AJRD Stock Recent News
AJRD LATEST HEADLINES
The acquisition of Aerojet Rocketdyne by L3Harris Technologies has been finalized. Opposition to the merger by Sen. Elizabeth Warren was driven by anti-consolidation and anti-corporate sentiment, rather than fact-driven concerns about competition. Investors should consider the remaining upside of a stock set to be bought against the time remaining for the transaction to close and the opportunities offered by the market.
STEEL PARTNERS HOLDINGS L.P. (Trades, Portfolio), a prominent investment firm, recently made a significant transaction in its portfolio.
Aerojet Rocketdyne's (AJRD) advanced propulsion solution to assist Lockheed in developing Long Range Maneuverable Fires missiles.
Aerojet Rocketdyne (AJRD) Q1 sales of $566.3 million rise 10.8% from the year-ago quarter's $511.1 million. The top line misses the Zacks Consensus Estimate by 4.8%.
Aerojet Rocketdyne Holdings (AJRD) came out with quarterly earnings of $0.43 per share, missing the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.44 per share a year ago.
Aerojet Rocketdyne says it's received a $67 million contract award from Lockheed Martin to provide propulsion systems for the Orion spacecraft that'll carry astronauts to the moon during three missions planned for the 2030s.
AJRD signs a $215.6 million cooperative agreement with the Department of Defense to augment rocket propulsion manufacturing capacity.
Space investors got bad news when Virgin Orbit announced furloughs and an "operational pause" last week. This week, we learned the company is looking to sell itself before it goes insolvent.
I expect the deal to close, as it aligns with the US DoD objectives. The delay caused by the FTC's request for additional information should not have significant impacts.
Aerojet Rocketdyne stock has around 3% upside left. I believe opposition to the merger with L3Harris Technologies is not justified or supported by the reality of the business strengths of the companies.