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Aerojet Rocketdyne board approves share buyback program of up to $100 million

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Aerojet Rocketdyne Holdings Inc. AJRD, -1.37% said Friday its board has approved a share buyback program of up to $100 million. The El Segundo, Calif.-based company. which makes technology for aerospace and defense systems., said it will use the program to buy shares over time for 18 months. Shares rose 2.7% premarket and are up 11% in the last 12 months, while the s&P 500 SPX, -2.92% has fallen 12%.

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