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 large growth in short interest during the month of 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 volume of 1,080,000 shares, the short-interest ratio is currently 2.3 days. Currently, 3.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Aerojet Rocketdyne

Institutional investors have recently modified their holdings of the business. US Bancorp DE grew its position in shares of Aerojet Rocketdyne by 247.6% during the 1st quarter. US Bancorp DE now owns 643 shares of the aerospace company’s stock worth $26,000 after buying an additional 458 shares during the period. Parkside Financial Bank & Trust grew its position in shares of Aerojet Rocketdyne by 307.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 700 shares of the aerospace company’s stock worth $28,000 after buying an additional 528 shares during the period. Signaturefd LLC grew its holdings in Aerojet Rocketdyne by 109.4% during the third 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 grew its holdings in Aerojet Rocketdyne by 588.2% during the second 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. Finally, SeaCrest Wealth Management LLC acquired a new position in Aerojet Rocketdyne during the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Aerojet Rocketdyne Trading Up 0.1 %

Shares of NYSE AJRD opened at $56.12 on Monday. Aerojet Rocketdyne has a 1-year low of $35.47 and a 1-year high of $56.53. The company has a market cap of $4.52 billion, a PE ratio of 48.38 and a beta of 0.54. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average of $54.14 and a two-hundred day moving average of $47.14.

Aerojet Rocketdyne (NYSE:AJRDGet Rating) last announced its earnings results on Tuesday, November 1st. The aerospace company reported $0.45 earnings per share 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 period in the previous year, the firm posted $0.58 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, equities analysts expect that Aerojet Rocketdyne will post 1.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AJRD. Jefferies Financial Group downgraded shares of Aerojet Rocketdyne from a “buy” rating to a “hold” rating and cut their price target for the company from $62.00 to $58.00 in a report on Monday, December 19th. StockNews.com began coverage on shares of Aerojet Rocketdyne in a report on Wednesday, October 12th. They set a “hold” rating for the company. JPMorgan Chase & Co. downgraded shares of Aerojet Rocketdyne from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $54.00 to $58.00 in a report on Tuesday, December 20th. Finally, Truist Financial boosted their target price on shares of Aerojet Rocketdyne from $45.00 to $58.00 in a research note on Monday, January 9th.

About Aerojet Rocketdyne

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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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