Renaissance Technologies LLC Lowers Position in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD)

Renaissance Technologies LLC cut its holdings in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) by 20.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 733,195 shares of the aerospace company’s stock after selling 192,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.93% of Aerojet Rocketdyne worth $32,825,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AJRD. Dimensional Fund Advisors LP lifted its stake in Aerojet Rocketdyne by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,467,725 shares of the aerospace company’s stock worth $86,937,000 after acquiring an additional 54,328 shares during the period. Rhumbline Advisers lifted its stake in Aerojet Rocketdyne by 2.4% in the first quarter. Rhumbline Advisers now owns 174,509 shares of the aerospace company’s stock worth $6,200,000 after acquiring an additional 4,116 shares during the period. Comerica Bank lifted its stake in Aerojet Rocketdyne by 2.0% in the first quarter. Comerica Bank now owns 71,477 shares of the aerospace company’s stock worth $2,351,000 after acquiring an additional 1,395 shares during the period. Texas Permanent School Fund lifted its stake in Aerojet Rocketdyne by 3.9% in the first quarter. Texas Permanent School Fund now owns 48,968 shares of the aerospace company’s stock worth $1,740,000 after acquiring an additional 1,828 shares during the period. Finally, California Public Employees Retirement System lifted its stake in Aerojet Rocketdyne by 1.7% in the first quarter. California Public Employees Retirement System now owns 90,040 shares of the aerospace company’s stock worth $3,199,000 after acquiring an additional 1,507 shares during the period.

A number of research firms recently weighed in on AJRD. JPMorgan Chase & Co. began coverage on shares of Aerojet Rocketdyne in a research note on Tuesday. They issued a “neutral” rating and a $52.00 price objective for the company. ValuEngine raised shares of Aerojet Rocketdyne from a “hold” rating to a “buy” rating in a research report on Thursday, June 13th. SunTrust Banks increased their price target on shares of Aerojet Rocketdyne to $55.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Canaccord Genuity assumed coverage on shares of Aerojet Rocketdyne in a research report on Friday, June 28th. They set a “buy” rating and a $50.00 price target for the company. Finally, Zacks Investment Research raised shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating and set a $52.00 price target for the company in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $52.25.

Shares of AJRD stock traded up $0.71 during mid-day trading on Friday, hitting $51.45. 7,129 shares of the stock traded hands, compared to its average volume of 580,590. The stock has a market cap of $3.84 billion, a P/E ratio of 26.63, a P/E/G ratio of 4.67 and a beta of 0.48. The stock’s fifty day moving average is $49.02 and its two-hundred day moving average is $40.77. Aerojet Rocketdyne Holdings Inc has a 52-week low of $29.40 and a 52-week high of $52.66. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.53 and a quick ratio of 1.53.

Aerojet Rocketdyne (NYSE:AJRD) last released its quarterly earnings results on Wednesday, July 31st. The aerospace company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.10. The business had revenue of $485.00 million during the quarter, compared to analyst estimates of $473.98 million. Aerojet Rocketdyne had a net margin of 8.95% and a return on equity of 30.58%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, equities analysts forecast that Aerojet Rocketdyne Holdings Inc will post 1.84 EPS for the current fiscal year.

In related news, Director Thomas A. Corcoran sold 10,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $48.94, for a total value of $489,400.00. Following the completion of the transaction, the director now directly owns 4,032 shares of the company’s stock, valued at approximately $197,326.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Turchin sold 5,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $47.57, for a total transaction of $237,850.00. Following the completion of the transaction, the director now directly owns 80,650 shares of the company’s stock, valued at $3,836,520.50. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

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.

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

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