L & S Advisors Inc Acquires Shares of 247,367 Rolls-Royce Holdings PLC (OTCMKTS:RYCEY)

Key Points

• L & S Advisors Inc purchased 247,367 shares of Rolls-Royce Holdings PLC, valued at approximately $2.4 million, during the 1st quarter as disclosed in their 13F filing.
• Other hedge funds, such as First Horizon Advisors and Financial Avengers Inc., have also increased their stakes in Rolls-Royce Holdings PLC, indicating growing institutional interest in the company.
• Shares of Rolls-Royce Holdings PLC are currently trading at $14.29, up 1.3%, with a recent downgrade from "strong-buy" to "hold" by Kepler Capital Markets.

L & S Advisors Inc acquired a new stake in Rolls-Royce Holdings PLC (OTCMKTS:RYCEY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 247,367 shares of the aerospace company's stock, valued at approximately $2,427,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Rolls-Royce Holdings PLC by 1,025.7% during the 1st quarter. GAMMA Investing LLC now owns 287,865 shares of the aerospace company's stock worth $29,344,000 after purchasing an additional 262,292 shares in the last quarter. Financial Avengers Inc. boosted its position 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 acquiring an additional 7,000 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position 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 acquiring an additional 2,055 shares in the last quarter. Hedge funds and other institutional investors own 0.07% of the company's stock.

Rolls-Royce Holdings PLC Stock Performance

Shares of RYCEY traded down $0.20 on Tuesday, reaching $14.37. The stock had a trading volume of 585,857 shares, compared to its average volume of 3,733,410. The firm has a 50-day moving average of $12.87 and a 200 day moving average of $10.61. Rolls-Royce Holdings PLC has a twelve month low of $5.75 and a twelve month high of $14.60.

Rolls-Royce Holdings PLC Cuts Dividend

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

Analysts Set New Price Targets

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.

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.