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

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

A number of other large investors have also added to or reduced their stakes in AVAV. Hsbc Holdings PLC raised its stake in AeroVironment by 31.2% during the 4th quarter. Hsbc Holdings PLC now owns 5,091 shares of the aerospace company’s stock valued at $1,235,000 after buying an additional 1,210 shares during the last quarter. Mengis Capital Management Inc. boosted its stake in shares of AeroVironment by 61.2% in the 4th quarter. Mengis Capital Management Inc. now owns 1,501 shares of the aerospace company’s stock worth $363,000 after buying an additional 570 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of AeroVironment in the 4th quarter worth $195,000. MidFirst Bank bought a new stake in shares of AeroVironment in the fourth quarter worth $40,000. Finally, Pacer Advisors Inc. grew its holdings in shares of AeroVironment by 45.5% in the fourth quarter. Pacer Advisors Inc. now owns 6,084 shares of the aerospace company’s stock worth $1,472,000 after acquiring an additional 1,902 shares during the period. Institutional investors own 86.38% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stifel Nicolaus reduced their price objective on AeroVironment from $389.00 to $315.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Raymond James Financial upgraded AeroVironment from an “underperform” rating to a “market perform” rating in a research note on Monday, March 23rd. Clear Str raised shares of AeroVironment to a “strong-buy” rating in a research report on Wednesday, April 29th. Piper Sandler lowered their price objective on shares of AeroVironment from $391.00 to $290.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Finally, UBS Group dropped their price objective on shares of AeroVironment from $259.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday, March 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $311.83.

AeroVironment News Roundup

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

AeroVironment Price Performance

Shares of AeroVironment stock opened at $136.68 on Friday. The stock has a market cap of $6.82 billion, a P/E ratio of -31.49, a P/E/G ratio of 1.95 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.54 and a current ratio of 5.51. The stock’s fifty day moving average is $179.12 and its 200 day moving average is $227.22. AeroVironment, Inc. has a one year low of $135.20 and a one year high of $417.86.

AeroVironment Company 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.