Eileen P. Drake Sells 29,592 Shares of Aerojet Rocketdyne Holdings Inc (AJRD) Stock

Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) CEO Eileen P. Drake sold 29,592 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $34.42, for a total value of $1,018,556.64. Following the sale, the chief executive officer now owns 382,236 shares in the company, valued at approximately $13,156,563.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NYSE:AJRD traded up $0.20 during trading hours on Friday, reaching $32.24. 521,067 shares of the company were exchanged, compared to its average volume of 933,269. The company has a market capitalization of $2.54 billion, a P/E ratio of 16.70, a P/E/G ratio of 4.42 and a beta of 0.72. Aerojet Rocketdyne Holdings Inc has a 1-year low of $25.06 and a 1-year high of $40.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.41 and a quick ratio of 1.41.

Aerojet Rocketdyne (NYSE:AJRD) last issued its quarterly earnings results on Tuesday, February 19th. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). The company had revenue of $437.90 million for the quarter, compared to analyst estimates of $512.37 million. Aerojet Rocketdyne had a return on equity of 36.16% and a net margin of 7.24%. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 EPS. On average, sell-side analysts anticipate that Aerojet Rocketdyne Holdings Inc will post 1.33 EPS for the current fiscal year.

Several research firms have issued reports on AJRD. Zacks Investment Research lowered Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Credit Suisse Group upgraded Aerojet Rocketdyne from a “neutral” rating to an “outperform” rating in a research note on Monday, January 14th. ValuEngine downgraded Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, SunTrust Banks upped their target price on Aerojet Rocketdyne to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $45.00.

Several hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. bought a new position in shares of Aerojet Rocketdyne in the 3rd quarter valued at $360,000. Arizona State Retirement System lifted its stake in shares of Aerojet Rocketdyne by 10.0% in the 4th quarter. Arizona State Retirement System now owns 110,935 shares of the aerospace company’s stock valued at $3,908,000 after acquiring an additional 10,040 shares during the last quarter. Comerica Bank raised its position in Aerojet Rocketdyne by 4.0% during the 4th quarter. Comerica Bank now owns 70,082 shares of the aerospace company’s stock worth $2,733,000 after purchasing an additional 2,681 shares during the last quarter. Paloma Partners Management Co bought a new position in Aerojet Rocketdyne during the 3rd quarter worth $1,763,000. Finally, James Investment Research Inc. bought a new position in Aerojet Rocketdyne during the 4th quarter worth $1,053,000.

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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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