Eagle Asset Management Inc. increased its stake in shares of Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,238,500 shares of the aerospace company’s stock after buying an additional 34,445 shares during the period. Eagle Asset Management Inc. owned about 2.84% of Aerojet Rocketdyne worth $113,066,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. NEXT Financial Group Inc purchased a new stake in Aerojet Rocketdyne during the second quarter worth about $43,000. Quantamental Technologies LLC purchased a new stake in Aerojet Rocketdyne during the second quarter worth about $73,000. NumerixS Investment Technologies Inc purchased a new stake in Aerojet Rocketdyne during the second quarter worth about $76,000. Point72 Hong Kong Ltd purchased a new stake in Aerojet Rocketdyne during the second quarter worth about $76,000. Finally, First Mercantile Trust Co. purchased a new stake in Aerojet Rocketdyne during the third quarter worth about $109,000.
AJRD traded up $1.18 during midday trading on Friday, reaching $44.53. 527,694 shares of the company’s stock were exchanged, compared to its average volume of 760,502. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market capitalization of $3.44 billion, a PE ratio of 23.07, a P/E/G ratio of 4.63 and a beta of 0.38. The business’s 50-day moving average price is $47.59 and its 200 day moving average price is $44.55. Aerojet Rocketdyne Holdings Inc has a 1-year low of $30.11 and a 1-year high of $52.84.
Aerojet Rocketdyne (NYSE:AJRD) last announced its earnings results on Tuesday, October 29th. The aerospace company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.09). The business had revenue of $481.80 million for the quarter, compared to analyst estimates of $505.47 million. Aerojet Rocketdyne had a return on equity of 27.14% and a net margin of 7.34%. The business’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. As a group, analysts expect that Aerojet Rocketdyne Holdings Inc will post 1.71 EPS for the current fiscal year.
A number of analysts recently commented on AJRD shares. Zacks Investment Research raised shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating and set a $52.00 price objective on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. initiated coverage on shares of Aerojet Rocketdyne in a research report on Tuesday, September 10th. They set a “neutral” rating and a $52.00 target price for the company. ValuEngine upgraded shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, SunTrust Banks lifted their target price on shares of Aerojet Rocketdyne to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $52.25.
In other news, CEO Eileen P. Drake sold 38,656 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $52.07, for a total value of $2,012,817.92. Following the completion of the transaction, the chief executive officer now owns 358,271 shares of the company’s stock, valued at $18,655,170.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas A. Corcoran sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $48.94, for a total transaction of $489,400.00. Following the completion of the transaction, the director now directly owns 4,032 shares of the company’s stock, valued at approximately $197,326.08. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Aerojet Rocketdyne Profile
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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