Pacific Alternative Asset Management Company LLC Buys New Position in Rockwell Collins, Inc. (COL)
Pacific Alternative Asset Management Company LLC bought a new stake in Rockwell Collins, Inc. (NYSE:COL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 51,183 shares of the aerospace company’s stock, valued at approximately $5,378,000. Rockwell Collins accounts for 1.4% of Pacific Alternative Asset Management Company LLC’s investment portfolio, making the stock its 8th biggest holding.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COL. NEXT Financial Group Inc lifted its stake in shares of Rockwell Collins by 35.7% in the 2nd quarter. NEXT Financial Group Inc now owns 950 shares of the aerospace company’s stock valued at $100,000 after purchasing an additional 250 shares during the period. Jacobi Capital Management LLC lifted its stake in shares of Rockwell Collins by 30.0% in the 2nd quarter. Jacobi Capital Management LLC now owns 1,001 shares of the aerospace company’s stock valued at $108,000 after purchasing an additional 231 shares during the period. Global X Management Co. LLC lifted its stake in shares of Rockwell Collins by 31.1% in the 1st quarter. Global X Management Co. LLC now owns 1,173 shares of the aerospace company’s stock valued at $114,000 after purchasing an additional 278 shares during the period. Harfst & Associates Inc. purchased a new position in shares of Rockwell Collins in the 1st quarter valued at approximately $114,000. Finally, Whittier Trust Co. lifted its stake in shares of Rockwell Collins by 3.2% in the 2nd quarter. Whittier Trust Co. now owns 1,141 shares of the aerospace company’s stock valued at $120,000 after purchasing an additional 35 shares during the period. Institutional investors own 72.31% of the company’s stock.
Shares of Rockwell Collins, Inc. (NYSE:COL) traded up 0.13% during mid-day trading on Friday, hitting $130.56. The company had a trading volume of 754,278 shares. The company has a market capitalization of $21.21 billion, a price-to-earnings ratio of 25.91 and a beta of 0.75. The company has a 50-day moving average price of $126.75 and a 200-day moving average price of $109.38. Rockwell Collins, Inc. has a 1-year low of $78.54 and a 1-year high of $135.31.
Rockwell Collins (NYSE:COL) last released its earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.06. Rockwell Collins had a return on equity of 26.20% and a net margin of 11.52%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the firm earned $1.63 EPS. The firm’s revenue was up 57.0% on a year-over-year basis. On average, equities analysts anticipate that Rockwell Collins, Inc. will post $6.09 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 14th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, August 10th. Rockwell Collins’s payout ratio is 26.04%.
Rockwell Collins announced that its Board of Directors has authorized a stock repurchase program on Friday, July 7th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In related news, Director Harlan Donnley Meade purchased 1,666,667 shares of the business’s stock in a transaction on Friday, September 15th. The shares were bought at an average cost of $0.06 per share, with a total value of $100,000.02. Over the last three months, insiders purchased 1,675,667 shares of company stock worth $100,720. 1.50% of the stock is owned by insiders.
A number of research analysts recently weighed in on COL shares. Credit Suisse Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of Rockwell Collins in a research report on Wednesday, July 19th. Citigroup Inc. raised their price objective on Rockwell Collins from $93.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, August 15th. Jefferies Group LLC reaffirmed a “hold” rating and set a $115.00 price objective on shares of Rockwell Collins in a research report on Sunday, September 3rd. Buckingham Research reaffirmed a “neutral” rating on shares of Rockwell Collins in a research report on Tuesday, September 5th. Finally, Drexel Hamilton lowered Rockwell Collins from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $122.34.
Rockwell Collins 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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