Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research 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. “

Separately, BidaskClub downgraded Aerojet Rocketdyne Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th.

Aerojet Rocketdyne Holdings (NYSE:AJRD) traded down 0.33% during trading on Tuesday, reaching $26.97. 558,389 shares of the company traded hands. Aerojet Rocketdyne Holdings has a 12 month low of $16.04 and a 12 month high of $27.49. The company’s 50-day moving average is $22.25 and its 200 day moving average is $21.18. The company has a market cap of $2.01 billion, a PE ratio of 99.89 and a beta of 1.53.

Aerojet Rocketdyne Holdings (NYSE:AJRD) last posted its earnings results on Thursday, August 3rd. The aerospace company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.17. The company had revenue of $459.60 million during the quarter, compared to the consensus estimate of $433.71 million. Aerojet Rocketdyne Holdings had a return on equity of 153.06% and a net margin of 2.00%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 earnings per share. On average, analysts anticipate that Aerojet Rocketdyne Holdings will post $0.86 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Texas Permanent School Fund increased its position in shares of Aerojet Rocketdyne Holdings by 0.5% in the second quarter. Texas Permanent School Fund now owns 54,440 shares of the aerospace company’s stock valued at $1,132,000 after buying an additional 285 shares during the last quarter. Malaga Cove Capital LLC increased its position in shares of Aerojet Rocketdyne Holdings by 0.3% in the second quarter. Malaga Cove Capital LLC now owns 118,351 shares of the aerospace company’s stock valued at $2,474,000 after buying an additional 315 shares during the last quarter. Glen Harbor Capital Management LLC increased its position in shares of Aerojet Rocketdyne Holdings by 10.6% in the first quarter. Glen Harbor Capital Management LLC now owns 5,338 shares of the aerospace company’s stock valued at $116,000 after buying an additional 510 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Aerojet Rocketdyne Holdings by 9.7% in the first quarter. State of Alaska Department of Revenue now owns 8,260 shares of the aerospace company’s stock valued at $179,000 after buying an additional 730 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Aerojet Rocketdyne Holdings by 1.3% in the first quarter. Teachers Advisors LLC now owns 101,023 shares of the aerospace company’s stock valued at $2,192,000 after buying an additional 1,310 shares during the last quarter. 93.41% of the stock is owned by hedge funds and other institutional investors.

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.

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