Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in shares of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD – Get Rating) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,209,613 shares of the aerospace company’s stock after selling 84,219 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.50% of Aerojet Rocketdyne worth $48,372,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in AJRD. US Bancorp DE boosted its position in shares of Aerojet Rocketdyne by 247.6% in the 1st quarter. US Bancorp DE now owns 643 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 458 shares during the period. Signaturefd LLC boosted its position in shares of Aerojet Rocketdyne by 109.4% in the 3rd quarter. Signaturefd LLC now owns 911 shares of the aerospace company’s stock valued at $36,000 after purchasing an additional 476 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Aerojet Rocketdyne by 588.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,053 shares of the aerospace company’s stock valued at $43,000 after purchasing an additional 900 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of Aerojet Rocketdyne in the 2nd quarter valued at about $49,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Aerojet Rocketdyne by 316.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,340 shares of the aerospace company’s stock valued at $54,000 after purchasing an additional 1,018 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Aerojet Rocketdyne Stock Performance

Shares of AJRD stock opened at $55.90 on Friday. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 62.11 and a beta of 0.57. The stock has a 50 day simple moving average of $55.99 and a 200-day simple moving average of $50.55. Aerojet Rocketdyne Holdings, Inc. has a 12-month low of $36.44 and a 12-month high of $56.59. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.53.

Aerojet Rocketdyne (NYSE:AJRD – Get Rating) last issued its earnings results on Wednesday, February 15th. The aerospace company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.25). The business had revenue of $648.20 million for the quarter, compared to analysts’ expectations of $615.73 million. Aerojet Rocketdyne had a return on equity of 21.00% and a net margin of 3.31%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted $0.43 earnings per share. On average, equities analysts forecast that Aerojet Rocketdyne Holdings, Inc. will post 1.99 EPS for the current year.

Aerojet Rocketdyne Profile

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