Louisiana State Employees Retirement System Sells 700 Shares of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD)


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Louisiana State Employees Retirement System decreased its position in shares of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,100 shares of the aerospace company’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Aerojet Rocketdyne were worth $1,749,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AJRD. CENTRAL TRUST Co boosted its stake in Aerojet Rocketdyne by 154.5% during the 3rd quarter. CENTRAL TRUST Co now owns 1,400 shares of the aerospace company’s stock worth $56,000 after acquiring an additional 850 shares during the last quarter. NEXT Financial Group Inc acquired a new stake in Aerojet Rocketdyne during the 3rd quarter worth approximately $67,000. Point72 Hong Kong Ltd raised its holdings in Aerojet Rocketdyne by 444.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,280 shares of the aerospace company’s stock worth $130,000 after buying an additional 2,678 shares during the period. Nisa Investment Advisors LLC raised its holdings in Aerojet Rocketdyne by 108.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,270 shares of the aerospace company’s stock worth $130,000 after buying an additional 1,700 shares during the period. Finally, Huntington National Bank raised its holdings in Aerojet Rocketdyne by 452.6% during the 3rd quarter. Huntington National Bank now owns 3,846 shares of the aerospace company’s stock worth $153,000 after buying an additional 3,150 shares during the period.

Several analysts have commented on AJRD shares. Royal Bank of Canada raised their target price on shares of Aerojet Rocketdyne from $51.00 to $56.00 in a report on Monday, December 21st. Truist Financial downgraded shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a report on Tuesday, December 22nd. Canaccord Genuity lowered their price objective on shares of Aerojet Rocketdyne from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. BidaskClub upgraded shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating in a report on Wednesday, December 23rd. Finally, Truist cut shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating and raised their target price for the company from $54.00 to $56.00 in a research note on Monday, December 21st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Aerojet Rocketdyne presently has an average rating of “Hold” and a consensus target price of $53.83.

AJRD stock opened at $52.90 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.75 and a quick ratio of 1.75. The company has a fifty day moving average price of $46.54 and a two-hundred day moving average price of $41.11. Aerojet Rocketdyne Holdings, Inc. has a one year low of $32.15 and a one year high of $57.27. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 34.80 and a beta of 0.49.

Aerojet Rocketdyne (NYSE:AJRD) last released its quarterly earnings data on Monday, October 26th. The aerospace company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.08). Aerojet Rocketdyne had a return on equity of 19.05% and a net margin of 6.26%. The company had revenue of $527.70 million for the quarter, compared to the consensus estimate of $519.05 million. During the same period last year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts anticipate that Aerojet Rocketdyne Holdings, Inc. will post 1.68 EPS for the current fiscal year.

About Aerojet Rocketdyne

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.

Further Reading: Hold Rating

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

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