Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) Short Interest Up 7.4% in December

Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRDGet Rating) was the recipient of a significant growth in short interest in December. As of December 30th, there was short interest totalling 2,470,000 shares, a growth of 7.4% from the December 15th total of 2,300,000 shares. Based on an average daily trading volume, of 1,080,000 shares, the short-interest ratio is presently 2.3 days. Approximately 3.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Aerojet Rocketdyne from $45.00 to $58.00 in a report on Monday, January 9th. Jefferies Financial Group cut shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating and reduced their target price for the stock from $62.00 to $58.00 in a report on Monday, December 19th. StockNews.com initiated coverage on shares of Aerojet Rocketdyne in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. downgraded shares of Aerojet Rocketdyne from an “overweight” rating to a “neutral” rating and upped their price target for the company from $54.00 to $58.00 in a research report on Tuesday, December 20th.

Institutional Investors Weigh In On Aerojet Rocketdyne

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Aerojet Rocketdyne by 8.9% in the 1st quarter. BlackRock Inc. now owns 13,381,966 shares of the aerospace company’s stock worth $526,579,000 after buying an additional 1,095,899 shares in the last quarter. Vanguard Group Inc. lifted its position in Aerojet Rocketdyne by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 8,182,754 shares of the aerospace company’s stock worth $321,991,000 after buying an additional 111,030 shares in the last quarter. State Street Corp lifted its position in Aerojet Rocketdyne by 20.9% in the 1st quarter. State Street Corp now owns 4,135,632 shares of the aerospace company’s stock worth $162,737,000 after buying an additional 715,758 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in Aerojet Rocketdyne by 7.3% in the 3rd quarter. Gamco Investors INC. ET AL now owns 2,972,837 shares of the aerospace company’s stock worth $118,884,000 after buying an additional 202,977 shares in the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Aerojet Rocketdyne by 7.3% during the 3rd quarter. Gabelli Funds LLC now owns 1,900,699 shares of the aerospace company’s stock worth $76,009,000 after purchasing an additional 129,250 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Aerojet Rocketdyne Stock Up 0.1 %

Shares of NYSE:AJRD opened at $56.12 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $4.52 billion, a PE ratio of 48.38 and a beta of 0.54. Aerojet Rocketdyne has a 52 week low of $35.47 and a 52 week high of $56.53. The firm has a 50 day simple moving average of $54.14 and a 200 day simple moving average of $47.14.

Aerojet Rocketdyne (NYSE:AJRDGet Rating) last released its earnings results on Tuesday, November 1st. The aerospace company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Aerojet Rocketdyne had a net margin of 4.40% and a return on equity of 22.96%. The company had revenue of $549.80 million during the quarter, compared to the consensus estimate of $558.27 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The company’s revenue was up .8% compared to the same quarter last year. As a group, research analysts expect that Aerojet Rocketdyne will post 1.68 earnings per share for the current year.

Aerojet Rocketdyne Company Profile

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

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