Harbour Investments Inc. Lowers Stake in AeroVironment, Inc. (NASDAQ:AVAV)

Harbour Investments Inc. cut its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 31.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 537 shares of the aerospace company’s stock after selling 241 shares during the period. Harbour Investments Inc.’s holdings in AeroVironment were worth $83,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AVAV. Franklin Resources Inc. boosted its holdings in shares of AeroVironment by 299.4% in the 3rd quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock worth $1,037,000 after purchasing an additional 3,614 shares in the last quarter. Congress Asset Management Co. boosted its stake in AeroVironment by 10.9% in the fourth quarter. Congress Asset Management Co. now owns 333,193 shares of the aerospace company’s stock worth $51,275,000 after buying an additional 32,663 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of AeroVironment by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 136,652 shares of the aerospace company’s stock valued at $21,029,000 after purchasing an additional 4,107 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of AeroVironment by 63.0% during the fourth quarter. Fisher Asset Management LLC now owns 217,806 shares of the aerospace company’s stock valued at $33,518,000 after buying an additional 84,170 shares during the last quarter. Finally, Truist Financial Corp purchased a new position in shares of AeroVironment in the fourth quarter worth about $776,000. Institutional investors own 86.38% of the company’s stock.

AeroVironment Trading Down 0.1 %

Shares of AVAV opened at $125.01 on Monday. AeroVironment, Inc. has a 1-year low of $110.07 and a 1-year high of $236.60. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $156.36 and its 200-day moving average price is $178.52. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 71.84 and a beta of 0.42.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AVAV. Robert W. Baird cut their target price on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. William Blair reissued an “outperform” rating on shares of AeroVironment in a report on Wednesday, March 5th. Finally, Jefferies Financial Group lowered their price objective on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AeroVironment has a consensus rating of “Buy” and a consensus target price of $202.40.

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.