Pioneer Investment Management Inc. Invests $25.49 Million in Rockwell Collins, Inc. (COL)
Pioneer Investment Management Inc. purchased a new position in Rockwell Collins, Inc. (NYSE:COL) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 242,592 shares of the aerospace company’s stock, valued at approximately $25,492,000.
Other institutional investors have also made changes to their positions in the company. CWM LLC increased its position in shares of Rockwell Collins by 0.4% in the second quarter. CWM LLC now owns 1,216 shares of the aerospace company’s stock worth $128,000 after buying an additional 5 shares during the period. Montecito Bank & Trust increased its position in shares of Rockwell Collins by 0.5% in the first quarter. Montecito Bank & Trust now owns 2,666 shares of the aerospace company’s stock worth $259,000 after buying an additional 12 shares during the period. Janney Capital Management LLC increased its position in shares of Rockwell Collins by 0.3% in the second quarter. Janney Capital Management LLC now owns 4,665 shares of the aerospace company’s stock worth $490,000 after buying an additional 15 shares during the period. United Capital Financial Advisers LLC increased its position in shares of Rockwell Collins by 0.3% in the first quarter. United Capital Financial Advisers LLC now owns 5,783 shares of the aerospace company’s stock worth $562,000 after buying an additional 17 shares during the period. Finally, Cleararc Capital Inc. increased its position in shares of Rockwell Collins by 0.9% in the first quarter. Cleararc Capital Inc. now owns 3,199 shares of the aerospace company’s stock worth $311,000 after buying an additional 28 shares during the period. 66.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rockwell Collins, Inc. (NYSE COL) opened at 126.43 on Thursday. Rockwell Collins, Inc. has a 1-year low of $78.54 and a 1-year high of $128.43. The firm’s 50-day moving average price is $110.01 and its 200 day moving average price is $102.04. The company has a market capitalization of $20.54 billion, a PE ratio of 25.09 and a beta of 0.78.
Rockwell Collins (NYSE:COL) last released its quarterly earnings results on Friday, July 28th. The aerospace company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. Rockwell Collins had a net margin of 11.52% and a return on equity of 26.20%. The business’s revenue for the quarter was up 57.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 EPS. Equities analysts predict that Rockwell Collins, Inc. will post $6.10 EPS for the current fiscal year.
Rockwell Collins announced that its board has initiated a share repurchase program on Friday, July 7th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the aerospace company to purchase 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 stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 14th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, August 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.04%. Rockwell Collins’s dividend payout ratio (DPR) is currently 26.04%.
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Several equities analysts have recently commented on COL shares. Jefferies Group LLC set a $108.00 target price on Rockwell Collins and gave the company a “hold” rating in a research report on Monday, May 22nd. Vertical Research upped their target price on Rockwell Collins from $100.00 to $110.00 and gave the company a “hold” rating in a research report on Monday, April 24th. Bank of America Corporation decreased their target price on Rockwell Collins from $115.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, June 9th. BidaskClub raised Rockwell Collins from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $112.00 target price on shares of Rockwell Collins in a research report on Monday, April 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $113.79.
In other news, VP Jeffrey A. Standerski sold 6,300 shares of the business’s stock in a transaction on 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 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 can be accessed through the SEC website. Insiders have bought a total of 18,000 shares of company stock valued at $1,480 over the last 90 days. Company insiders own 1.50% of the company’s stock.
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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