Monarch Partners Asset Management LLC Invests $8.64 Million in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD)

Monarch Partners Asset Management LLC acquired a new position in shares of Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 171,100 shares of the aerospace company’s stock, valued at approximately $8,642,000. Monarch Partners Asset Management LLC owned approximately 0.22% of Aerojet Rocketdyne at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in Aerojet Rocketdyne by 20.9% in the 1st quarter. First Trust Advisors LP now owns 102,395 shares of the aerospace company’s stock valued at $3,638,000 after acquiring an additional 17,684 shares in the last quarter. WINTON GROUP Ltd lifted its position in Aerojet Rocketdyne by 70.9% in the 2nd quarter. WINTON GROUP Ltd now owns 12,128 shares of the aerospace company’s stock valued at $543,000 after acquiring an additional 5,030 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Aerojet Rocketdyne in the 2nd quarter valued at about $3,792,000. Oregon Public Employees Retirement Fund lifted its position in Aerojet Rocketdyne by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 28,399 shares of the aerospace company’s stock valued at $1,271,000 after acquiring an additional 500 shares in the last quarter. Finally, NEXT Financial Group Inc bought a new position in Aerojet Rocketdyne in the 2nd quarter valued at about $43,000.

Shares of Aerojet Rocketdyne stock traded up $1.18 during mid-day trading on Friday, hitting $44.53. 527,694 shares of the stock were exchanged, compared to its average volume of 760,502. Aerojet Rocketdyne Holdings Inc has a 12 month low of $30.11 and a 12 month high of $52.84. The company has a 50-day simple moving average of $47.59 and a 200 day simple moving average of $44.55. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market capitalization of $3.44 billion, a P/E ratio of 23.07, a P/E/G ratio of 4.63 and a beta of 0.38.

Aerojet Rocketdyne (NYSE:AJRD) last posted its earnings results on Tuesday, October 29th. The aerospace company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.09). Aerojet Rocketdyne had a return on equity of 27.14% and a net margin of 7.34%. The firm had revenue of $481.80 million for the quarter, compared to the consensus estimate of $505.47 million. During the same period in the prior year, the business earned $0.42 EPS. Aerojet Rocketdyne’s quarterly revenue was down 3.4% compared to the same quarter last year. Analysts predict that Aerojet Rocketdyne Holdings Inc will post 1.71 EPS for the current year.

In other news, Director Thomas A. Corcoran sold 10,000 shares of the firm’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 completion of the sale, the director now owns 4,032 shares in the company, valued at approximately $197,326.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eileen P. Drake sold 38,656 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $52.07, for a total transaction of $2,012,817.92. Following the sale, the chief executive officer now owns 358,271 shares of the company’s stock, valued at approximately $18,655,170.97. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Several equities analysts recently weighed in on the stock. SunTrust Banks raised their price target on shares of Aerojet Rocketdyne to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating and set a $52.00 price target on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. started coverage on shares of Aerojet Rocketdyne in a research report on Tuesday, September 10th. They set a “neutral” rating and a $52.00 target price on the stock. Finally, ValuEngine raised shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Aerojet Rocketdyne has an average rating of “Buy” and an average price target 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: Book Value Of Equity Per Share – BVPS Explained

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

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