Zacks Investment Research lowered shares of Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

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. “

Aerojet Rocketdyne Holdings (NYSE:AJRD) opened at 17.28 on Tuesday. The stock’s market cap is $1.20 billion. Aerojet Rocketdyne Holdings has a 12-month low of $13.98 and a 12-month high of $19.50. The firm’s 50 day moving average price is $17.77 and its 200-day moving average price is $17.69.

Several institutional investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its position in shares of Aerojet Rocketdyne Holdings by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,732,658 shares of the company’s stock valued at $28,381,000 after buying an additional 12,781 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Aerojet Rocketdyne Holdings during the first quarter worth about $381,000. Rothschild Asset Management Inc. raised its stake in Aerojet Rocketdyne Holdings by 16.3% in the second quarter. Rothschild Asset Management Inc. now owns 779,056 shares of the company’s stock worth $14,241,000 after buying an additional 109,380 shares during the period. Prudential Financial Inc. raised its stake in Aerojet Rocketdyne Holdings by 1.7% in the first quarter. Prudential Financial Inc. now owns 156,257 shares of the company’s stock worth $2,559,000 after buying an additional 2,600 shares during the period. Finally, Boston Partners raised its stake in Aerojet Rocketdyne Holdings by 10.8% in the second quarter. Boston Partners now owns 146,124 shares of the company’s stock worth $2,671,000 after buying an additional 14,229 shares during the period. Hedge funds and other institutional investors own 94.11% of the company’s stock.

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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