State Treasurer State of Michigan boosted its stake in shares of Rockwell Collins, Inc. (NYSE:COL) by 24.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,409 shares of the aerospace company’s stock after buying an additional 10,400 shares during the period. State Treasurer State of Michigan’s holdings in Rockwell Collins were worth $5,612,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in COL. BlackRock Inc. raised its position in shares of Rockwell Collins by 3,360.5% in the first quarter. BlackRock Inc. now owns 8,849,135 shares of the aerospace company’s stock valued at $859,783,000 after buying an additional 8,593,416 shares during the period. FMR LLC raised its position in shares of Rockwell Collins by 39.4% in the first quarter. FMR LLC now owns 3,380,351 shares of the aerospace company’s stock valued at $328,435,000 after buying an additional 955,588 shares during the period. Wells Fargo & Company MN raised its position in shares of Rockwell Collins by 60.5% in the first quarter. Wells Fargo & Company MN now owns 1,793,418 shares of the aerospace company’s stock valued at $174,249,000 after buying an additional 675,976 shares during the period. Primecap Management Co. CA purchased a new position in shares of Rockwell Collins during the first quarter valued at $55,546,000. Finally, Vanguard Group Inc. raised its position in shares of Rockwell Collins by 4.1% in the first quarter. Vanguard Group Inc. now owns 12,608,914 shares of the aerospace company’s stock valued at $1,225,082,000 after buying an additional 497,170 shares during the period. 66.07% of the stock is owned by institutional investors and hedge funds.
Shares of Rockwell Collins, Inc. (NYSE COL) traded down 0.04% during midday trading on Friday, hitting $109.31. The company had a trading volume of 867,966 shares. The firm has a market capitalization of $17.75 billion, a P/E ratio of 19.62 and a beta of 0.79. The stock has a 50 day moving average price of $106.56 and a 200 day moving average price of $99.72. Rockwell Collins, Inc. has a 1-year low of $78.54 and a 1-year high of $111.11.
Rockwell Collins (NYSE:COL) last issued its earnings results on Friday, April 21st. The aerospace company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.03. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. Rockwell Collins had a net margin of 13.83% and a return on equity of 34.40%. Rockwell Collins’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 EPS. On average, equities analysts anticipate that Rockwell Collins, Inc. will post $6.06 EPS for the current fiscal year.
Rockwell Collins declared that its Board of Directors has authorized a stock repurchase program on Friday, July 7th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the aerospace company to buy up to 1.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
TRADEMARK VIOLATION WARNING: This story was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://stocknewstimes.com/2017/07/23/state-treasurer-state-of-michigan-raises-position-in-rockwell-collins-inc-col.html.
COL has been the subject of several research reports. Bank of America Corporation reduced their price objective on Rockwell Collins from $115.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, June 9th. Deutsche Bank AG increased their price objective on Rockwell Collins from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, April 24th. Barclays PLC reissued an “outperform” rating and set a $59.00 price objective (down from $96.00) on shares of Rockwell Collins in a report on Friday, April 14th. Zacks Investment Research raised Rockwell Collins from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a report on Monday, March 27th. Finally, Cowen and Company reissued an “outperform” rating and set a $112.00 price objective on shares of Rockwell Collins in a report on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. Rockwell Collins presently has a consensus rating of “Buy” and an average target price of $111.32.
In related news, VP Jeffrey A. Standerski sold 6,300 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $108.44, for a total value of $683,172.00. Following the completion of the transaction, the vice president now owns 10,519 shares of the company’s stock, valued at approximately $1,140,680.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Bruce Michael King sold 2,550 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $104.00, for a total transaction of $265,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 27,000 shares of company stock valued at $2,200 and sold 15,100 shares valued at $1,604,622. Corporate insiders own 1.50% of the company’s stock.
Rockwell Collins Company Profile
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.
Want to see what other hedge funds are holding COL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rockwell Collins, Inc. (NYSE:COL).
Receive News & Ratings for Rockwell Collins Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Collins Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
