Reinhart Partners Inc. reduced its holdings in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) by 4.0% during the third quarter, Holdings Channel reports. The firm owned 236,844 shares of the aerospace company’s stock after selling 9,743 shares during the period. Reinhart Partners Inc.’s holdings in Aerojet Rocketdyne were worth $11,963,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in AJRD. NEXT Financial Group Inc bought a new stake in shares of Aerojet Rocketdyne in the 2nd quarter worth approximately $43,000. Quantamental Technologies LLC bought a new stake in shares of Aerojet Rocketdyne in the 2nd quarter worth approximately $73,000. NumerixS Investment Technologies Inc bought a new stake in shares of Aerojet Rocketdyne in the 2nd quarter worth approximately $76,000. Point72 Hong Kong Ltd bought a new stake in shares of Aerojet Rocketdyne in the 2nd quarter worth approximately $76,000. Finally, First Mercantile Trust Co. bought a new stake in shares of Aerojet Rocketdyne in the 3rd quarter worth approximately $109,000.
In related news, 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 transaction, the director now directly owns 4,032 shares of the company’s stock, valued at $197,326.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $2,012,817.92. Following the transaction, the chief executive officer now directly owns 358,271 shares in the company, valued at $18,655,170.97. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.
A number of equities research analysts have recently issued reports on the stock. SunTrust Banks boosted their price target on shares of Aerojet Rocketdyne to $55.00 and gave the company a “buy” rating in a report on Thursday, August 1st. ValuEngine upgraded shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. assumed coverage on shares of Aerojet Rocketdyne in a report on Tuesday, September 10th. They set a “neutral” rating and a $52.00 price target on the stock. Finally, 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $52.25.
Shares of AJRD stock traded up $1.18 during trading hours on Friday, reaching $44.53. 525,118 shares of the stock traded hands, 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 business has a fifty day moving average price of $47.44 and a 200 day moving average price of $44.61. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $3.44 billion, a PE ratio of 23.07, a PEG ratio of 4.63 and a beta of 0.38.
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 Zacks’ consensus estimate of $0.44 by ($0.09). Aerojet Rocketdyne had a net margin of 7.34% and a return on equity of 27.14%. The firm had revenue of $481.80 million for the quarter, compared to analyst estimates of $505.47 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The firm’s revenue was down 3.4% compared to the same quarter last year. Research analysts expect that Aerojet Rocketdyne Holdings Inc will post 1.71 earnings per share for the current fiscal 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.
See Also: Trade Deficit
Want to see what other hedge funds are holding AJRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aerojet Rocketdyne Holdings Inc (NYSE:AJRD).
Receive News & Ratings for Aerojet Rocketdyne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerojet Rocketdyne and related companies with MarketBeat.com's FREE daily email newsletter.