MetLife Investment Advisors LLC reduced its position in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) by 33.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,677 shares of the aerospace company’s stock after selling 16,025 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Aerojet Rocketdyne were worth $1,116,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund purchased a new position in Aerojet Rocketdyne during the fourth quarter valued at approximately $27,000. Nikko Asset Management Americas Inc. increased its holdings in Aerojet Rocketdyne by 145.6% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,039 shares of the aerospace company’s stock valued at $37,000 after buying an additional 616 shares during the period. IFP Advisors Inc increased its holdings in Aerojet Rocketdyne by 29.2% during the fourth quarter. IFP Advisors Inc now owns 3,332 shares of the aerospace company’s stock valued at $116,000 after buying an additional 753 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Aerojet Rocketdyne by 12.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,849 shares of the aerospace company’s stock valued at $171,000 after buying an additional 528 shares during the period. Finally, Strs Ohio increased its holdings in Aerojet Rocketdyne by 960.0% during the fourth quarter. Strs Ohio now owns 5,300 shares of the aerospace company’s stock valued at $186,000 after buying an additional 4,800 shares during the period.
In related news, CEO Eileen P. Drake sold 29,592 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $34.42, for a total transaction of $1,018,556.64. Following the completion of the transaction, the chief executive officer now owns 382,236 shares of the company’s stock, valued at $13,156,563.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.00% of the company’s stock.
Aerojet Rocketdyne (NYSE:AJRD) last posted its quarterly earnings data on Tuesday, February 19th. The aerospace company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). Aerojet Rocketdyne had a return on equity of 36.16% and a net margin of 7.24%. The company had revenue of $437.90 million for the quarter, compared to analyst estimates of $512.37 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was down 17.1% on a year-over-year basis. On average, equities analysts predict that Aerojet Rocketdyne Holdings Inc will post 1.33 EPS for the current year.
AJRD has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Aerojet Rocketdyne from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Wednesday, January 16th. SunTrust Banks raised their target price on shares of Aerojet Rocketdyne to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. ValuEngine downgraded shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Credit Suisse Group upgraded shares of Aerojet Rocketdyne from a “neutral” rating to an “outperform” rating in a research note on Monday, January 14th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Aerojet Rocketdyne currently has a consensus rating of “Buy” and an average target price of $45.00.
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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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