BTC Capital Management Inc. acquired a new position in Rockwell Collins, Inc. (NYSE:COL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,989 shares of the aerospace company’s stock, valued at approximately $209,000.
Other large investors have also recently modified their holdings of the company. NEXT Financial Group Inc boosted its stake in shares of Rockwell Collins by 35.7% in the second quarter. NEXT Financial Group Inc now owns 950 shares of the aerospace company’s stock worth $100,000 after buying an additional 250 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of Rockwell Collins by 30.1% in the first quarter. Whittier Trust Co. now owns 1,106 shares of the aerospace company’s stock worth $108,000 after buying an additional 256 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of Rockwell Collins by 31.1% in the first quarter. Global X Management Co. LLC now owns 1,173 shares of the aerospace company’s stock worth $114,000 after buying an additional 278 shares during the last quarter. Harfst & Associates Inc. purchased a new stake in shares of Rockwell Collins during the first quarter worth approximately $114,000. Finally, CWM LLC boosted its stake in shares of Rockwell Collins by 71.5% in the first quarter. CWM LLC now owns 1,211 shares of the aerospace company’s stock worth $118,000 after buying an additional 505 shares during the last quarter. 66.74% of the stock is currently owned by institutional investors and hedge funds.
Rockwell Collins, Inc. (NYSE:COL) opened at 124.58 on Friday. The firm has a 50-day moving average price of $111.19 and a 200-day moving average price of $102.45. Rockwell Collins, Inc. has a one year low of $78.54 and a one year high of $128.43. The stock has a market cap of $20.24 billion, a price-to-earnings ratio of 24.72 and a beta of 0.78.
Rockwell Collins (NYSE:COL) last posted its earnings results on Friday, July 28th. The aerospace company reported $1.64 EPS for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.06. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. Rockwell Collins had a return on equity of 26.20% and a net margin of 11.52%. Rockwell Collins’s quarterly revenue was up 57.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. On average, equities analysts predict that Rockwell Collins, Inc. will post $6.08 earnings per share for the current year.
Rockwell Collins announced that its Board of Directors has initiated a stock buyback plan on Friday, July 7th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, August 10th. This represents a $1.32 dividend on an annualized basis and a yield of 1.06%. Rockwell Collins’s payout ratio is 26.04%.
COL has been the topic of a number of analyst reports. Cowen and Company raised their price objective on shares of Rockwell Collins from $112.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. Zacks Investment Research raised shares of Rockwell Collins from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Wednesday, April 26th. Deutsche Bank AG raised their price objective on shares of Rockwell Collins from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. ValuEngine raised shares of Rockwell Collins from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, BidaskClub raised shares of Rockwell Collins from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. Rockwell Collins currently has an average rating of “Hold” and a consensus price target of $113.79.
In other Rockwell Collins news, VP Jeffrey A. Standerski sold 6,300 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $108.44, for a total transaction of $683,172.00. Following the sale, the vice president now directly owns 10,519 shares in the company, valued at $1,140,680.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have acquired 18,000 shares of company stock worth $1,480. 1.50% of the stock is owned by company insiders.
About Rockwell Collins
Rockwell Collins, Inc designs, produces and supports communications and aviation systems for commercial and military customers. The Company provides information management services through voice and data communication networks and solutions across the world. The Company operates through three segments: Commercial Systems, Government Systems and Information Management Services.
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