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

JPMorgan Chase & Co. grew its holdings in AeroVironment, Inc. (NASDAQ:AVAV) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,585 shares of the aerospace company’s stock after purchasing an additional 1,705 shares during the period. JPMorgan Chase & Co. owned about 0.14% of AeroVironment worth $7,736,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Radnor Capital Management LLC increased its stake in AeroVironment by 1.0% in the 3rd quarter. Radnor Capital Management LLC now owns 5,965 shares of the aerospace company’s stock valued at $1,196,000 after buying an additional 60 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of AeroVironment by 1.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,609 shares of the aerospace company’s stock valued at $840,000 after acquiring an additional 66 shares in the last quarter. Arcadia Investment Management Corp MI increased its stake in shares of AeroVironment by 23.1% in the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company’s stock worth $80,000 after acquiring an additional 75 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of AeroVironment by 7.2% during the third quarter. First Trust Direct Indexing L.P. now owns 1,434 shares of the aerospace company’s stock worth $288,000 after acquiring an additional 96 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its position in AeroVironment by 51.0% during the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock valued at $79,000 after purchasing an additional 133 shares during the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.

AeroVironment Stock Up 1.6 %

AVAV opened at $164.66 on Wednesday. The firm has a market cap of $4.64 billion, a P/E ratio of 94.63 and a beta of 0.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. The business has a 50 day moving average price of $179.73 and a 200 day moving average price of $186.00. AeroVironment, Inc. has a twelve month low of $119.46 and a twelve month high of $236.60.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.29). AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The firm had revenue of $188.46 million during the quarter, compared to analyst estimates of $181.80 million. During the same quarter in the previous year, the firm posted $0.97 earnings per share. AeroVironment’s quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts forecast that AeroVironment, Inc. will post 3.38 EPS for the current year.

Insider Activity

In other news, CFO Kevin Patrick Mcdonnell sold 396 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $198.73, for a total value of $78,697.08. Following the sale, the chief financial officer now owns 16,472 shares in the company, valued at approximately $3,273,480.56. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVAV has been the topic of several research reports. Jefferies Financial Group raised AeroVironment from a “hold” rating to a “buy” rating and dropped their target price for the stock from $240.00 to $230.00 in a research report on Wednesday, November 20th. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Thursday, December 5th. Finally, BTIG Research reissued a “buy” rating and issued a $245.00 target price on shares of AeroVironment in a research report on Tuesday, September 17th. One investment 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. According to data from MarketBeat.com, AeroVironment has a consensus rating of “Buy” and a consensus target price of $225.20.

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.