Texas Permanent School Fund increased its position in shares of Rockwell Collins, Inc. (NYSE:COL) by 19.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,626 shares of the aerospace company’s stock after buying an additional 7,400 shares during the period. Texas Permanent School Fund’s holdings in Rockwell Collins were worth $4,794,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in shares of Rockwell Collins by 18.7% in the fourth quarter. Teachers Advisors LLC now owns 356,876 shares of the aerospace company’s stock worth $33,104,000 after buying an additional 56,233 shares during the period. Kentucky Retirement Systems acquired a new stake in shares of Rockwell Collins during the fourth quarter worth about $877,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Rockwell Collins during the fourth quarter worth about $391,000. Highbridge Capital Management LLC increased its stake in shares of Rockwell Collins by 160.4% in the fourth quarter. Highbridge Capital Management LLC now owns 3,324 shares of the aerospace company’s stock worth $308,000 after buying an additional 8,824 shares during the period. Finally, Foundry Partners LLC acquired a new stake in shares of Rockwell Collins during the first quarter worth about $223,000. Hedge funds and other institutional investors own 67.81% of the company’s stock.
Shares of Rockwell Collins, Inc. (NYSE:COL) opened at 124.52 on Friday. Rockwell Collins, Inc. has a one year low of $78.54 and a one year high of $128.43. The firm has a market capitalization of $20.23 billion, a P/E ratio of 24.71 and a beta of 0.78. The company has a 50-day moving average price of $114.13 and a 200 day moving average price of $103.66.
Rockwell Collins (NYSE:COL) last released its earnings results on Friday, July 28th. The aerospace company reported $1.64 EPS for the quarter, beating the 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 analyst estimates of $2.04 billion. During the same period last year, the firm earned $1.63 EPS. The business’s quarterly revenue was up 57.0% compared to the same quarter last year. Analysts expect that Rockwell Collins, Inc. will post $6.08 earnings per share for the current fiscal year.
Rockwell Collins announced that its board has authorized a share repurchase plan on Friday, July 7th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 10th. Rockwell Collins’s dividend payout ratio is currently 26.04%.
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COL has been the topic of a number of research analyst reports. BidaskClub upgraded Rockwell Collins from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Citigroup Inc. lifted their target price on Rockwell Collins from $93.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday. Morgan Stanley set a $135.00 target price on Rockwell Collins and gave the stock a “buy” rating in a research report on Thursday. ValuEngine cut Rockwell Collins from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Cowen and Company cut Rockwell Collins from an “outperform” rating to a “market perform” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $115.65.
In other Rockwell Collins news, VP Jeffrey A. Standerski sold 6,300 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $108.44, for a total value of $683,172.00. Following the transaction, the vice president now directly owns 10,519 shares of the company’s stock, valued at approximately $1,140,680.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders acquired 18,000 shares of company stock worth $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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