Investors Buy Large Volume of Call Options on Aerojet Rocketdyne (AJRD)

Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) saw unusually large options trading activity on Monday. Investors acquired 2,712 call options on the stock. This is an increase of 2,035% compared to the average daily volume of 127 call options.

Shares of Aerojet Rocketdyne (NYSE:AJRD) traded down $0.55 during mid-day trading on Friday, reaching $26.43. 592,928 shares of the company were exchanged, compared to its average volume of 795,235. The company has a market capitalization of $1,984.89, a price-to-earnings ratio of 32.23, a P/E/G ratio of 5.19 and a beta of 1.12. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.66 and a quick ratio of 1.38. Aerojet Rocketdyne has a fifty-two week low of $17.75 and a fifty-two week high of $36.25.

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

AJRD has been the topic of several recent research reports. Jefferies Group cut shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research note on Monday, October 23rd. Zacks Investment Research downgraded shares of Aerojet Rocketdyne from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, January 23rd. BidaskClub downgraded shares of Aerojet Rocketdyne from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Finally, SunTrust Banks reiterated a “buy” rating and issued a $40.00 target price on shares of Aerojet Rocketdyne in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.33.

In related news, Director James R. Henderson sold 53,234 shares of Aerojet Rocketdyne 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 sale, the director now directly owns 113,341 shares in the company, valued at approximately $3,396,829.77. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Martin Turchin sold 10,000 shares of Aerojet Rocketdyne 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. Over the last three months, insiders have sold 88,235 shares of company stock valued at $2,652,753. 2.70% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Aerojet Rocketdyne by 6.8% in the 2nd quarter. BlackRock Inc. now owns 10,372,466 shares of the aerospace company’s stock worth $215,747,000 after purchasing an additional 659,778 shares during the last quarter. Vanguard Group Inc. lifted its position in Aerojet Rocketdyne by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,740,974 shares of the aerospace company’s stock valued at $77,813,000 after purchasing an additional 246,605 shares during the period. Victory Capital Management Inc. lifted its position in Aerojet Rocketdyne by 4.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,837,895 shares of the aerospace company’s stock valued at $88,542,000 after purchasing an additional 114,532 shares during the period. Dimensional Fund Advisors LP lifted its position in Aerojet Rocketdyne by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,218,990 shares of the aerospace company’s stock valued at $77,687,000 after purchasing an additional 34,676 shares during the period. Finally, State Street Corp lifted its position in Aerojet Rocketdyne by 25.4% during the 2nd quarter. State Street Corp now owns 2,139,438 shares of the aerospace company’s stock valued at $44,504,000 after purchasing an additional 433,398 shares during the period. 97.92% of the stock is currently owned by institutional investors and hedge funds.

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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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