Reinhart Partners Inc. decreased its position in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 236,844 shares of the aerospace company’s stock after selling 9,743 shares during the quarter. Reinhart Partners Inc. owned 0.30% of Aerojet Rocketdyne worth $11,963,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AJRD. NEXT Financial Group Inc purchased a new position in Aerojet Rocketdyne in the second quarter valued at about $43,000. Quantamental Technologies LLC acquired a new stake in Aerojet Rocketdyne during the second quarter worth approximately $73,000. Point72 Hong Kong Ltd acquired a new stake in Aerojet Rocketdyne during the second quarter worth approximately $76,000. NumerixS Investment Technologies Inc acquired a new stake in Aerojet Rocketdyne during the second quarter worth approximately $76,000. Finally, First Mercantile Trust Co. acquired a new stake in Aerojet Rocketdyne during the third quarter worth approximately $109,000.
A number of equities analysts have weighed in on AJRD shares. Zacks Investment Research upgraded shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Friday, August 2nd. SunTrust Banks lifted their target price on shares of Aerojet Rocketdyne to $55.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. initiated coverage on shares of Aerojet Rocketdyne in a report on Tuesday, September 10th. They set a “neutral” rating and a $52.00 target price on the stock. Finally, ValuEngine upgraded shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $52.25.
In other news, Director Thomas A. Corcoran sold 10,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were 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 approximately $197,326.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eileen P. Drake sold 38,656 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $52.07, for a total transaction of $2,012,817.92. Following the completion of the sale, the chief executive officer now directly owns 358,271 shares of the company’s stock, valued at approximately $18,655,170.97. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Aerojet Rocketdyne stock traded up $1.18 during midday trading on Friday, hitting $44.53. 525,118 shares of the stock were exchanged, compared to its average volume of 760,502. Aerojet Rocketdyne Holdings Inc has a 1 year low of $30.11 and a 1 year high of $52.84. The firm has a market cap of $3.44 billion, a P/E ratio of 23.07, a P/E/G ratio of 4.63 and a beta of 0.38. 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 company has a 50 day moving average price of $47.44 and a two-hundred day moving average price of $44.61.
Aerojet Rocketdyne (NYSE:AJRD) last released its quarterly earnings results on Tuesday, October 29th. The aerospace company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.09). Aerojet Rocketdyne had a return on equity of 27.14% and a net margin of 7.34%. The firm had revenue of $481.80 million for the quarter, compared to analysts’ expectations of $505.47 million. During the same period last year, the firm earned $0.42 EPS. The business’s quarterly revenue was down 3.4% on a year-over-year basis. As a group, analysts predict that Aerojet Rocketdyne Holdings Inc will post 1.71 EPS for the current year.
Aerojet Rocketdyne Company 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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