Zacks Investment Research upgraded shares of Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) from a hold rating to a buy rating in a report released on Tuesday morning. The brokerage currently has $20.00 target price on the stock.
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 17.58 on Tuesday. Aerojet Rocketdyne Holdings has a 1-year low of $13.98 and a 1-year high of $19.50. The stock’s 50 day moving average price is $17.82 and its 200-day moving average price is $17.61. The stock’s market cap is $1.22 billion.
Hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in Aerojet Rocketdyne Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 7,173 shares of the company’s stock worth $131,000 after buying an additional 870 shares during the last quarter. PineBridge Investments L.P. increased its stake in Aerojet Rocketdyne Holdings by 3.6% in the second quarter. PineBridge Investments L.P. now owns 8,155 shares of the company’s stock worth $149,000 after buying an additional 286 shares during the last quarter. BlackRock Inc. increased its stake in Aerojet Rocketdyne Holdings by 147.0% in the second quarter. BlackRock Inc. now owns 10,548 shares of the company’s stock worth $192,000 after buying an additional 6,277 shares during the last quarter. Legal & General Group Plc increased its stake in Aerojet Rocketdyne Holdings by 4.6% in the first quarter. Legal & General Group Plc now owns 13,491 shares of the company’s stock worth $222,000 after buying an additional 593 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in Aerojet Rocketdyne Holdings during the second quarter worth about $230,000. 94.11% of the stock is currently owned by institutional investors and hedge funds.
About Aerojet Rocketdyne Holdings
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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