Prudential PLC Decreases Stock Holdings in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD)

Prudential PLC trimmed its position in shares of Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) by 11.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,300 shares of the aerospace company’s stock after selling 29,600 shares during the period. Prudential PLC owned approximately 0.29% of Aerojet Rocketdyne worth $10,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Aerojet Rocketdyne by 17.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,824,034 shares of the aerospace company’s stock valued at $395,052,000 after buying an additional 1,289,760 shares during the period. Clearbridge Investments LLC purchased a new stake in Aerojet Rocketdyne during the 1st quarter valued at $37,465,000. Gilder Gagnon Howe & Co. LLC raised its holdings in Aerojet Rocketdyne by 467.0% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 575,460 shares of the aerospace company’s stock valued at $20,446,000 after buying an additional 473,973 shares during the period. Nuveen Asset Management LLC purchased a new stake in Aerojet Rocketdyne during the 2nd quarter valued at $20,676,000. Finally, Bessemer Group Inc. purchased a new stake in Aerojet Rocketdyne during the 2nd quarter valued at $16,110,000.

In other news, Director Thomas A. Corcoran sold 10,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $48.94, for a total transaction of $489,400.00. Following the transaction, the director now owns 4,032 shares of the company’s stock, valued at approximately $197,326.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eileen P. Drake sold 38,656 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $52.07, for a total value of $2,012,817.92. Following the transaction, the chief executive officer now directly owns 358,271 shares in the company, valued at approximately $18,655,170.97. The disclosure for this sale can be found here. Insiders have sold a total of 53,656 shares of company stock worth $2,740,068 in the last three months. Corporate insiders own 3.00% of the company’s stock.

AJRD stock traded up $0.72 during midday trading on Tuesday, reaching $51.23. The company’s stock had a trading volume of 3,524 shares, compared to its average volume of 546,327. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a fifty day simple moving average of $50.90 and a two-hundred day simple moving average of $42.20. Aerojet Rocketdyne Holdings Inc has a 1 year low of $29.40 and a 1 year high of $52.84. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 5.06 and a beta of 0.47.

Aerojet Rocketdyne (NYSE:AJRD) last released its earnings results on Wednesday, July 31st. The aerospace company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. Aerojet Rocketdyne had a return on equity of 30.58% and a net margin of 8.95%. The business had revenue of $485.00 million for the quarter, compared to analyst estimates of $473.98 million. During the same quarter last year, the firm posted $0.45 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, analysts forecast that Aerojet Rocketdyne Holdings Inc will post 1.84 EPS for the current fiscal year.

Several analysts recently weighed in on AJRD shares. Canaccord Genuity began coverage on Aerojet Rocketdyne in a report on Friday, June 28th. They set a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. began coverage on Aerojet Rocketdyne in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $52.00 target price on the stock. SunTrust Banks increased their target price on Aerojet Rocketdyne to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. ValuEngine upgraded Aerojet Rocketdyne from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. Finally, Zacks Investment Research upgraded Aerojet Rocketdyne from a “sell” rating to a “hold” rating and set a $52.00 target price on the stock in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $52.25.

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.

Further Reading: Cost of Capital

Institutional Ownership by Quarter for Aerojet Rocketdyne (NYSE:AJRD)

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