Chevy Chase Trust Holdings Inc. boosted its position in Rockwell Collins, Inc. (NYSE:COL) by 23.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,612 shares of the aerospace company’s stock after buying an additional 27,115 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.09% of Rockwell Collins worth $14,880,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Gulf International Bank UK Ltd raised its position in Rockwell Collins by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 38,488 shares of the aerospace company’s stock worth $3,739,000 after buying an additional 400 shares during the period. Raymond James Trust N.A. increased its stake in Rockwell Collins by 19.4% in the first quarter. Raymond James Trust N.A. now owns 3,759 shares of the aerospace company’s stock worth $365,000 after buying an additional 611 shares in the last quarter. Gibraltar Capital Management Inc. increased its stake in Rockwell Collins by 1.4% in the first quarter. Gibraltar Capital Management Inc. now owns 30,366 shares of the aerospace company’s stock worth $2,950,000 after buying an additional 411 shares in the last quarter. Atalanta Sosnoff Capital LLC acquired a new stake in Rockwell Collins during the first quarter worth approximately $833,000. Finally, Foundry Partners LLC purchased a new stake in Rockwell Collins during the first quarter valued at about $223,000. 66.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rockwell Collins, Inc. (COL) traded down 0.93% on Friday, reaching $124.58. The company had a trading volume of 2,253,525 shares. The stock has a market capitalization of $20.24 billion, a PE ratio of 24.72 and a beta of 0.78. Rockwell Collins, Inc. has a 52-week low of $78.54 and a 52-week high of $128.43. The company has a 50 day moving average price of $110.61 and a 200 day moving average price of $102.21.
Rockwell Collins (NYSE:COL) last released its earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. Rockwell Collins had a net margin of 11.52% and a return on equity of 26.20%. The firm’s revenue for the quarter was up 57.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. On average, equities research analysts anticipate that Rockwell Collins, Inc. will post $6.08 earnings per share for the current year.
Rockwell Collins announced that its Board of Directors has authorized a stock repurchase program on Friday, July 7th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the aerospace company to buy up to 1.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 14th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, August 10th. Rockwell Collins’s dividend payout ratio (DPR) is presently 26.04%.
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Several equities research analysts recently issued reports on COL shares. Bank of America Corporation cut their price objective on Rockwell Collins from $115.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, June 9th. Credit Suisse Group restated a “buy” rating and set a $120.00 price target on shares of Rockwell Collins in a report on Wednesday, July 19th. Deutsche Bank AG upped their price target on Rockwell Collins from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Zacks Investment Research raised Rockwell Collins from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Wednesday, July 12th. Finally, Barclays PLC upped their target price on Rockwell Collins from $115.00 to $122.00 and gave the company an “overweight” rating in a research report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. Rockwell Collins currently has an average rating of “Hold” and a consensus price target of $113.79.
In related news, VP Jeffrey A. Standerski sold 6,300 shares of Rockwell Collins stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $108.44, for a total transaction of $683,172.00. Following the completion of the sale, the vice president now owns 10,519 shares of the company’s stock, valued at approximately $1,140,680.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders bought 18,000 shares of company stock valued at $1,480. Insiders own 1.50% of the company’s stock.
Rockwell Collins Company Profile
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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