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HUNTSVILLE, Ala., March 27, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne has been awarded a new contract by Lockheed Martin to produce additional solid rocket motors and Divert and Attitude Control Systems (DACS) for the Terminal High Altitude Area Defense (THAAD) weapon system for the Missile Defense Agency. The contract includes interceptor propulsion for U.S. government lots 13/14 as well as Foreign Military Sales. THAAD is one of the nation’s primary defenses against short, medium and intermediate-range missiles.

HUNTSVILLE, Ala., March 23, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne continues to improve its processes to deliver advanced solid rocket motors to Lockheed Martin to power the Army’s Guided Multiple Launch Rocket System (GMLRS).

I believe the L3Harris Technologies and Aerojet Rocketdyne deal will be approved. Check out why I rate AJRD stock as a buy.

Aerojet Rocketdyne Holdings said Thursday its stockholders voted to approve the company’s proposed acquisition by L3Harris Technologies. The vote was 99.7% in favor of the transaction. “The shareholder vote represents a key milestone in the acquisition process, and integration planning is underway,” said L3Harris Chair and CEO Christopher E. Kubasik. “We continue to respond to Federal Trade Commission inquiries as we move toward an expeditious closing.” The two companies, which have facilities in Huntsville, announced an in December for the $4.7 billion all-cash transaction. L3Harris, the nation’s sixth-largest contractor, said it was paying $58 per share in the deal. “We are pleased with the strong support of our stockholders for this transaction with L3Harris,” said Eileen P. Drake, CEO and president of Aerojet Rocketdyne. “Today’s stockholder approval is another milestone in the process of bringing together our two world-class organizations to accelerate innovation and strengthen competition for national security and space exploration propulsion solutions. “We remain focused on completing this transaction and delivering the significant expected benefits for our employees, customers, partners and the communities in which we operate.” On Wednesday, L3Harris Technologies received a request for additional information from the Federal Trade Commission as part of the regulatory review process for the acquisition of Aerojet Rocketdyne.

Aerojet Rocketdyne Holdings (AJRD) stockholders have approved the proposed acquisition by L3Harris Technologies (LHX) in a special meeting held on Thursday.

HUNTSVILLE, Ala., March 27, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne has been awarded a new contract by Lockheed Martin to produce additional solid rocket motors and Divert and Attitude Control Systems (DACS) for the Terminal High Altitude Area Defense (THAAD) weapon system for the Missile Defense Agency. The contract includes interceptor propulsion for U.S. government lots 13/14 as well as Foreign Military Sales. THAAD is one of the nation’s primary defenses against short, medium and intermediate-range missiles.

HUNTSVILLE, Ala., March 23, 2023 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne continues to improve its processes to deliver advanced solid rocket motors to Lockheed Martin to power the Army’s Guided Multiple Launch Rocket System (GMLRS).

I believe the L3Harris Technologies and Aerojet Rocketdyne deal will be approved. Check out why I rate AJRD stock as a buy.

Aerojet Rocketdyne Holdings said Thursday its stockholders voted to approve the company’s proposed acquisition by L3Harris Technologies. The vote was 99.7% in favor of the transaction. “The shareholder vote represents a key milestone in the acquisition process, and integration planning is underway,” said L3Harris Chair and CEO Christopher E. Kubasik. “We continue to respond to Federal Trade Commission inquiries as we move toward an expeditious closing.” The two companies, which have facilities in Huntsville, announced an in December for the $4.7 billion all-cash transaction. L3Harris, the nation’s sixth-largest contractor, said it was paying $58 per share in the deal. “We are pleased with the strong support of our stockholders for this transaction with L3Harris,” said Eileen P. Drake, CEO and president of Aerojet Rocketdyne. “Today’s stockholder approval is another milestone in the process of bringing together our two world-class organizations to accelerate innovation and strengthen competition for national security and space exploration propulsion solutions. “We remain focused on completing this transaction and delivering the significant expected benefits for our employees, customers, partners and the communities in which we operate.” On Wednesday, L3Harris Technologies received a request for additional information from the Federal Trade Commission as part of the regulatory review process for the acquisition of Aerojet Rocketdyne.

Aerojet Rocketdyne Holdings (AJRD) stockholders have approved the proposed acquisition by L3Harris Technologies (LHX) in a special meeting held on Thursday.

Aerojet Rocketdyne Holdings Inc (AJRD) shares closed today at 0.6% below its 52 week high of $56.59, giving the company a market cap of $4B. The stock is currently up 0.4% year-to-date, up 51.9% over the past 12 months, and up 127.0% over the past five years. This week, the Dow Jones Industrial Average fell 3.0%, and the S&P 500 fell 2.7%. Trading Activity Trading volume this week was 6.2% higher than the 20-day average.Beta, a measure of the stock’s volatility relative to the overall market stands at 0.5. Technical Indicators The Relative Strength Index (RSI) on the stock was between 30 and 70.MACD, a trend-following momentum indicator, indicates an upward trend.The stock closed below its Bollinger band, indicating it may be oversold. Market Comparative Performance The company's share price is the same as the S&P 500 Index , beats it on a 1-year basis, and beats it on a 5-year basis The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and beats it on a 5-year basis The company share price is the same as the performance of its peers in the Information Technology industry sector , beats it on a 1-year basis, and beats it on a 5 year basis Per Group Comparative Performance The company's stock price performance year-to-date lags the peer average by -97.1% The company's stock price performance over the past 12 months beats the peer average by 2083.0% The company's price-to-earnings ratio, which relates a company's share price to its earnings per share, is 139.4% higher than the average peer. This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.

HUNTSVILLE, Ala., Feb. 27, 2023 (GLOBE NEWSWIRE) -- As company investments enable significant increases in production, Aerojet Rocketdyne has now delivered the 830,000th Attitude Control Motor (ACM) for Patriot missile system variants, including the Patriot Advanced Capability-3 (PAC-3) Missile Segment Enhancement (MSE).

Aerojet Rocketdyne has some upside left. AJRD stock could be a sell, since taking profits and deploying cash elsewhere might yield higher returns. Read more here.

HUNTSVILLE, Ala., Feb. 22, 2023 (GLOBE NEWSWIRE) -- In partnership with the Defense Advanced Research Projects Agency (DARPA), Air Force Research Laboratory (AFRL) and Lockheed Martin team, an advanced Aerojet Rocketdyne scramjet engine powered the recent flight (announced Jan. 30) of the Hypersonic Air-breathing Weapon Concept (HAWC). This is the second successful flight test for this team. Launched from a B-52, the test flight exceeded Mach 5 while traveling more than 300 nautical miles at altitudes exceeding 60,000 feet, accomplishing all primary test objectives. The goal of the DARPA HAWC program is to develop and demonstrate critical technologies to enable … Full story available on Benzinga.com

HUNTSVILLE, Ala., Feb. 22, 2023 (GLOBE NEWSWIRE) -- In partnership with the Defense Advanced Research Projects Agency (DARPA), Air Force Research Laboratory (AFRL) and Lockheed Martin team, an advanced Aerojet Rocketdyne scramjet engine powered the recent flight (announced Jan. 30) of the Hypersonic Air-breathing Weapon Concept (HAWC). This is the second successful flight test for this team.