Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) Shares Acquired by Gabelli Funds LLC

Posted by on Feb 24th, 2023

Gabelli Funds LLC lifted its position in shares of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD – Get Rating) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,900,699 shares of the aerospace company’s stock after purchasing an additional 129,250 shares during the quarter. Aerojet Rocketdyne accounts for approximately 0.6% of Gabelli Funds LLC’s portfolio, making the stock its 27th largest holding. Gabelli Funds LLC owned 2.36% of Aerojet Rocketdyne worth $76,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE grew its stake in shares of Aerojet Rocketdyne by 247.6% during the 1st quarter. US Bancorp DE now owns 643 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 458 shares during the period. Signaturefd LLC lifted its position in shares of Aerojet Rocketdyne by 109.4% during the 3rd quarter. Signaturefd LLC now owns 911 shares of the aerospace company’s stock valued at $36,000 after buying an additional 476 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Aerojet Rocketdyne by 588.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,053 shares of the aerospace company’s stock valued at $43,000 after buying an additional 900 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Aerojet Rocketdyne during the 2nd quarter valued at approximately $49,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Aerojet Rocketdyne by 316.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,340 shares of the aerospace company’s stock valued at $54,000 after buying an additional 1,018 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AJRD. JPMorgan Chase & Co. lowered Aerojet Rocketdyne from an “overweight” rating to a “neutral” rating and increased their target price for the company from $54.00 to $58.00 in a research report on Tuesday, December 20th. Truist Financial increased their target price on Aerojet Rocketdyne from $45.00 to $58.00 in a research report on Monday, January 9th. Finally, Jefferies Financial Group lowered Aerojet Rocketdyne from a “buy” rating to a “hold” rating and decreased their price objective for the company from $62.00 to $58.00 in a report on Monday, December 19th.

Aerojet Rocketdyne Stock Up 0.3 %

Shares of AJRD opened at $56.11 on Friday. Aerojet Rocketdyne Holdings, Inc. has a 52-week low of $35.47 and a 52-week high of $56.59. The company has a market capitalization of $4.53 billion, a PE ratio of 62.35 and a beta of 0.57. The stock has a fifty day simple moving average of $55.90 and a two-hundred day simple moving average of $49.48. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.53.

Aerojet Rocketdyne (NYSE:AJRD – Get Rating) last issued its earnings results on Wednesday, February 15th. The aerospace company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.25). Aerojet Rocketdyne had a return on equity of 21.00% and a net margin of 3.31%. The company had revenue of $648.20 million during the quarter, compared to analyst estimates of $615.73 million. During the same period last year, the business earned $0.43 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts forecast that Aerojet Rocketdyne Holdings, Inc. will post 1.99 EPS for the current year.

About Aerojet Rocketdyne

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Aerojet Rocketdyne Holdings, Inc engages in providing solutions in the field of aerospace and defense, as well as in the field of real estate. It operates through the following business segments: Aerospace & Defense, and Real Estate. The Aerospace & Defense segment operates through the Aerojet Rocketdyne, Inc in developing and manufacturing of aerospace and defense products and systems for the United States government, the National Aeronautics and Space Administration, major aerospace and defense prime contractors as well as portions of the commercial sector.

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

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