Edgestream Partners L.P. Acquires Shares of 5,272 Rockwell Collins, Inc. (NYSE:COL)

Edgestream Partners L.P. bought a new stake in Rockwell Collins, Inc. (NYSE:COL) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,272 shares of the aerospace company’s stock, valued at approximately $554,000.

Several other hedge funds and other institutional investors have also modified their holdings of COL. BlackRock Inc. increased its position in Rockwell Collins by 3,360.5% during the first quarter. BlackRock Inc. now owns 8,849,135 shares of the aerospace company’s stock worth $859,783,000 after purchasing an additional 8,593,416 shares during the last quarter. Franklin Resources Inc. increased its position in Rockwell Collins by 76.0% during the second quarter. Franklin Resources Inc. now owns 2,999,186 shares of the aerospace company’s stock worth $315,130,000 after purchasing an additional 1,295,052 shares during the last quarter. FMR LLC increased its position in Rockwell Collins by 39.4% during the first quarter. FMR LLC now owns 3,380,351 shares of the aerospace company’s stock worth $328,435,000 after purchasing an additional 955,588 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Rockwell Collins during the first quarter worth about $55,546,000. Finally, Northwestern Mutual Investment Management Company LLC increased its position in Rockwell Collins by 1,980.8% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 550,314 shares of the aerospace company’s stock worth $46,854,000 after purchasing an additional 523,867 shares during the last quarter. Institutional investors and hedge funds own 72.31% of the company’s stock.

Shares of Rockwell Collins, Inc. (COL) opened at 130.48 on Friday. The firm’s 50-day moving average is $126.75 and its 200-day moving average is $109.38. The firm has a market cap of $21.20 billion, a PE ratio of 25.89 and a beta of 0.75. Rockwell Collins, Inc. has a 12-month low of $78.54 and a 12-month high of $135.31.

Rockwell Collins (NYSE:COL) last issued its earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share 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 firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the company earned $1.63 earnings per share. The firm’s revenue for the quarter was up 57.0% on a year-over-year basis. Equities analysts expect that Rockwell Collins, Inc. will post $6.09 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Monday, August 14th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, August 10th. Rockwell Collins’s dividend payout ratio (DPR) is 26.04%.

Rockwell Collins declared that its board has initiated a share repurchase program on Friday, July 7th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the aerospace company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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COL has been the subject of a number of recent analyst reports. Credit Suisse Group reiterated a “buy” rating and set a $120.00 price target on shares of Rockwell Collins in a research report on Wednesday, July 19th. Bank of America Corporation dropped their price target on shares of Rockwell Collins from $115.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, June 9th. Goldman Sachs Group, Inc. (The) set a $96.00 price target on shares of Rockwell Collins and gave the company a “sell” rating in a research report on Tuesday, August 1st. Morgan Stanley set a $135.00 price target on shares of Rockwell Collins and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, BidaskClub cut shares of Rockwell Collins from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One research 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 presently has a consensus rating of “Hold” and an average target price of $123.46.

In other Rockwell Collins news, Director Harlan Donnley Meade purchased 1,666,667 shares of the stock in a transaction dated Friday, September 15th. The shares were bought at an average cost of $0.06 per share, with a total value of $100,000.02. Insiders have bought 1,675,667 shares of company stock worth $100,720 over the last three months. Corporate insiders own 1.50% 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.

Institutional Ownership by Quarter for Rockwell Collins (NYSE:COL)

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