Bowen Hanes & Co. Inc. Purchases 1,211,310 Shares of Rolls-Royce Holdings PLC $RYCEY

Key Points

• Bowen Hanes & Co. Inc. increased its stake in Rolls‑Royce Holdings PLC (OTCMKTS: RYCEY) by 42.8% in Q2, buying 1,211,310 shares to hold 4,043,310 shares valued at about $54.1 million.
• Analyst sentiment is broadly positive with an average rating of "Moderate Buy"; Royal Bank of Canada started coverage at "Outperform," Goldman Sachs at "Buy," and the current mix is 1 Strong Buy, 2 Buy, and 3 Hold ratings.
• The stock opened at $13.70 (down 1.7% on the day) and trades within a 1‑year range of $6.72–$16.27, with a 50‑day simple moving average of $15.31 and a 200‑day SMA of $13.86.

Bowen Hanes & Co. Inc. raised its position in shares of Rolls-Royce Holdings PLC (OTCMKTS:RYCEY - Free Report) by 42.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,043,310 shares of the aerospace company's stock after purchasing an additional 1,211,310 shares during the quarter. Bowen Hanes & Co. Inc.'s holdings in Rolls-Royce Holdings PLC were worth $54,099,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RYCEY. L & S Advisors Inc bought a new stake in shares of Rolls-Royce Holdings PLC during the 1st quarter valued at $2,427,000. Torray Investment Partners LLC bought a new stake in Rolls-Royce Holdings PLC during the second quarter valued at about $669,000. Sterling Investment Advisors Ltd. purchased a new position in shares of Rolls-Royce Holdings PLC in the second quarter valued at about $174,000. Yousif Capital Management LLC boosted its stake in shares of Rolls-Royce Holdings PLC by 7.8% in the second quarter. Yousif Capital Management LLC now owns 107,032 shares of the aerospace company's stock worth $1,419,000 after acquiring an additional 7,705 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Rolls-Royce Holdings PLC by 17.4% during the second quarter. GAMMA Investing LLC now owns 34,443 shares of the aerospace company's stock worth $461,000 after purchasing an additional 5,099 shares in the last quarter. 0.07% of the stock is owned by hedge funds and other institutional investors.

Rolls-Royce Holdings PLC Stock Down 1.7%

OTCMKTS:RYCEY opened at $13.70 on Friday. Rolls-Royce Holdings PLC has a 1 year low of $6.72 and a 1 year high of $16.27. The stock's 50 day simple moving average is $15.31 and its two-hundred day simple moving average is $13.86.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RYCEY. Royal Bank Of Canada assumed coverage on Rolls-Royce Holdings PLC in a report on Tuesday. They issued an "outperform" rating on the stock. The Goldman Sachs Group initiated coverage on shares of Rolls-Royce Holdings PLC in a research report on Friday, September 19th. They set a "buy" rating on the stock. Finally, Berenberg Bank upgraded shares of Rolls-Royce Holdings PLC to a "hold" rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Rolls-Royce Holdings PLC presently has an average rating of "Moderate Buy".

Rolls-Royce Holdings PLC Company Profile

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.

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