Sit Investment Associates Inc. Has $3.57 Million Position in AeroVironment, Inc. (NASDAQ:AVAV)

Sit Investment Associates Inc. raised its stake in AeroVironment, Inc. (NASDAQ:AVAV) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,220 shares of the aerospace company’s stock after acquiring an additional 1,708 shares during the period. Sit Investment Associates Inc. owned approximately 0.08% of AeroVironment worth $3,573,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AVAV. Modus Advisors LLC acquired a new position in AeroVironment in the fourth quarter valued at about $31,000. Golden State Wealth Management LLC acquired a new position in shares of AeroVironment in the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB lifted its holdings 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 acquiring an additional 197 shares during the period. Bogart Wealth LLC acquired a new stake in shares of AeroVironment during the 4th quarter worth approximately $38,000. Finally, Blue Trust Inc. increased its stake in AeroVironment by 2,950.0% in the fourth quarter. Blue Trust Inc. now owns 305 shares of the aerospace company’s stock valued at $47,000 after acquiring an additional 295 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. William Blair restated an “outperform” rating on shares of AeroVironment in a research note on Wednesday, March 5th. Robert W. Baird dropped 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. Finally, Jefferies Financial Group decreased their target price on AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a research report 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $202.40.

Insider Transactions at AeroVironment

In other news, CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the transaction, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Company insiders own 1.27% of the company’s stock.

AeroVironment Price Performance

Shares of AVAV opened at $111.65 on Monday. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02. The stock has a market cap of $3.15 billion, a PE ratio of 64.17 and a beta of 0.74. AeroVironment, Inc. has a 12-month low of $100.81 and a 12-month high of $236.60. The business has a 50-day simple moving average of $146.62 and a two-hundred day simple moving average of $174.43.

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.