Arizona State Retirement System lessened its position in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,895 shares of the aerospace company’s stock after selling 8,967 shares during the quarter. Arizona State Retirement System owned approximately 0.13% of Aerojet Rocketdyne worth $3,429,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Eagle Asset Management Inc. grew its stake in Aerojet Rocketdyne by 230.1% in the second quarter. Eagle Asset Management Inc. now owns 1,560,632 shares of the aerospace company’s stock valued at $46,023,000 after purchasing an additional 1,087,866 shares in the last quarter. Carillon Tower Advisers Inc. grew its stake in Aerojet Rocketdyne by 197.6% in the second quarter. Carillon Tower Advisers Inc. now owns 1,324,247 shares of the aerospace company’s stock valued at $39,051,000 after purchasing an additional 879,297 shares in the last quarter. Victory Capital Management Inc. grew its stake in Aerojet Rocketdyne by 27.6% in the second quarter. Victory Capital Management Inc. now owns 3,550,475 shares of the aerospace company’s stock valued at $104,703,000 after purchasing an additional 768,151 shares in the last quarter. Advisors Asset Management Inc. bought a new position in Aerojet Rocketdyne in the second quarter valued at approximately $278,000. Finally, Waddell & Reed Financial Inc. bought a new position in Aerojet Rocketdyne in the second quarter valued at approximately $7,081,000.
Shares of NYSE AJRD opened at $37.94 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.90. Aerojet Rocketdyne Holdings Inc has a 12 month low of $24.41 and a 12 month high of $38.92. The company has a market cap of $2.99 billion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 4.89 and a beta of 0.91.
Aerojet Rocketdyne (NYSE:AJRD) last issued its earnings results on Tuesday, October 30th. The aerospace company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.13. Aerojet Rocketdyne had a return on equity of 42.70% and a net margin of 3.11%. The company had revenue of $497.20 million during the quarter, compared to the consensus estimate of $479.64 million. During the same period in the previous year, the company posted $0.17 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts expect that Aerojet Rocketdyne Holdings Inc will post 1.42 EPS for the current year.
In other news, Director Martin Turchin sold 5,000 shares of Aerojet Rocketdyne stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $36.43, for a total transaction of $182,150.00. Following the completion of the transaction, the director now directly owns 90,650 shares in the company, valued at approximately $3,302,379.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.
A number of research analysts have weighed in on the company. ValuEngine upgraded Aerojet Rocketdyne from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. SunTrust Banks raised their price target on Aerojet Rocketdyne from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 21st. Finally, TheStreet upgraded Aerojet Rocketdyne from a “c+” rating to a “b” rating in a research note on Friday, August 3rd.
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About Aerojet Rocketdyne
Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates through two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors.
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