Zacks Investment Research upgraded shares of Rockwell Collins, Inc. (NYSE:COL) from a sell rating to a hold rating in a research report report published on Monday morning.
According to Zacks, “Rockwell Collins continues to be the foremost global supplier of communications and avionics equipment for both commercial and military customers. A diversified portfolio, comprising both commercial and government customers, protects it from risks of reduced orders from either customer class. Notably, Rockwell Collins outperformed the broader industry in last year. However, the company derives a major portion of its revenues from overseas, which exposes it to the risk of currency fluctuations. Moreover, it lacks a stable alternative supplier for certain goods or services. Also, Rockwell Collins generates majority of revenues from fixed-price contracts, exposing its bottom line to cost over-runs.”
Several other brokerages have also recently weighed in on COL. Credit Suisse Group reissued a buy rating and set a $120.00 price target on shares of Rockwell Collins in a research report on Wednesday, July 19th. Citigroup Inc. boosted their price target on shares of Rockwell Collins from $93.00 to $140.00 and gave the company a neutral rating in a research report on Tuesday, August 15th. Jefferies Group LLC reissued a hold rating and set a $115.00 price target on shares of Rockwell Collins in a research report on Sunday, September 3rd. Buckingham Research reissued a neutral rating on shares of Rockwell Collins in a research report on Tuesday, September 5th. Finally, Drexel Hamilton cut shares of Rockwell Collins from a buy rating to a hold rating in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Rockwell Collins currently has a consensus rating of Hold and an average target price of $126.22.
Shares of Rockwell Collins (NYSE COL) traded down 0.212% during midday trading on Monday, hitting $134.325. 171,934 shares of the stock traded hands. The company’s 50 day moving average price is $131.78 and its 200-day moving average price is $114.51. The stock has a market cap of $21.82 billion, a price-to-earnings ratio of 26.657 and a beta of 0.73. Rockwell Collins has a 12-month low of $78.54 and a 12-month high of $135.31.
Rockwell Collins (NYSE:COL) last announced its quarterly earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.06. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Rockwell Collins had a net margin of 11.52% and a return on equity of 26.20%. The company’s revenue was up 57.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS. On average, equities research analysts expect that Rockwell Collins will post $6.09 EPS for the current year.
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Rockwell Collins announced that its Board of Directors has initiated a share buyback program on Friday, July 7th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the aerospace company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other Rockwell Collins news, Director Harlan Donnley Meade purchased 1,666,667 shares of the business’s stock in a transaction on Friday, September 15th. The shares were bought at an average cost of $0.06 per share, for a total transaction of $100,000.02. 1.50% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of COL. Waldron LP increased its stake in shares of Rockwell Collins by 53.3% during the first quarter. Waldron LP now owns 3,825 shares of the aerospace company’s stock worth $365,000 after buying an additional 1,330 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Rockwell Collins by 3.7% during the first quarter. OppenheimerFunds Inc. now owns 6,856 shares of the aerospace company’s stock worth $666,000 after buying an additional 246 shares during the period. Principal Financial Group Inc. increased its stake in shares of Rockwell Collins by 3.0% during the first quarter. Principal Financial Group Inc. now owns 205,403 shares of the aerospace company’s stock worth $19,957,000 after buying an additional 6,010 shares during the period. Teachers Advisors LLC increased its stake in shares of Rockwell Collins by 2.7% during the first quarter. Teachers Advisors LLC now owns 366,514 shares of the aerospace company’s stock worth $35,611,000 after buying an additional 9,638 shares during the period. Finally, Ngam Advisors L.P. increased its stake in shares of Rockwell Collins by 3.2% during the first quarter. Ngam Advisors L.P. now owns 15,285 shares of the aerospace company’s stock worth $1,485,000 after buying an additional 476 shares during the period. Institutional investors own 77.75% of the company’s stock.
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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