Zacks Investment Research downgraded shares of Rockwell Collins (NYSE:COL) from a buy rating to a hold rating in a report issued on Thursday.
According to Zacks, “Rockwell Collins continues to be the primary global supplier of communications and avionics equipment for both commercial and military customers. Last year, United Technologies agreed to take over Rockwell Collins, which comes as good news for the latter’s shareholders, who are set to enjoy more than 7% premium in terms of share price. An improving liquidity position enables Rockwell Collins to pursue several investor-friendly practices, including share buyback and payment of regular dividend. Such a solid financial position has enabled the company to outperform its broader industry in past one year. However, Rockwell Collins derives a major portion of its revenues from overseas, which exposes it to the risk of currency fluctuations. Moreover, to keep upgrading its technology, in case it loses out to competitors developing better products, the company needs to invest heavily in R&D.”
COL has been the subject of several other research reports. Royal Bank of Canada set a $140.00 price target on shares of Rockwell Collins and gave the company a hold rating in a research report on Sunday, November 12th. Cowen reissued a hold rating and issued a $135.00 price target on shares of Rockwell Collins in a research report on Friday, January 26th. Credit Suisse Group downgraded shares of Rockwell Collins from an outperform rating to a neutral rating and set a $140.00 price target for the company. in a research report on Wednesday, November 8th. Canaccord Genuity reduced their price target on shares of Rockwell Collins from $140.00 to $137.00 and set a hold rating for the company in a research report on Tuesday, January 30th. Finally, Wells Fargo & Co downgraded shares of Rockwell Collins from an outperform rating to a market perform rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating, four have given 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 a consensus price target of $133.83.
Rockwell Collins (NYSE:COL) last posted its quarterly earnings results on Friday, January 26th. The aerospace company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.06. Rockwell Collins had a net margin of 10.99% and a return on equity of 19.58%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the firm posted $1.20 EPS. Rockwell Collins’s revenue was up 68.6% compared to the same quarter last year. equities analysts forecast that Rockwell Collins will post 7.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 5th. Shareholders of record on Monday, February 12th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, February 9th. Rockwell Collins’s dividend payout ratio is 24.58%.
In other news, VP Douglas E. Stenske sold 3,287 shares of Rockwell Collins stock in a transaction on Monday, December 18th. The stock was sold at an average price of $135.00, for a total transaction of $443,745.00. Following the sale, the vice president now directly owns 8,776 shares in the company, valued at approximately $1,184,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick E. Allen sold 25,410 shares of Rockwell Collins stock in a transaction on Monday, December 18th. The stock was sold at an average price of $135.02, for a total value of $3,430,858.20. The disclosure for this sale can be found here. Insiders have sold a total of 36,331 shares of company stock worth $4,891,757 over the last ninety days. Insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COL. Ameritas Investment Partners Inc. raised its stake in shares of Rockwell Collins by 20.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,756 shares of the aerospace company’s stock worth $395,000 after purchasing an additional 650 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in shares of Rockwell Collins by 49.5% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 3,587 shares of the aerospace company’s stock worth $377,000 after purchasing an additional 1,187 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of Rockwell Collins by 29.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 32,038 shares of the aerospace company’s stock worth $4,188,000 after purchasing an additional 7,376 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Rockwell Collins by 4.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 10,394 shares of the aerospace company’s stock worth $1,358,000 after purchasing an additional 489 shares during the period. Finally, Barometer Capital Management Inc. bought a new stake in shares of Rockwell Collins during the 3rd quarter worth $431,000. Institutional investors own 70.13% of the company’s stock.
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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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