Advisors Asset Management Inc. Increases Position in Rockwell Collins, Inc. (COL)
Advisors Asset Management Inc. increased its stake in shares of Rockwell Collins, Inc. (NYSE:COL) by 5.1% during the second quarter, Holdings Channel reports. The institutional investor owned 70,885 shares of the aerospace company’s stock after buying an additional 3,426 shares during the period. Advisors Asset Management Inc.’s holdings in Rockwell Collins were worth $7,449,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. NEXT Financial Group Inc boosted its stake in shares of Rockwell Collins by 35.7% in the second quarter. NEXT Financial Group Inc now owns 950 shares of the aerospace company’s stock valued at $100,000 after buying an additional 250 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Rockwell Collins by 30.1% in the first quarter. Whittier Trust Co. now owns 1,106 shares of the aerospace company’s stock valued at $108,000 after buying an additional 256 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Rockwell Collins by 31.1% in the first quarter. Global X Management Co. LLC now owns 1,173 shares of the aerospace company’s stock valued at $114,000 after buying an additional 278 shares in the last quarter. Harfst & Associates Inc. bought a new stake in shares of Rockwell Collins during the first quarter valued at about $114,000. Finally, CWM LLC boosted its stake in shares of Rockwell Collins by 71.5% in the first quarter. CWM LLC now owns 1,211 shares of the aerospace company’s stock valued at $118,000 after buying an additional 505 shares in the last quarter. 67.81% of the stock is owned by institutional investors.
Rockwell Collins, Inc. (COL) opened at 124.83 on Wednesday. The firm has a 50-day moving average of $112.39 and a 200-day moving average of $103.12. Rockwell Collins, Inc. has a 52-week low of $78.54 and a 52-week high of $128.43. The stock has a market capitalization of $20.28 billion, a PE ratio of 24.77 and a beta of 0.78.
Rockwell Collins (NYSE:COL) last posted its earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06. Rockwell Collins had a net margin of 11.52% and a return on equity of 26.20%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the business posted $1.63 EPS. Rockwell Collins’s revenue was up 57.0% compared to the same quarter last year. On average, equities analysts expect that Rockwell Collins, Inc. will post $6.08 EPS for the current year.
Rockwell Collins declared that its board has initiated 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 repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally a sign 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. Investors of record on Monday, August 14th will be paid a $0.33 dividend. The ex-dividend date is Thursday, August 10th. This represents a $1.32 dividend on an annualized basis and a yield of 1.06%. Rockwell Collins’s payout ratio is presently 26.04%.
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Several analysts have recently issued reports on COL shares. Cowen and Company boosted their price objective on shares of Rockwell Collins from $112.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Deutsche Bank AG boosted their price objective on shares of Rockwell Collins from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Zacks Investment Research raised shares of Rockwell Collins from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research note on Wednesday, April 26th. ValuEngine raised shares of Rockwell Collins from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, BidaskClub raised shares of Rockwell Collins from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $115.10.
In related news, VP Jeffrey A. Standerski sold 6,300 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $1,140,680.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased a total of 18,000 shares of company stock worth $1,480 over the last quarter. 1.50% of the stock is currently owned by company 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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