Rockefeller Capital Management L.P. Trims Stock Holdings in AeroVironment, Inc. $AVAV

Rockefeller Capital Management L.P. lowered its position in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,477 shares of the aerospace company’s stock after selling 6,038 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.07% of AeroVironment worth $8,098,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AVAV. United Services Automobile Association bought a new stake in AeroVironment during the first quarter worth about $225,000. Schnieders Capital Management LLC. purchased a new position in shares of AeroVironment during the second quarter valued at approximately $285,000. American Century Companies Inc. purchased a new position in shares of AeroVironment during the second quarter valued at approximately $633,000. EverSource Wealth Advisors LLC lifted its holdings in shares of AeroVironment by 5,200.0% during the second quarter. EverSource Wealth Advisors LLC now owns 159 shares of the aerospace company’s stock valued at $45,000 after purchasing an additional 156 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of AeroVironment by 0.4% in the 2nd quarter. Marshall Wace LLP now owns 24,188 shares of the aerospace company’s stock worth $6,892,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 86.38% of the company’s stock.

AeroVironment Price Performance

Shares of NASDAQ AVAV opened at $136.68 on Friday. The firm has a market cap of $6.82 billion, a P/E ratio of -31.49, a PEG ratio of 1.95 and a beta of 1.35. AeroVironment, Inc. has a twelve month low of $135.20 and a twelve month high of $417.86. The company has a quick ratio of 4.54, a current ratio of 5.51 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $179.12 and a 200 day moving average of $227.22.

Analysts Set New Price Targets

Several research firms recently weighed in on AVAV. Raymond James Financial upgraded AeroVironment from an “underperform” rating to a “market perform” rating in a research note on Monday, March 23rd. Needham & Company LLC dropped their target price on AeroVironment from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. KeyCorp cut their target price on AeroVironment from $330.00 to $295.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 11th. UBS Group reduced their price target on AeroVironment from $259.00 to $236.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. Finally, Jefferies Financial Group lowered their price target on AeroVironment from $390.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AeroVironment has an average rating of “Moderate Buy” and an average target price of $311.83.

More AeroVironment News

Here are the key news stories impacting AeroVironment this week:

• Positive Sentiment: AeroVironment appointed William J. Lynn III, former Deputy Defense Secretary, to its Board of Directors, which may improve strategic oversight and support investor confidence. AV Appoints William J. Lynn III to Board of Directors
• Positive Sentiment: Articles highlighting rising drone-defense spending and AeroVironment’s role in that trend may help reinforce the long-term growth story for AVAV. Pentagon’s $55 Billion Drone Investment: Top Defense Stocks to Watch
• Neutral Sentiment: Some analyst and valuation coverage focused on AVAV’s upcoming earnings and relative potential versus peers, but these pieces did not appear to introduce a major new stock-moving catalyst. Exploring Analyst Estimates for AeroVironment (AVAV) Q4 Earnings, Beyond Revenue and EPS
• Negative Sentiment: Investors are reacting to the $89 million goodwill impairment and the related accounting/control concerns, which have fueled skepticism about AeroVironment’s financial reporting. AeroVironment (AVAV) Faces Lawsuits And Restates Earnings Over $89 Million Error
• Negative Sentiment: Multiple shareholder law firms announced class-action lawsuits and lead-plaintiff deadlines over alleged securities-law violations, adding legal uncertainty and potential costs for AVAV. Pomerantz Law Firm Announces the Filing of a Class Action Against AeroVironment, Inc. and Certain Officers – AVAV

Insider Activity at AeroVironment

In other news, Director Stephen F. Page sold 250 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $174.41, for a total value of $43,602.50. Following the completion of the transaction, the director owned 49,001 shares in the company, valued at $8,546,264.41. The trade was a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 750 shares of company stock valued at $133,502. 0.81% of the stock is currently owned by company insiders.

AeroVironment Profile

AeroVironment, Inc (NASDAQ:AVAV) is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.

The company’s unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.