New York State Common Retirement Fund grew its holdings in shares of Rockwell Collins, Inc. (NYSE:COL) by 8.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 595,481 shares of the aerospace company’s stock after purchasing an additional 47,452 shares during the period. New York State Common Retirement Fund owned approximately 0.37% of Rockwell Collins worth $62,573,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. NEXT Financial Group Inc grew its holdings in Rockwell Collins by 35.7% during the second quarter. NEXT Financial Group Inc now owns 950 shares of the aerospace company’s stock worth $100,000 after acquiring an additional 250 shares during the period. Jacobi Capital Management LLC grew its holdings in Rockwell Collins by 30.0% during the second quarter. Jacobi Capital Management LLC now owns 1,001 shares of the aerospace company’s stock worth $108,000 after acquiring an additional 231 shares during the period. Global X Management Co. LLC grew its holdings in Rockwell Collins by 31.1% during the first quarter. Global X Management Co. LLC now owns 1,173 shares of the aerospace company’s stock worth $114,000 after acquiring an additional 278 shares during the period. Harfst & Associates Inc. acquired a new position in Rockwell Collins during the first quarter worth about $114,000. Finally, Whittier Trust Co. grew its holdings in Rockwell Collins by 3.2% during the second quarter. Whittier Trust Co. now owns 1,141 shares of the aerospace company’s stock worth $120,000 after acquiring an additional 35 shares during the period. 72.31% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on COL. Canaccord Genuity lowered Rockwell Collins from a “buy” rating to a “hold” rating and lifted their target price for the stock from $125.00 to $140.00 in a report on Tuesday, September 5th. Seaport Global Securities lowered Rockwell Collins from a “buy” rating to a “neutral” rating in a report on Wednesday, September 6th. Drexel Hamilton lowered Rockwell Collins from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Wolfe Research lowered Rockwell Collins from an “outperform” rating to a “peer perform” rating in a report on Wednesday, September 6th. Finally, Robert W. Baird lowered Rockwell Collins from an “outperform” rating to a “neutral” rating and set a $140.00 target price on the stock. in a report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $122.34.
Rockwell Collins (NYSE:COL) last announced its quarterly earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the company earned $1.63 earnings per share. The company’s revenue for the quarter was up 57.0% compared to the same quarter last year.
Rockwell Collins announced that its Board of Directors has initiated a stock repurchase program on Friday, July 7th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the aerospace company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th were issued a $0.33 dividend. The ex-dividend date was Thursday, August 10th. This represents a $1.32 annualized dividend and a dividend yield of 1.01%. Rockwell Collins’s dividend payout ratio (DPR) is currently 26.04%.
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In other Rockwell Collins news, Director Harlan Donnley Meade purchased 1,666,667 shares of the stock in a transaction on Friday, September 15th. The stock was bought at an average cost of $0.06 per share, for a total transaction of $100,000.02. Insiders acquired 1,675,667 shares of company stock valued at $100,720 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
Rockwell Collins 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.
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