Bowen Hanes & Co. Inc. Purchases Shares of 2,832,000 Rolls-Royce Holdings PLC $RYCEY

Key Points

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Bowen Hanes & Co. Inc. bought a new stake in Rolls-Royce Holdings PLC (OTCMKTS:RYCEY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,832,000 shares of the aerospace company's stock, valued at approximately $27,782,000.

A number of other large investors also recently made changes to their positions in the business. First Horizon Advisors Inc. increased its holdings in shares of Rolls-Royce Holdings PLC by 31.8% during the 1st quarter. First Horizon Advisors Inc. now owns 8,526 shares of the aerospace company's stock worth $84,000 after buying an additional 2,055 shares during the last quarter. Financial Avengers Inc. increased its holdings in shares of Rolls-Royce Holdings PLC by 32.6% during the 4th quarter. Financial Avengers Inc. now owns 28,500 shares of the aerospace company's stock worth $203,000 after buying an additional 7,000 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Rolls-Royce Holdings PLC by 14.7% during the 1st quarter. GAMMA Investing LLC now owns 29,344 shares of the aerospace company's stock worth $288,000 after buying an additional 3,771 shares during the last quarter. Finally, L & S Advisors Inc acquired a new stake in shares of Rolls-Royce Holdings PLC during the 1st quarter worth $2,427,000. Hedge funds and other institutional investors own 0.07% of the company's stock.

Rolls-Royce Holdings PLC Stock Performance

OTCMKTS:RYCEY traded up $0.20 on Friday, reaching $14.24. The stock had a trading volume of 1,303,126 shares, compared to its average volume of 3,586,496. The company has a 50-day moving average of $13.55 and a 200 day moving average of $11.21. Rolls-Royce Holdings PLC has a 12-month low of $6.04 and a 12-month high of $15.16.

Rolls-Royce Holdings PLC Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.0596 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a dividend yield of 97.0%.

Wall Street Analyst Weigh In

Separately, Kepler Capital Markets downgraded Rolls-Royce Holdings PLC from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

About Rolls-Royce Holdings PLC

Rolls-Royce Holdings plc develops and delivers complex power and propulsion solutions for air, sea, and land in the United Kingdom and internationally. The company operates through four segments: Civil Aerospace, Defence, Power Systems, and New Markets. The Civil Aerospace segment develops, manufactures, markets, and sells aero engines for large commercial aircraft, regional jet, and business aviation markets, as well as provides aftermarket services.