Canaccord Genuity upgraded shares of Rockwell Collins, Inc. (NYSE:COL) from a hold rating to a buy rating in a research note issued to investors on Tuesday, August 1st, MarketBeat reports. The brokerage currently has $125.00 price target on the aerospace company’s stock, up from their prior price target of $108.00.
Other research analysts have also issued research reports about the company. Sanford C. Bernstein assumed coverage on Rockwell Collins in a research report on Thursday, May 25th. They set an outperform rating and a $129.00 target price on the stock. Vertical Research increased their price objective on Rockwell Collins from $100.00 to $110.00 and gave the company a hold rating in a research note on Monday, April 24th. ValuEngine raised Rockwell Collins from a hold rating to a buy rating in a research note on Thursday, July 6th. Cowen and Company raised their target price on Rockwell Collins from $112.00 to $115.00 and gave the stock a buy rating in a research note on Monday, April 24th. Finally, Jefferies Group LLC reissued a hold rating and set a $115.00 price objective (up from $108.00) on shares of Rockwell Collins in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company. Rockwell Collins has a consensus rating of Hold and a consensus price target of $115.65.
Rockwell Collins (NYSE:COL) opened at 124.52 on Tuesday. The company has a market capitalization of $20.23 billion, a PE ratio of 24.71 and a beta of 0.78. The firm has a 50-day moving average of $114.13 and a 200 day moving average of $103.66. Rockwell Collins has a 12-month low of $78.54 and a 12-month high of $128.43.
Rockwell Collins (NYSE:COL) last released its quarterly earnings data on Friday, July 28th. The aerospace company reported $1.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.06. Rockwell Collins had a return on equity of 26.20% and a net margin of 11.52%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. The business’s quarterly revenue was up 57.0% compared to the same quarter last year. Analysts forecast that Rockwell Collins will post $6.08 EPS for the current fiscal year.
Rockwell Collins announced that its Board of Directors has approved a stock buyback program on Friday, July 7th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the aerospace company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $1.32 annualized dividend and a yield of 1.06%. Rockwell Collins’s payout ratio is currently 26.04%.
In related news, VP Jeffrey A. Standerski sold 6,300 shares of the stock in a transaction dated Thursday, June 1st. The stock was 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 $1,140,680.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders bought 18,000 shares of company stock valued at $1,480. Insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. NEXT Financial Group Inc increased its position 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 in the last quarter. Jacobi Capital Management LLC boosted its stake in shares of Rockwell Collins by 30.0% in the second quarter. Jacobi Capital Management LLC now owns 1,001 shares of the aerospace company’s stock worth $108,000 after buying an additional 231 shares during the last quarter. Highlander Capital Management LLC boosted its stake in shares of Rockwell Collins by 106.0% in the second quarter. Highlander Capital Management LLC now owns 1,024 shares of the aerospace company’s stock worth $108,000 after buying an additional 527 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. Finally, 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. 67.81% of the stock is owned by hedge funds and other institutional investors.
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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