Principal Financial Group Inc. Reduces Stock Position in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD)

Principal Financial Group Inc. cut its stake in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,212,978 shares of the aerospace company’s stock after selling 36,035 shares during the period. Principal Financial Group Inc.’s holdings in Aerojet Rocketdyne were worth $55,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AJRD. Penserra Capital Management LLC boosted its holdings in shares of Aerojet Rocketdyne by 33.2% in the third quarter. Penserra Capital Management LLC now owns 1,007 shares of the aerospace company’s stock worth $50,000 after buying an additional 251 shares during the last quarter. US Bancorp DE boosted its stake in shares of Aerojet Rocketdyne by 43.7% during the 4th quarter. US Bancorp DE now owns 1,178 shares of the aerospace company’s stock worth $54,000 after acquiring an additional 358 shares during the last quarter. First Mercantile Trust Co. bought a new stake in shares of Aerojet Rocketdyne during the 3rd quarter valued at $109,000. Welch Group LLC bought a new stake in shares of Aerojet Rocketdyne during the 4th quarter valued at $137,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Aerojet Rocketdyne by 21.9% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 3,408 shares of the aerospace company’s stock valued at $172,000 after acquiring an additional 612 shares during the period.

NYSE:AJRD traded up $0.60 during trading hours on Friday, hitting $56.10. 6,786 shares of the stock traded hands, compared to its average volume of 649,323. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.71. Aerojet Rocketdyne Holdings Inc has a 1 year low of $30.11 and a 1 year high of $55.86. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 5.10 and a beta of 0.34. The stock has a 50 day moving average price of $51.39 and a 200 day moving average price of $48.33.

AJRD has been the topic of a number of recent research reports. Jefferies Financial Group raised Aerojet Rocketdyne from a “hold” rating to a “buy” rating and raised their target price for the stock from $43.00 to $57.00 in a report on Tuesday, January 7th. ValuEngine upgraded Aerojet Rocketdyne from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.20.

About Aerojet Rocketdyne

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.

Further Reading: What is a Call Option?

Want to see what other hedge funds are holding AJRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aerojet Rocketdyne Holdings Inc (NYSE:AJRD).

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

Receive News & Ratings for Aerojet Rocketdyne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerojet Rocketdyne and related companies with MarketBeat.com's FREE daily email newsletter.