The Zacks Investment Research lowers the Stock rating of Aerojet Rocketdyne Holdings Inc. (AJRD)

The Zacks Investment Research lowers the Stock rating of Aerojet Rocketdyne Holdings Inc. (AJRD)

Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Aerojet Rocketdyne Holdings, Inc. focuses on developing military, civil and commercial systems and components for the aerospace and defense industry markets. Aerojet Rocketdyne Holdings, Inc., formerly known as GenCorp, Inc., is headquartered in Sacramento, California. “

Shares of Aerojet Rocketdyne Holdings (NYSE:AJRD) opened at 17.22 on Tuesday. The company’s 50-day moving average is $17.75 and its 200-day moving average is $17.69. Aerojet Rocketdyne Holdings has a 12-month low of $13.98 and a 12-month high of $19.50. The firm’s market capitalization is $1.20 billion.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. boosted its stake in Aerojet Rocketdyne Holdings by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,732,658 shares of the company’s stock valued at $28,381,000 after buying an additional 12,781 shares in the last quarter. Magnetar Financial LLC bought a new stake in Aerojet Rocketdyne Holdings during the first quarter valued at approximately $381,000. Rothschild Asset Management Inc. boosted its stake in Aerojet Rocketdyne Holdings by 16.3% in the second quarter. Rothschild Asset Management Inc. now owns 779,056 shares of the company’s stock valued at $14,241,000 after buying an additional 109,380 shares in the last quarter. Prudential Financial Inc. boosted its stake in Aerojet Rocketdyne Holdings by 1.7% in the first quarter. Prudential Financial Inc. now owns 156,257 shares of the company’s stock valued at $2,559,000 after buying an additional 2,600 shares in the last quarter. Finally, Boston Partners boosted its stake in Aerojet Rocketdyne Holdings by 10.8% in the second quarter. Boston Partners now owns 146,124 shares of the company’s stock valued at $2,671,000 after buying an additional 14,229 shares in the last quarter. 94.11% of the stock is currently owned by institutional investors and hedge funds.

Aerojet Rocketdyne Holdings Company Profile

GenCorp Inc, incorporated in 1915, is a manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the re-zoning, entitlement, sale, and leasing of its excess real estate assets. The Company develops and manufactures propulsion systems for defense and space applications, and armaments for precision tactical and long range weapon systems applications.

Related posts

Leave a Comment