Can Elliott Management Save Aerojet Rocketdyne (AJRD) Stock? Source: Shutterstock Aerojet Rocketdyne (NYSE: AJRD ) stock is receiving some additional attention today on news that Elliott Investment Management recently purchased substantial equity in the rocket maker. Elliott now owns a 3.7% stake in AJRD stock, adding to the fund’s rolodex of acquisition interests. Known for being one of the only independent U.S. rocket makers left, Aerojet has been in flux this year. For one, the company underwent something of a civil war this past January when former Chairman Warren Lichtenstein attempted a hostile takeover via his hedge fund, Steel Partners (NYSE: SPLP ). This takeover ended in strife, as Lichtenstein and CEO Eileen Drake exchanged heated public missives slandering each other’s integrity and competency. Per a statement from Drake in May, Lichtenstein and Steel Partners have continued to pursue a takeover of Aerojet, even as Drake levies grave reprimands. This news also ended up leading the way for yet another failed Aerojet takeover attempt from Lockheed Martin (NYSE: LMT ) in February.