Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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) traded down 1.64% during midday trading on Tuesday, reaching $17.39. 193,627 shares of the company traded hands. The company has a 50 day moving average of $17.79 and a 200 day moving average of $17.69. The firm’s market capitalization is $1.21 billion. Aerojet Rocketdyne Holdings has a 12 month low of $13.98 and a 12 month high of $19.50.
Institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas raised its position in shares of 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 valued at $131,000 after buying an additional 870 shares during the period. PineBridge Investments L.P. raised 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 valued at $149,000 after buying an additional 286 shares during the last quarter. BlackRock Inc. raised 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 valued at $192,000 after buying an additional 6,277 shares during the last quarter. Mason Street Advisors LLC acquired a new stake in Aerojet Rocketdyne Holdings during the second quarter valued at about $230,000. Finally, Leavell Investment Management Inc. acquired a new stake in Aerojet Rocketdyne Holdings during the second quarter valued at about $256,000. 94.11% 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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