Louisiana State Employees Retirement System Reduces Holdings in Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD)

Posted by on Jul 3rd, 2023

Louisiana State Employees Retirement System lowered its position in shares of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD – Free Report) by 1.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,300 shares of the aerospace company’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in Aerojet Rocketdyne were worth $1,983,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wolverine Asset Management LLC purchased a new stake in shares of Aerojet Rocketdyne during the fourth quarter valued at approximately $493,000. Diametric Capital LP acquired a new stake in shares of Aerojet Rocketdyne during the fourth quarter worth approximately $979,000. PNC Financial Services Group Inc. grew its position in shares of Aerojet Rocketdyne by 21.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,971 shares of the aerospace company’s stock worth $725,000 after buying an additional 2,321 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Aerojet Rocketdyne during the fourth quarter worth approximately $278,000. Finally, Centiva Capital LP grew its position in shares of Aerojet Rocketdyne by 1,209.3% during the fourth quarter. Centiva Capital LP now owns 98,200 shares of the aerospace company’s stock worth $5,492,000 after buying an additional 90,700 shares in the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Aerojet Rocketdyne in a research report on Friday. They set a “hold” rating for the company.

Aerojet Rocketdyne Stock Performance

Aerojet Rocketdyne stock opened at $54.87 on Monday. The company has a market cap of $4.43 billion, a PE ratio of 60.30 and a beta of 0.56. The company has a fifty day moving average price of $55.20 and a two-hundred day moving average price of $55.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.53 and a quick ratio of 1.53. Aerojet Rocketdyne Holdings, Inc. has a 12 month low of $38.48 and a 12 month high of $56.80.

Aerojet Rocketdyne (NYSE:AJRD – Free Report) last released its quarterly earnings data on Thursday, May 4th. The aerospace company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.02). The business had revenue of $566.30 million during 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 business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. Research analysts expect that Aerojet Rocketdyne Holdings, Inc. will post 1.99 earnings per share for the current year.

About Aerojet Rocketdyne

(Free Report)

Aerojet Rocketdyne Holdings, Inc engages in the design, development, manufacture, and sale of aerospace and defense products and systems in the United States. It operates in 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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