Engineers Gate Manager LP purchased a new position in shares of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 53,210 shares of the aerospace company’s stock, valued at approximately $1,863,000. Engineers Gate Manager LP owned about 0.07% of Aerojet Rocketdyne as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. acquired a new position in shares of Aerojet Rocketdyne during the 3rd quarter worth $136,000. SG Americas Securities LLC acquired a new position in shares of Aerojet Rocketdyne during the 3rd quarter worth $201,000. Ballentine Partners LLC acquired a new position in shares of Aerojet Rocketdyne during the 3rd quarter worth $210,000. Ameritas Investment Partners Inc. raised its stake in shares of Aerojet Rocketdyne by 18.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,071 shares of the aerospace company’s stock worth $126,000 after buying an additional 925 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of Aerojet Rocketdyne by 697.1% during the 3rd quarter. D.A. Davidson & CO. now owns 6,377 shares of the aerospace company’s stock worth $223,000 after buying an additional 5,577 shares during the last quarter. 97.59% of the stock is owned by institutional investors and hedge funds.
In related news, Director James R. Henderson sold 53,234 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $29.97, for a total value of $1,595,422.98. Following the completion of the transaction, the director now owns 113,341 shares of the company’s stock, valued at approximately $3,396,829.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Turchin sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $30.73, for a total transaction of $307,300.00. The disclosure for this sale can be found here. Insiders sold a total of 88,235 shares of company stock valued at $2,652,753 in the last three months. 2.70% of the stock is currently owned by corporate insiders.
Aerojet Rocketdyne (NYSE:AJRD) last announced 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). Aerojet Rocketdyne had a net margin of 3.24% and a return on equity of 60.91%. The firm had revenue of $484.00 million during the quarter, compared to analyst estimates of $487.48 million. Aerojet Rocketdyne’s revenue for the quarter was up 4.3% on a year-over-year basis. equities analysts expect that Aerojet Rocketdyne Holdings, Inc. will post 0.84 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on AJRD shares. BidaskClub raised Aerojet Rocketdyne from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. CL King raised shares of Aerojet Rocketdyne from a “neutral” rating to a “buy” rating in a research note on Friday, September 22nd. SunTrust Banks reissued a “buy” rating on shares of Aerojet Rocketdyne in a research note on Wednesday, September 27th. Zacks Investment Research downgraded shares of Aerojet Rocketdyne from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, Jefferies Group downgraded shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a research note on Monday, October 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $35.33.
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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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