Cambridge Investment Research Advisors Inc. grew its stake in shares of Rockwell Collins, Inc. (NYSE:COL) by 11.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,996 shares of the aerospace company’s stock after acquiring an additional 704 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Rockwell Collins were worth $735,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Rockwell Collins by 26.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,030 shares of the aerospace company’s stock worth $3,050,000 after acquiring an additional 6,004 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Rockwell Collins by 63.3% in the second quarter. Neuberger Berman Group LLC now owns 1,328,963 shares of the aerospace company’s stock worth $139,647,000 after acquiring an additional 515,357 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Rockwell Collins by 34.8% in the second quarter. Pacer Advisors Inc. now owns 3,310 shares of the aerospace company’s stock worth $348,000 after acquiring an additional 855 shares during the last quarter. Utah Retirement Systems increased its stake in shares of Rockwell Collins by 24.8% in the second quarter. Utah Retirement Systems now owns 29,699 shares of the aerospace company’s stock worth $3,121,000 after acquiring an additional 5,901 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Rockwell Collins by 6.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 372,126 shares of the aerospace company’s stock worth $39,103,000 after acquiring an additional 24,164 shares during the last quarter. Institutional investors own 77.86% of the company’s stock.
Rockwell Collins, Inc. (COL) opened at 131.43 on Friday. The company has a market capitalization of $21.35 billion, a PE ratio of 26.08 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. The stock’s 50 day moving average is $124.96 and its 200-day moving average is $108.47.
Rockwell Collins (NYSE:COL) last issued its quarterly earnings data 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 net margin of 11.52% and a return on equity of 26.20%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the prior year, the business earned $1.63 EPS. The business’s quarterly revenue was up 57.0% on a year-over-year basis. On average, analysts expect that Rockwell Collins, Inc. will post $6.09 EPS for the current year.
Rockwell Collins declared that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 14th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, August 10th. Rockwell Collins’s dividend payout ratio is 26.04%.
Several research firms have commented on COL. Bank of America Corporation lowered their price target on Rockwell Collins from $115.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, June 9th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $135.00 price target on shares of Rockwell Collins in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) set a $96.00 target price on shares of Rockwell Collins and gave the company a “sell” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $115.00 target price (up previously from $108.00) on shares of Rockwell Collins in a research note on Monday, July 31st. Finally, Vetr upgraded shares of Rockwell Collins from a “hold” rating to a “strong-buy” rating and set a $166.10 target price for the company in a research note on Monday, August 21st. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $122.34.
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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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