Bank of New York Mellon Corp grew its position in shares of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) by 42.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,440,290 shares of the aerospace company’s stock after buying an additional 427,755 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.93% of Aerojet Rocketdyne Holdings worth $29,958,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the business. Acrospire Investment Management LLC acquired a new position in Aerojet Rocketdyne Holdings in the first quarter valued at approximately $100,000. Ameritas Investment Partners Inc. acquired a new stake in Aerojet Rocketdyne Holdings in the first quarter worth $112,000. Glen Harbor Capital Management LLC raised its holdings in Aerojet Rocketdyne Holdings by 10.6% in the first quarter. Glen Harbor Capital Management LLC now owns 5,338 shares of the aerospace company’s stock worth $116,000 after purchasing an additional 510 shares during the period. Invictus RG acquired a new stake in Aerojet Rocketdyne Holdings in the first quarter worth $268,000. Finally, State of Alaska Department of Revenue raised its holdings in Aerojet Rocketdyne Holdings by 77.8% in the second quarter. State of Alaska Department of Revenue now owns 14,687 shares of the aerospace company’s stock worth $305,000 after purchasing an additional 6,427 shares during the period. 93.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on AJRD. BidaskClub upgraded shares of Aerojet Rocketdyne Holdings from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research upgraded shares of Aerojet Rocketdyne Holdings from a “sell” rating to a “hold” rating and set a $31.00 price objective on the stock in a report on Tuesday, August 8th.
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Shares of Aerojet Rocketdyne Holdings, Inc. (AJRD) opened at 28.68 on Tuesday. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 55.58 and a beta of 1.47. The company’s 50 day moving average is $26.80 and its 200-day moving average is $22.84. Aerojet Rocketdyne Holdings, Inc. has a one year low of $16.04 and a one year high of $30.06.
Aerojet Rocketdyne Holdings (NYSE:AJRD) last released its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.17. Aerojet Rocketdyne Holdings had a net margin of 2.00% and a return on equity of 153.06%. The firm had revenue of $459.60 million for the quarter, compared to the consensus estimate of $433.71 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. Equities analysts expect that Aerojet Rocketdyne Holdings, Inc. will post $0.90 EPS for the current year.
Aerojet Rocketdyne Holdings Company Profile
GenCorp Inc, incorporated in 1915, is a manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the re-zoning, entitlement, sale, and leasing of its excess real estate assets. The Company develops and manufactures propulsion systems for defense and space applications, and armaments for precision tactical and long range weapon systems applications.
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