Municipal Employees Retirement System of Michigan Has $966,000 Holdings in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD)

Municipal Employees Retirement System of Michigan lifted its position in shares of Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) by 2.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 21,570 shares of the aerospace company’s stock after purchasing an additional 450 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Aerojet Rocketdyne were worth $966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Manchester Capital Management LLC acquired a new stake in Aerojet Rocketdyne in the first quarter worth $36,000. NEXT Financial Group Inc acquired a new stake in Aerojet Rocketdyne in the second quarter worth $43,000. Pearl River Capital LLC acquired a new stake in Aerojet Rocketdyne in the first quarter worth $64,000. Osborn Williams & Donohoe LLC acquired a new stake in Aerojet Rocketdyne in the first quarter worth $82,000. Finally, Nikko Asset Management Americas Inc. grew its holdings in Aerojet Rocketdyne by 383.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 5,024 shares of the aerospace company’s stock worth $179,000 after purchasing an additional 3,985 shares during the period.

Shares of NYSE AJRD opened at $48.55 on Friday. The stock has a market capitalization of $3.82 billion, a P/E ratio of 25.16, a P/E/G ratio of 4.67 and a beta of 0.55. The company has a 50-day moving average price of $46.04 and a 200-day moving average price of $39.27. Aerojet Rocketdyne Holdings Inc has a 1 year low of $29.40 and a 1 year high of $50.99. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.53 and a quick ratio of 1.53.

Aerojet Rocketdyne (NYSE:AJRD) last issued its quarterly earnings data on Wednesday, July 31st. The aerospace company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $485.00 million during the quarter, compared to analysts’ expectations of $473.98 million. Aerojet Rocketdyne had a net margin of 8.95% and a return on equity of 30.58%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. As a group, equities research analysts anticipate that Aerojet Rocketdyne Holdings Inc will post 1.9 earnings per share for the current fiscal year.

In related news, Director Martin Turchin sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $47.57, for a total transaction of $237,850.00. Following the transaction, the director now directly owns 80,650 shares of the company’s stock, valued at $3,836,520.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas A. Corcoran sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $48.94, for a total transaction of $489,400.00. Following the transaction, the director now directly owns 4,032 shares in the company, valued at $197,326.08. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

A number of equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Aerojet Rocketdyne from a “sell” rating to a “hold” rating and set a $52.00 price target for the company in a report on Friday, August 2nd. Canaccord Genuity assumed coverage on shares of Aerojet Rocketdyne in a report on Friday, June 28th. They issued a “buy” rating and a $50.00 price target for the company. ValuEngine upgraded shares of Aerojet Rocketdyne from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. Finally, SunTrust Banks raised their price target on shares of Aerojet Rocketdyne to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Aerojet Rocketdyne presently has an average rating of “Buy” and an average price target of $52.33.

Aerojet Rocketdyne Profile

Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates through two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors.

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Institutional Ownership by Quarter for Aerojet Rocketdyne (NYSE:AJRD)

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