Published: Sat, April 14, 2018
Business | By Kate Woods

Rolls-Royce To Increase Inspections On Some 787 Engines

Rolls-Royce To Increase Inspections On Some 787 Engines

Shares in Rolls, one of the biggest names in British manufacturing, were down 1 per cent at 1053 GMT. Liberum Capital reiterated a "hold" rating and set a GBX 875 ($12.37) target price on shares of Rolls-Royce in a research report on Wednesday, March 7th. The firm now has a GBX 1,083 ($15.31) target price on the stock. The company had a trading volume of 5,474,212 shares, compared to its average volume of 4,570,000. Finally, J P Morgan Chase & Co lowered their target price on shares of Rolls-Royce Holding PLC from GBX 890 ($11.09) to GBX 730 ($9.09) and set a "neutral" rating on the stock in a research note on Thursday, January 5th.

The two advisories are due to be issued on Friday, the source said. "According to MarketBeat, Rolls-Royce now has a consensus 'hold" rating and an average price target of 939.82p.

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The business also recently declared a dividend, which will be paid on Monday, July 2nd. This represents a dividend yield of 0.79%.

The first round of bidding to supply the CR929 liner with engines was expected to begin in May, the newspaper cited Rolls-Royce's chief technology officer Paul Stein as saying, according to Reuters. The ex-dividend date is Thursday, April 26th. The stock was purchased at an average cost of GBX 883 ($12.48) per share, for a total transaction of £980.13 ($1,385.34). Also, insider Kevin Smith bought 284 shares of Rolls-Royce stock in a transaction that occurred on Wednesday, March 7th. Insiders have bought a total of 1,025 shares of company stock worth $684,075 in the last ninety days. If you are reading this report on another domain, it was copied illegally and reposted in violation of U.S. and worldwide copyright laws.

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The company will shift spending priorities to mitigate the incremental cash costs, it said, adding that guidance for free cash flow remains unchanged.LONDON: Britain's Rolls-Royce needs to increase the number of inspections on its problematic Trent 1000 engines, it said on Friday, leading to additional disruption for customers and higher costs. The company operates through Civil Aerospace, Defence Aerospace, Power Systems, Marine, and Nuclear segments.

That will lead to more disruption for its customers, with 380 of the engines in question now in service with airlines, with the firm adding that the new approach will not affect Trent 1000 Package B engines and Trent 1000-TEN engines.

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