Bp Plc boosted its holdings in Rockwell Collins, Inc. (NYSE:COL) by 12.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,000 shares of the aerospace company’s stock after acquiring an additional 7,000 shares during the quarter. Bp Plc’s holdings in Rockwell Collins were worth $8,090,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in COL. Vanguard Group Inc. increased its position in shares of Rockwell Collins by 27.0% during the 2nd quarter. Vanguard Group Inc. now owns 16,019,594 shares of the aerospace company’s stock valued at $1,683,340,000 after purchasing an additional 3,410,680 shares during the last quarter. BlackRock Inc. increased its position in shares of Rockwell Collins by 27.9% during the 2nd quarter. BlackRock Inc. now owns 11,315,505 shares of the aerospace company’s stock valued at $1,189,034,000 after purchasing an additional 2,466,370 shares during the last quarter. State Street Corp increased its position in shares of Rockwell Collins by 21.9% during the 2nd quarter. State Street Corp now owns 7,140,178 shares of the aerospace company’s stock valued at $750,304,000 after purchasing an additional 1,281,647 shares during the last quarter. FMR LLC increased its position in shares of Rockwell Collins by 25.4% during the 2nd quarter. FMR LLC now owns 4,238,235 shares of the aerospace company’s stock valued at $445,354,000 after purchasing an additional 857,884 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Rockwell Collins by 76.0% during the 2nd quarter. Franklin Resources Inc. now owns 2,999,186 shares of the aerospace company’s stock valued at $315,130,000 after purchasing an additional 1,295,052 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.
Rockwell Collins (NYSE:COL) last announced its quarterly earnings results on Friday, October 27th. The aerospace company reported $1.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.80. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.23 billion. Rockwell Collins had a return on equity of 22.00% and a net margin of 10.33%. Rockwell Collins’s quarterly revenue was up 51.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $1.32 dividend on an annualized basis and a yield of 0.97%. Rockwell Collins’s dividend payout ratio is currently 27.62%.
Rockwell Collins declared that its Board of Directors has initiated a share repurchase program on Friday, July 7th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the aerospace company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In related news, Director Harlan Donnley Meade bought 1,666,667 shares of the stock in a transaction on Friday, September 15th. The stock was bought at an average price of $0.06 per share, for a total transaction of $100,000.02. 1.50% of the stock is owned by corporate insiders.
Several equities research analysts recently weighed in on the company. Credit Suisse Group restated a “buy” rating and set a $120.00 target price on shares of Rockwell Collins in a report on Wednesday, July 19th. Citigroup Inc. increased their target price on Rockwell Collins from $93.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Jefferies Group LLC restated a “hold” rating and set a $115.00 target price on shares of Rockwell Collins in a report on Sunday, September 3rd. Buckingham Research restated a “neutral” rating on shares of Rockwell Collins in a report on Tuesday, September 5th. Finally, Drexel Hamilton cut Rockwell Collins from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $127.79.
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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