Aerojet Rocketdyne

Nuclear Weapon Producers

Aerojet Rocketdyne Holdings Inc is involved in design, development and production of the Trident system for the U.S. & UK, and the Minuteman III system for the U.S.

Nuclear Weapons |  Investments (years compared) (2021) (2020) (2019)

Company Profile

Aerojet Rocketdyne (AR) Holdings, Inc, formerly GenCorp, based in the United States, is engaged in aerospace and military (through subsidiary Aerojet Rocketdyne) and real estate (Easton Real Estate).1 As of 31 December 2021, the relevant subsidiary of Aerojet Rocketdyne- Aerospace and Defence- had $6.8 billion in outstanding contracts.2 Aerojet Rocketdyne Holdings Inc is involved in design, development and production of land and sea-based nuclear ballistic missile systems for the US and UK arsenals. In the financial year ending 31 December 2021, Aerojet Rocketdyne Holdings, Inc reported net sales of $2,188 million, resulting in a net income of $143.7 million.3

In December 2020, Aerojet Rocketdyne entered into a merger agreement with Lockheed Martin. The merger was expected to be completed in the fourth quarter of 2021, and would have made Aerojet Rocketdyne Holdings, Inc a wholly owned subsidiary of Lockheed Martin. The US Federal Trade Commission filed a complaint to stop the merger, claiming the deal would give Lockheed Martin an unfair competitive advantage, and Lockheed Martin terminated the merger process in February 2022.4

Stock exchange listing

NYSE: AJRD

Contact information

Aerojet Rocketdyne Holdings Inc.
222 N. Pacific Coast Hwy, Suite 500
El Segundo, CA 90245
1-310-252-8100
Website: www.aerojetrocketdyne.com/ [/su_column]

Facebook: www.facebook.com/AerojetRdyne
Instagram: https://www.instagram.com/Aerojet_Rocketdyne/
LinkedIn: https://www.linkedin.com/company/aerojet-rocketdyne
Twitter: www.twitter.com/AerojetRdyne
YouTube: www.youtube.com/user/AerojetRocketdyne

Nuclear weapons

Aerojet Rocketdyne builds solid boost propulsion systems used in the land- and sea-based nuclear ballistic missile systems for the US and UK arsenals. It has powered every US intercontinental ballistic missile (ICBM) ever fielded, including Trident II D5 missiles and the Minuteman III.5 Aerojet Rocketdyne is also contracted to manufacture the Post Boost Control System Gas Generator Units for the Trident II D5 program.6

Aerojet Rocketdyne is developing the large solid rocket motor and the post-boost propulsion system and is responsible for the testing of post-boost system components for the Sentinel, the new US Ground Based Strategic Deterrent, as a key member of Northrop Grumman's nationwide GBSD team.7 The latter was awarded a $13.3 billion contract for the engineering and manufacturing of the GBSD in 2020, to be completed in February 2029.8 Aerojet Rocketdyne has an additional five-year, $20 million contract awarded in 2018 to produce solid boost technology for next generation US nuclear weapon systems.9

Aerojet Rocketdyne is furthermore involved in a billion-dollar strategic agreement with Raytheon for propulsion for a range of missiles, including further hypersonic missile developments.10 A this stage of the research and development it is still unclear whether those new missiles will carry a nuclear or conventional payload.

Aerojet Rocketdyne builds solid boost propulsion systems used in the land and sea-based nuclear ballistic missile systems for the U.S. and UK arsenals. It has powered every U.S. intercontinental ballistic missile (ICBM) ever fielded, including Trident II D5 missiles and the Minuteman III.11

Aerojet Rocketdyne will develop the large solid rocket motor and the post-boost propulsion system and will also be responsible for testing of post-boost system components for the new U.S. Ground Based Strategic Deterrent, the contract value has not been disclosed.12 It has an additional 5-year contract to produce solid boost technology for next generation U.S. nuclear weapon systems, under a $20 million contract awarded in 2018.13

Aerojet Rocketdyne is also involved in a billion-dollar strategic agreement with Raytheon for propulsion for a range of missiles, including further hypersonic missile developments.14

Aerojet Rocketdyne is also contracted to manufacture the Post Boost Control System Gas Generator Units for the Trident II D5 program.15

Aerojet Rocketdyne supplies the boost propulsion systems for all of the current US nuclear weapon systems, including Trident II D5 missiles and the Minuteman III. 16 In 2018, Aerojet Rocketdyne secured an additional five-year contract for $20 million for solid boost technology that will be applied to the next generation of weapons systems. 17 Aerojet Rocketdyne is also a subcontractor on the new Ground Based Strategic Deterrent. 18  Aerojet Rocketdyne has also entered into a billion-dollar strategic agreement with Raytheon for propulsion for a range of missiles, including further hypersonic missile developments. 19

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Investments

Investments compared

Click on the institution to see if and how they've invested in the past. Red indicates a new investor in 2021. Green indicates investors that ended their involvement by 2021.

2022 Investments

2022

InvestorCountryBondholdingLoansShareholdingGrand total
American Century InvestmentsUnited States$21.2$21.2
Ameriprise FinancialUnited States$28.9$28.9
Apollo Global ManagementUnited States$50.0$50.0
AQR Capital ManagementUnited States$19.9$19.9
Arrowstreet CapitalUnited States$18.3$18.3
Balyasny Asset ManagementUnited States$35.0$35.0
Bank of AmericaUnited States$341.7$341.7
Bank of New York MellonUnited States$30.0$23.4$53.4
Beach Point Capital ManagementUnited States$50.0$50.0
BlackRockUnited States$507.8$507.8
Capital One FinancialUnited States$45.6$45.6
Cathay General BancorpUnited States$37.2$37.2
Charles SchwabUnited States$29.4$29.4
Citizens Financial GroupUnited States$45.6$45.6
D.E. Shaw & Co.United States$21.9$21.9
Dimensional Fund AdvisorsUnited States$66.5$66.5
Fifth Third BancorpUnited States$45.6$45.6
Gabelli FundsUnited States$188.1$188.1
Gamco InvestmentsUnited States$20.3$20.3
Geode Capital Holdings
United States$50.0$50.0
InvescoUnited States$19.5$19.5
JPMorgan ChaseUnited States$45.6$45.6
KeyCorpUnited States$45.6$45.6
Melqart Asset ManagementUnited Kingdom$26.7$26.7
Millennium ManagementUnited States$180.5$180.5
Mitsubishi UFJ FinancialJapan$45.6$45.6
Morgan Stanley
United States$76.8$76.8
Northern TrustUnited States$27.4$27.4
Nuance InvestmentsUnited States$92.5$92.5
Opus Corporate Finance LLPUnited Kingdom$37.2$37.2
Owl Creek Asset ManagementUnited States$27.3$27.3
Principal Financial GroupUnited States$19.9$19.9
Regions Financial
United States$45.6$45.6
Reinhart PartnersUnited States$55.1$55.1
Royal Bank of CanadaCanada$45.6$45.6
Sather FinancialUnited States$34.9$34.9
SMBC GroupJapan$37.2$37.2
State StreetUnited States$162.7$162.7
Steel Partners HoldingsUnited States$164.0$164.0
Thrivent FinancialUnited States$4.5$4.5
Truist FinancialUnited States$45.6$45.6
Two Sigma InvestmentsUnited States$62.8$62.8
US BancorpUnited States$45.6$45.6
VanguardUnited States$322.0$322.0
Voya FinancialUnited States$18.1$18.1
Water Island CapitalUnited States$28.6$28.6
Wells FargoUnited States$45.6$45.6
Zions BancorporationUnited States$45.6$45.6
Grand total$45.6$1,130.0$2,349.5$3,484.0
2021 Investments

2021

59 Financial institutions made $4,847.6 million available in the research period January 2019- January 2021.

All forms of financing meeting the definition of substantive financial relationships are included in the report. This comprises financial institutions participating in loans and underwriting deals since 1 January 2019, as well as those involved in loans which have been closed before that date but have not yet matured before 1 October 2020. For (managing) investments in shares or bonds of arms companies, a group-level threshold of at least 0.5% of the outstanding shares or bonds at most recent filing dates is applied per financial institution.

2020 Investments

2020

58 Financial institutions made $5,147.64 million available in the research period January 2018-2020.


This comprises financial institutions participating in loans and underwriting deals since 1 January 2018, as well as those involved in loans which have been closed before that date but have not yet matured before 1 October 2019. For (managing) investments in shares or bonds of arms companies, a group-level threshold of at least 0.5% of the outstanding shares or bonds at most recent filing dates is applied per financial institution.

2019 Investments

2019

58 Financial institutions made $5,147.64 million available in the research period January 2017-2019.

This comprises financial institutions participating in loans and underwriting deals since 1 January 2017, as well as those involved in loans which have been closed before that date but have not yet matured before 1 October 2018. For (managing) investments in shares or bonds of arms companies, a group-level threshold of at least 0.5% of the outstanding shares or bonds at most recent filing dates is applied per financial institution.

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Last updated: 2023-05-22 16:08:32

Notes

  1. About Us (2022) | Aerojet Rocketdyne Holdings, Inc.. Available at: https://www.aerojetrocketdyne.com/about-us.
  2. ‘Aerojet Rocketdyne Holdings, Inc. Annual Report on Form 10-K For the Year Ended December 31, 2021’, Aerojet Rocketdyne Holdings (2021), Inc., p. 26. Available at: https://ir.aerojetrocketdyne.com/static-files/d3fafa83-96f7-4f85-ad1a-2b3744943514.
  3. ‘Aerojet Rocketdyne Holdings, Inc. Annual Report on Form 10-K For the Year Ended December 31, 2021’, Aerojet Rocketdyne Holdings (2021), Inc., p. 20. Available at: https://ir.aerojetrocketdyne.com/static-files/d3fafa83-96f7-4f85-ad1a-2b3744943514.
  4. Ibid, p. 1;
    ‘Lockheed scraps $4.4 billion deal to buy Aerojet amid regulatory roadblocks’, Reuters, 14 February 2022. Available at: https://www.reuters.com/business/aerospace-defense/lockheed-martin-terminates-44-bln-deal-acquire-aerojet-rocketdyne-2022-02-13/.
  5. Strategic Systems (2022) | Aerojet Rocketdyne. Available at: Strategic Systems | Aerojet Rocketdyne; ICBM Post boost Vehicles (2022) | Aerojet Rocketdyne. Available at: https://www.rocket.com/defense/lgm-35a-sentinel/icbm-post-boost-vehicles.
  6. Strategic Systems (2022) | Aerojet Rocketdyne. Available at: Strategic Systems | Aerojet Rocketdyne.
  7. AEROJET ROCKETDYNE SELECTED TO POWER NATION’S NEXT GENERATION STRATEGIC DETERRENT, Aerojet Rocketdyne, 8 September 2020. Available at: Aerojet Rocketdyne Selected to Power Nation’s Next Generation Strategic Deterrent | Aerojet Rocketdyne Holdings, Inc. (Accessed: 8 September 2022); ‘Aerojet Rocketdyne Holdings, Inc. Annual Report on Form 10-K For the Year Ended December 31, 2020.’ Aerojet Rocketdyne Holdings, Inc (2020), p. 3. Available at: https://ir.aerojetrocketdyne.com/node/25406/html.
  8. Contracts for September 8, 2020 (2020) U.S. Department of Defense. Available at:> U.S. Department of Defense > Contract (Accessed: 8 September 2022).
  9. Contracts for January 16, 2018 (2018) U.S. Department of Defense. Available at: > U.S. Department of Defense > Contract  (Accessed: 18 August 2022).
  10. Aerojet Rocketdyne, ‘2019 Annual Report’, Aerojet Rocketdyne (2020). Available at: https://ir.aerojetrocketdyne.com/static-files/eeac3738-afdd-4c4c-a417-aac182859420.
  11. Aerojet Rocketdyne, ‘Ground Based Strategic Deterrent (GBSD) | Aerojet Rocketdyne’. https://www.rocket.com/defense/ground-based-strategic-deterrent-gbsd (accessed May 15, 2021).
  12. Aerojet Rocketdyne, “AEROJET ROCKETDYNE SELECTED TO POWER NATION’S NEXT GENERATION STRATEGIC DETERRENT”, website Aerojet Rocketdyne. 8 September 2020 (https://ir.aerojetrocketdyne.com/news-releases/news-release-details/aerojet-rocketdyne-selected-power-nations-next-generation), last viewed February 2021; Aerojet Rocketdyne, “Aerojet Rocketdyne Holdings, Inc. Annual Report on Form 10-K For the Year Ended December 31, 2020”, website Aerojet Rocketydyne (https://ir.aerojetrocketdyne.com/node/25406/html), viewed February 2021.
  13. U.S. Department of Defense, “Daily contract list – Contract FA9300-18-D-0002”, Website U.S. Department of Defense, 16 January 2018 (https://dod.defense.gov/News/Contracts/Contract-View/Article/1416414/), accessed February 2020.
  14. Aerojet Rocketdyne, “2019 Annual Report”, available: https://ir.aerojetrocketdyne.com/static-files/eeac3738-afdd-4c4c-a417-aac182859420, viewed September 2020.
  15. Aerojet Rocketdyne, “Strategic Systems”, Website Aerojet Rocketdyne (https://www.rocket.com/defense/strategic-systems), viewed October 2021.
  16. Aerojet Rocketdyne, “Strategic Systems”, Website Aerojet Rocketdyne (https://www.rocket.com/defense/strategic-systems), viewed February 2020.
  17. U.S. Department of Defense, “Daily contract list – Contract FA9300-18-D-0002”, Website U.S. Department of Defense, 16 January 2018 (https://dod.defense.gov/News/Contracts/Contract-View/Article/1416414/), accessed February 2020.
  18. Stevenson, B., “Aerojet Rocketdyne begins development of new Arkansas rocket motor facility”, Jane's Defence Industry, 26 April 2019. Available: https://www.janes.com/article/88106/aerojet-rocketdyne-begins-development-of-new-arkansas-rocket-motor-facility. Viewed January 2020; Aerojet Rocketdyne, “Aerojet Rocketdyne Expands Solid Rocket Motor Center Of Excellence At Arkansas Facility”, website Aerojet Rocketdyne (https://www.rocket.com/article/aerojet-rocketdyne-expands-solid-rocket-motor-center-excellence-arkansas-facility), accessed February 2020.
  19. Aerojet Rocketdyne, “2019 Annual Report”, available: https://ir.aerojetrocketdyne.com/static-files/eeac3738-afdd-4c4c-a417-aac182859420, viewed September 2020.