Aerojet Rocketdyne (NYSE:AJRD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, January 3rd.

According to Zacks, “Aerojet Rocketdyne Holdings, Inc. focuses on developing military, civil and commercial systems and components for the aerospace and defense industry markets. Aerojet Rocketdyne Holdings, Inc., formerly known as GenCorp, Inc., is headquartered in Sacramento, California. “

Several other research analysts also recently weighed in on AJRD. BidaskClub downgraded shares of Aerojet Rocketdyne from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 13th. CL King upgraded shares of Aerojet Rocketdyne from a “neutral” rating to a “buy” rating in a research note on Friday, September 22nd. SunTrust Banks reiterated a “buy” rating on shares of Aerojet Rocketdyne in a research note on Wednesday, September 27th. Finally, Jefferies Group cut shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a research note on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.33.

Aerojet Rocketdyne (AJRD) opened at $28.53 on Wednesday. The firm has a market cap of $2,137.35, a price-to-earnings ratio of 34.71, a P/E/G ratio of 5.58 and a beta of 1.41. The company has a quick ratio of 1.38, a current ratio of 1.66 and a debt-to-equity ratio of 3.94. Aerojet Rocketdyne has a 1-year low of $17.69 and a 1-year high of $36.25.

Aerojet Rocketdyne (NYSE:AJRD) last issued its earnings results on Thursday, November 2nd. The aerospace company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $484.00 million during the quarter, compared to the consensus estimate of $487.48 million. Aerojet Rocketdyne had a return on equity of 60.91% and a net margin of 3.24%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. analysts expect that Aerojet Rocketdyne will post 0.83 earnings per share for the current fiscal year.

In other news, Director James H. Perry sold 25,001 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $30.00, for a total transaction of $750,030.00. Following the sale, the director now directly owns 166,959 shares in the company, valued at approximately $5,008,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Henderson sold 53,234 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $29.97, for a total transaction of $1,595,422.98. Following the sale, the director now owns 113,341 shares in the company, valued at $3,396,829.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,235 shares of company stock worth $2,652,753. Corporate insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Aerojet Rocketdyne by 1,129.9% during the 4th quarter. IFP Advisors Inc now owns 3,542 shares of the aerospace company’s stock valued at $111,000 after buying an additional 3,254 shares in the last quarter. Northpointe Capital LLC raised its position in shares of Aerojet Rocketdyne by 37.1% during the 4th quarter. Northpointe Capital LLC now owns 184,411 shares of the aerospace company’s stock valued at $5,754,000 after buying an additional 49,919 shares in the last quarter. Reinhart Partners Inc. raised its position in shares of Aerojet Rocketdyne by 433.7% during the 4th quarter. Reinhart Partners Inc. now owns 384,282 shares of the aerospace company’s stock valued at $11,990,000 after buying an additional 312,274 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Aerojet Rocketdyne by 2.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 518,842 shares of the aerospace company’s stock valued at $16,188,000 after buying an additional 12,827 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Aerojet Rocketdyne by 6.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 32,300 shares of the aerospace company’s stock valued at $1,008,000 after buying an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

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About Aerojet Rocketdyne

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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