JPMorgan Chase & Co. Has $7.74 Million Stock Holdings in AeroVironment, Inc. (NASDAQ:AVAV)

JPMorgan Chase & Co. raised its position in AeroVironment, Inc. (NASDAQ:AVAV) by 4.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 38,585 shares of the aerospace company’s stock after purchasing an additional 1,705 shares during the period. JPMorgan Chase & Co.’s holdings in AeroVironment were worth $7,736,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. increased its position in shares of AeroVironment by 29.1% during the third quarter. Baillie Gifford & Co. now owns 1,951,393 shares of the aerospace company’s stock valued at $391,254,000 after purchasing an additional 439,717 shares during the period. State Street Corp boosted its stake in AeroVironment by 0.5% during the third quarter. State Street Corp now owns 1,582,871 shares of the aerospace company’s stock worth $317,366,000 after buying an additional 7,471 shares in the last quarter. Geode Capital Management LLC increased its holdings in AeroVironment by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 634,189 shares of the aerospace company’s stock valued at $127,180,000 after buying an additional 4,948 shares during the period. Heard Capital LLC raised its stake in shares of AeroVironment by 25.5% in the 3rd quarter. Heard Capital LLC now owns 592,136 shares of the aerospace company’s stock valued at $118,723,000 after buying an additional 120,447 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of AeroVironment by 155.1% during the 3rd quarter. Wellington Management Group LLP now owns 321,479 shares of the aerospace company’s stock worth $64,457,000 after acquiring an additional 195,443 shares during the period. Institutional investors own 86.38% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kevin Patrick Mcdonnell sold 396 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $198.73, for a total transaction of $78,697.08. Following the completion of the sale, the chief financial officer now owns 16,472 shares in the company, valued at $3,273,480.56. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.27% of the company’s stock.

AeroVironment Trading Up 1.6 %

Shares of AeroVironment stock opened at $164.66 on Wednesday. The firm’s 50 day moving average is $179.73 and its 200 day moving average is $186.00. The firm has a market capitalization of $4.64 billion, a PE ratio of 94.63 and a beta of 0.50. AeroVironment, Inc. has a 1 year low of $119.46 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.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.29). The business had revenue of $188.46 million for the quarter, compared to the consensus estimate of $181.80 million. AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. AeroVironment’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. Equities research analysts forecast that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVAV. William Blair reiterated an “outperform” rating on shares of AeroVironment in a research note on Thursday, December 5th. Jefferies Financial Group raised shares of AeroVironment from a “hold” rating to a “buy” rating and cut their price target for the company from $240.00 to $230.00 in a report on Wednesday, November 20th. Finally, BTIG Research reaffirmed a “buy” rating and set a $245.00 price objective on shares of AeroVironment in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $225.20.

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.