Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD – Get Rating)’s stock price traded down 4.5% during mid-day trading on Tuesday . The company traded as low as $36.52 and last traded at $36.64. 22,004 shares were traded during mid-day trading, a decline of 97% from the average session volume of 702,674 shares. The stock had previously closed at $38.36.
A number of research firms have recently commented on AJRD. JPMorgan Chase & Co. raised shares of Aerojet Rocketdyne from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $49.00 in a research report on Thursday, April 7th. TheStreet downgraded shares of Aerojet Rocketdyne from a “b-” rating to a “c+” rating in a report on Friday, May 20th. Truist Financial cut their price objective on Aerojet Rocketdyne from $51.00 to $36.00 in a report on Thursday, February 24th. Finally, StockNews.com downgraded Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research note on Monday, May 9th.
The stock has a 50-day moving average of $40.52 and a 200 day moving average of $40.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market capitalization of $2.94 billion, a P/E ratio of 20.74 and a beta of 0.48.
Aerojet Rocketdyne (NYSE:AJRD – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The aerospace company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $511.10 million for the quarter, compared to the consensus estimate of $525.20 million. Aerojet Rocketdyne had a return on equity of 37.15% and a net margin of 6.96%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 EPS. On average, equities analysts predict that Aerojet Rocketdyne Holdings, Inc. will post 1.96 EPS for the current year.
In other news, CFO Daniel L. Boehle sold 12,510 shares of the firm’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $40.52, for a total value of $506,905.20. Following the completion of the transaction, the chief financial officer now owns 57,148 shares in the company, valued at approximately $2,315,636.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in Aerojet Rocketdyne by 20.9% in the first quarter. First Trust Advisors LP now owns 102,395 shares of the aerospace company’s stock valued at $3,638,000 after buying an additional 17,684 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Aerojet Rocketdyne during the 3rd quarter valued at approximately $298,000. Citadel Advisors LLC boosted its holdings in Aerojet Rocketdyne by 261.2% in the 3rd quarter. Citadel Advisors LLC now owns 95,145 shares of the aerospace company’s stock worth $4,144,000 after buying an additional 68,801 shares during the period. LPL Financial LLC boosted its holdings in Aerojet Rocketdyne by 14.8% in the 3rd quarter. LPL Financial LLC now owns 6,389 shares of the aerospace company’s stock worth $278,000 after buying an additional 826 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Aerojet Rocketdyne by 42.9% in the 3rd quarter. Wellington Management Group LLP now owns 301,410 shares of the aerospace company’s stock worth $13,126,000 after buying an additional 90,413 shares during the period. Institutional investors own 96.67% of the company’s stock.
Aerojet Rocketdyne Company Profile (NYSE:AJRD)
Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. It operates in 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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