50-day moving average price is $135.17 and its 200-day moving average price is $166.84.

Analyst Ratings Changes

Several analysts have weighed in on the stock. William Blair reaffirmed an "outperform" rating on shares of AeroVironment in a research note on Wednesday, March 5th. Robert W. Baird cut 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. Jefferies Financial Group reduced their price objective on AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Finally, Raymond James raised AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price target for the company in a report on Tuesday, April 8th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $202.00.

Insider Buying and Selling

In other news, CEO Wahid Nawabi sold 29,366 shares of the firm's stock in a transaction 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 $14,765,306.80. This trade represents a 20.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.27% of the stock is owned by company insiders.

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.