Oppenheimer & Co. Inc. Cuts Stock Position in Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD)

Posted by Defense World Staff on May 12th, 2023

Oppenheimer & Co. Inc. lessened its position in Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD – Get Rating) by 61.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,400 shares of the aerospace company’s stock after selling 26,644 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Aerojet Rocketdyne were worth $917,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System grew its stake in Aerojet Rocketdyne by 3.8% during the 4th quarter. Arizona State Retirement System now owns 20,427 shares of the aerospace company’s stock worth $1,142,000 after purchasing an additional 747 shares in the last quarter. LPL Financial LLC grew its stake in Aerojet Rocketdyne by 23.3% during the 4th quarter. LPL Financial LLC now owns 24,339 shares of the aerospace company’s stock worth $1,361,000 after purchasing an additional 4,602 shares in the last quarter. SG Americas Securities LLC grew its stake in Aerojet Rocketdyne by 28.9% during the 4th quarter. SG Americas Securities LLC now owns 18,154 shares of the aerospace company’s stock worth $1,015,000 after purchasing an additional 4,066 shares in the last quarter. ProShare Advisors LLC grew its stake in Aerojet Rocketdyne by 14.9% during the 4th quarter. ProShare Advisors LLC now owns 12,421 shares of the aerospace company’s stock worth $695,000 after purchasing an additional 1,612 shares in the last quarter. Finally, Monarch Partners Asset Management LLC acquired a new position in Aerojet Rocketdyne during the 4th quarter worth $1,446,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Aerojet Rocketdyne in a research note on Friday, May 5th. They set a “hold” rating for the company.

Aerojet Rocketdyne Trading Up 0.1 %

NYSE:AJRD opened at $56.11 on Friday. The stock has a 50-day simple moving average of $56.16 and a 200-day simple moving average of $54.65. The stock has a market cap of $4.53 billion, a P/E ratio of 61.66 and a beta of 0.57. Aerojet Rocketdyne Holdings, Inc. has a 1 year low of $36.44 and a 1 year high of $56.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.53 and a current ratio of 1.53.

Aerojet Rocketdyne (NYSE:AJRD – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The aerospace company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.02). The business had revenue of $566.30 million for the quarter, compared to analyst estimates of $540.35 million. Aerojet Rocketdyne had a return on equity of 20.42% and a net margin of 3.23%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 earnings per share. As a group, analysts anticipate that Aerojet Rocketdyne Holdings, Inc. will post 1.99 earnings per share for the current fiscal year.

Aerojet Rocketdyne Company Profile

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Aerojet Rocketdyne Holdings, Inc engages in provision of 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 and Defense, and Real Estate. The Aerospace and Defense segment operates through Aerojet Rocketdyne, Inc in developing and manufacturing 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.