Cohen Klingenstein LLC continued to hold its stake in shares of Rockwell Collins, Inc. (NYSE:COL) during the second quarter, Holdings Channel reports. The firm owned 20,300 shares of the aerospace company’s stock at the end of the second quarter. Cohen Klingenstein LLC’s holdings in Rockwell Collins were worth $2,133,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Montecito Bank & Trust raised its stake in shares of Rockwell Collins by 0.5% in the first quarter. Montecito Bank & Trust now owns 2,666 shares of the aerospace company’s stock worth $259,000 after buying an additional 12 shares during the period. United Capital Financial Advisers LLC raised its stake in shares of Rockwell Collins by 0.3% in the first quarter. United Capital Financial Advisers LLC now owns 5,783 shares of the aerospace company’s stock worth $562,000 after buying an additional 17 shares during the period. Cleararc Capital Inc. raised its stake in shares of Rockwell Collins by 0.9% in the first quarter. Cleararc Capital Inc. now owns 3,199 shares of the aerospace company’s stock worth $311,000 after buying an additional 28 shares during the period. Sigma Planning Corp raised its stake in shares of Rockwell Collins by 1.0% in the first quarter. Sigma Planning Corp now owns 3,140 shares of the aerospace company’s stock worth $305,000 after buying an additional 31 shares during the period. Finally, Azimuth Capital Management LLC raised its stake in shares of Rockwell Collins by 0.5% in the first quarter. Azimuth Capital Management LLC now owns 7,979 shares of the aerospace company’s stock worth $775,000 after buying an additional 43 shares during the period. 66.07% of the stock is currently owned by institutional investors and hedge funds.
Rockwell Collins, Inc. (COL) traded down 0.18% during midday trading on Monday, reaching $110.31. 1,218,766 shares of the company traded hands. The company has a 50 day moving average price of $105.16 and a 200-day moving average price of $98.27. Rockwell Collins, Inc. has a one year low of $78.54 and a one year high of $111.11. The stock has a market capitalization of $17.91 billion, a P/E ratio of 19.80 and a beta of 0.79.
Rockwell Collins (NYSE:COL) last issued its earnings results on Friday, April 21st. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.03. Rockwell Collins had a net margin of 13.83% and a return on equity of 34.40%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the business earned $1.30 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts forecast that Rockwell Collins, Inc. will post $6.05 EPS for the current fiscal year.
Rockwell Collins announced that its board has authorized a share repurchase plan on Friday, July 7th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the aerospace company to purchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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A number of brokerages have issued reports on COL. Zacks Investment Research lowered shares of Rockwell Collins from a “buy” rating to a “hold” rating in a report on Friday. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $135.00 target price on shares of Rockwell Collins in a research note on Friday. Vertical Research lifted their target price on shares of Rockwell Collins from $100.00 to $110.00 and gave the company a “hold” rating in a research note on Monday, April 24th. Jefferies Group LLC set a $108.00 target price on shares of Rockwell Collins and gave the company a “hold” rating in a research note on Monday, May 22nd. Finally, Bank of America Corporation cut their target price on shares of Rockwell Collins from $115.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $111.32.
In other news, VP Bruce Michael King sold 2,550 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $104.00, for a total value of $265,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David J. Nieuwsma sold 6,250 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $105.00, for a total transaction of $656,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 27,000 shares of company stock worth $2,200 and have sold 15,100 shares worth $1,604,622. 1.50% of the stock is owned by corporate insiders.
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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