Victory Capital Management Inc. cut its stake in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) by 35.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,297,078 shares of the aerospace company’s stock after selling 1,253,397 shares during the quarter. Victory Capital Management Inc.’s holdings in Aerojet Rocketdyne were worth $78,078,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in Aerojet Rocketdyne by 652.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 74,053 shares of the aerospace company’s stock valued at $2,184,000 after acquiring an additional 64,214 shares in the last quarter. Swiss National Bank raised its holdings in Aerojet Rocketdyne by 5.8% in the 2nd quarter. Swiss National Bank now owns 117,700 shares of the aerospace company’s stock valued at $3,471,000 after acquiring an additional 6,500 shares in the last quarter. Waddell & Reed Financial Inc. acquired a new position in Aerojet Rocketdyne in the 2nd quarter valued at $7,081,000. Principal Financial Group Inc. raised its holdings in Aerojet Rocketdyne by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 616,157 shares of the aerospace company’s stock valued at $17,234,000 after acquiring an additional 12,780 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in Aerojet Rocketdyne by 17.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 62,584 shares of the aerospace company’s stock valued at $1,846,000 after acquiring an additional 9,095 shares in the last quarter.
AJRD has been the subject of several analyst reports. Zacks Investment Research cut Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. ValuEngine upgraded Aerojet Rocketdyne from a “hold” rating to a “buy” rating in a research note on Monday, October 22nd. SunTrust Banks lifted 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.
In other news, Director Martin Turchin sold 5,000 shares of Aerojet Rocketdyne stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $36.43, for a total value of $182,150.00. Following the transaction, the director now owns 90,650 shares in the company, valued at approximately $3,302,379.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.20% of the company’s stock.
Shares of AJRD opened at $36.86 on Monday. Aerojet Rocketdyne Holdings Inc has a 52-week low of $24.41 and a 52-week high of $38.50. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $2.89 billion, a PE ratio of 49.81, a price-to-earnings-growth ratio of 4.72 and a beta of 0.91.
Aerojet Rocketdyne (NYSE:AJRD) last issued its quarterly earnings results on Tuesday, October 30th. The aerospace company reported $0.42 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $479.64 million. During the same quarter last year, the company posted $0.17 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that Aerojet Rocketdyne Holdings Inc will post 1.42 earnings per share for the current year.
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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