Scout Investments Inc. Lowers Position in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD)

Scout Investments Inc. lessened its position in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) by 28.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 409,361 shares of the aerospace company’s stock after selling 164,897 shares during the quarter. Scout Investments Inc. owned approximately 0.52% of Aerojet Rocketdyne worth $20,677,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NEXT Financial Group Inc bought a new position in Aerojet Rocketdyne during the 2nd quarter valued at approximately $43,000. Quantamental Technologies LLC bought a new position in Aerojet Rocketdyne during the 2nd quarter valued at approximately $73,000. NumerixS Investment Technologies Inc bought a new position in Aerojet Rocketdyne during the 2nd quarter valued at approximately $76,000. Point72 Hong Kong Ltd bought a new position in Aerojet Rocketdyne during the 2nd quarter valued at approximately $76,000. Finally, Point72 Asset Management L.P. bought a new position in Aerojet Rocketdyne during the 2nd quarter valued at approximately $121,000.

Shares of Aerojet Rocketdyne stock traded down $0.14 on Wednesday, reaching $48.00. The company’s stock had a trading volume of 3,552 shares, compared to its average volume of 769,600. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 4.80 and a beta of 0.42. The firm’s fifty day simple moving average is $50.84 and its two-hundred day simple moving average is $42.78. Aerojet Rocketdyne Holdings Inc has a 52 week low of $29.40 and a 52 week high of $52.84. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.78.

Aerojet Rocketdyne (NYSE:AJRD) last posted its earnings results on Wednesday, July 31st. The aerospace company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. The business had revenue of $485.00 million during the quarter, compared to analyst estimates of $473.98 million. Aerojet Rocketdyne had a return on equity of 30.58% and a net margin of 8.95%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS. As a group, research analysts predict that Aerojet Rocketdyne Holdings Inc will post 1.84 EPS for the current year.

In related news, Director Thomas A. Corcoran sold 10,000 shares of Aerojet Rocketdyne stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.94, for a total value of $489,400.00. Following the completion of the sale, the director now owns 4,032 shares of the company’s stock, valued at $197,326.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Turchin sold 5,000 shares of Aerojet Rocketdyne stock in a transaction on Monday, August 5th. The stock was sold at an average price of $47.57, for a total value of $237,850.00. Following the completion of the sale, the director now directly owns 80,650 shares of the company’s stock, valued at approximately $3,836,520.50. The disclosure for this sale can be found here. Insiders sold 53,656 shares of company stock valued at $2,740,068 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

A number of research analysts recently weighed in on AJRD shares. Zacks Investment Research raised Aerojet Rocketdyne from a “sell” rating to a “hold” rating and set a $52.00 price objective for the company in a research report on Friday, August 2nd. SunTrust Banks lifted their target price on Aerojet Rocketdyne to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. ValuEngine lowered Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Canaccord Genuity initiated coverage on Aerojet Rocketdyne in a report on Friday, June 28th. They issued a “buy” rating and a $50.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on Aerojet Rocketdyne in a report on Tuesday, September 10th. They issued a “neutral” rating and a $52.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $52.25.

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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Institutional Ownership by Quarter for Aerojet Rocketdyne (NYSE:AJRD)

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