Advisors Asset Management Inc. Acquires Shares of 318,238 Aerojet Rocketdyne Holdings Inc (AJRD)

Advisors Asset Management Inc. acquired a new position in shares of Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 318,238 shares of the aerospace company’s stock, valued at approximately $278,000. Advisors Asset Management Inc. owned approximately 0.42% of Aerojet Rocketdyne at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Aerojet Rocketdyne by 151.7% during the 1st quarter. JPMorgan Chase & Co. now owns 365,756 shares of the aerospace company’s stock worth $10,230,000 after purchasing an additional 220,428 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Aerojet Rocketdyne by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,298,149 shares of the aerospace company’s stock worth $64,279,000 after purchasing an additional 12,150 shares during the period. Stifel Financial Corp boosted its stake in shares of Aerojet Rocketdyne by 58.7% during the 1st quarter. Stifel Financial Corp now owns 19,167 shares of the aerospace company’s stock worth $539,000 after purchasing an additional 7,086 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Aerojet Rocketdyne during the 1st quarter worth about $729,000. Finally, OppenheimerFunds Inc. boosted its stake in shares of Aerojet Rocketdyne by 7.5% during the 1st quarter. OppenheimerFunds Inc. now owns 43,006 shares of the aerospace company’s stock worth $1,203,000 after purchasing an additional 3,001 shares during the period.

In other news, Director Martin Turchin sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $36.43, for a total value of $182,150.00. Following the completion of the sale, the director now owns 90,650 shares of the company’s stock, valued at approximately $3,302,379.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James H. Perry sold 25,225 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $34.33, for a total transaction of $865,974.25. Following the completion of the sale, the director now directly owns 113,140 shares of the company’s stock, valued at approximately $3,884,096.20. The disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.

A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Aerojet Rocketdyne from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a research note on Tuesday, July 24th. TheStreet raised shares of Aerojet Rocketdyne from a “c+” rating to a “b” rating in a research note on Friday, August 3rd. SunTrust Banks lifted their price target on shares of Aerojet Rocketdyne from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 21st. Finally, ValuEngine cut shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $36.67.

Aerojet Rocketdyne stock opened at $30.49 on Friday. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 41.26, a P/E/G ratio of 4.87 and a beta of 1.07. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.60 and a quick ratio of 1.60. Aerojet Rocketdyne Holdings Inc has a 1 year low of $24.41 and a 1 year high of $37.70.

Aerojet Rocketdyne (NYSE:AJRD) last released its quarterly earnings data on Monday, July 30th. The aerospace company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.18. The company had revenue of $467.20 million during the quarter, compared to analysts’ expectations of $457.41 million. Aerojet Rocketdyne had a net margin of 0.48% and a return on equity of 46.03%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. As a group, research analysts expect that Aerojet Rocketdyne Holdings Inc will post 1.27 earnings per share for the current fiscal year.

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.

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

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