Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) shares gapped down before the market opened on Thursday . The stock had previously closed at $26.98, but opened at $26.55. Aerojet Rocketdyne shares last traded at $26.55, with a volume of 2464362 shares trading hands.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Aerojet Rocketdyne from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective on the stock in a research report on Wednesday, January 10th. BidaskClub cut 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 set a $40.00 price objective on shares of Aerojet Rocketdyne in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $37.33.
The company has a current ratio of 1.66, a quick ratio of 1.38 and a debt-to-equity ratio of 3.94. The firm has a market capitalization of $2,030.00, a PE ratio of 31.61, a price-to-earnings-growth ratio of 5.29 and a beta of 1.12.
In other news, Director Martin Turchin sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $30.73, for a total transaction of $307,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of Aerojet Rocketdyne by 79.0% during the second quarter. Wells Fargo & Company MN now owns 81,142 shares of the aerospace company’s stock valued at $1,688,000 after purchasing an additional 35,808 shares during the period. Vanguard Group Inc. boosted its stake in shares of Aerojet Rocketdyne by 7.1% during the second 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. Reinhart Partners Inc. boosted its stake in shares of Aerojet Rocketdyne by 433.7% during the fourth quarter. Reinhart Partners Inc. now owns 384,282 shares of the aerospace company’s stock valued at $11,990,000 after purchasing an additional 312,274 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Aerojet Rocketdyne by 18.5% during the second quarter. The Manufacturers Life Insurance Company now owns 55,306 shares of the aerospace company’s stock valued at $1,150,000 after purchasing an additional 8,618 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Aerojet Rocketdyne during the third quarter valued at $290,000. 98.11% of the stock is owned by hedge funds and other institutional investors.
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Aerojet Rocketdyne Company Profile
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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