Suntrust Banks Inc. Grows Holdings in Rockwell Collins, Inc. (COL)
Suntrust Banks Inc. grew its stake in Rockwell Collins, Inc. (NYSE:COL) by 305.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,119 shares of the aerospace company’s stock after buying an additional 13,647 shares during the period. Suntrust Banks Inc.’s holdings in Rockwell Collins were worth $1,903,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. NEXT Financial Group Inc grew its stake in Rockwell Collins by 35.7% in the 2nd quarter. NEXT Financial Group Inc now owns 950 shares of the aerospace company’s stock worth $100,000 after buying an additional 250 shares in the last quarter. Jacobi Capital Management LLC grew its stake in Rockwell Collins by 30.0% in the 2nd quarter. Jacobi Capital Management LLC now owns 1,001 shares of the aerospace company’s stock worth $108,000 after buying an additional 231 shares in the last quarter. Whittier Trust Co. grew its stake in Rockwell Collins by 3.2% in the 2nd quarter. Whittier Trust Co. now owns 1,141 shares of the aerospace company’s stock worth $120,000 after buying an additional 35 shares in the last quarter. Global X Management Co. LLC grew its stake in 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 worth $114,000 after buying an additional 278 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. purchased a new position in Rockwell Collins in the 2nd quarter worth approximately $124,000. 72.31% of the stock is owned by institutional investors and hedge funds.
Shares of Rockwell Collins, Inc. (NYSE COL) opened at 130.71 on Friday. Rockwell Collins, Inc. has a 12-month low of $78.54 and a 12-month high of $135.31. The company’s 50-day moving average is $126.75 and its 200-day moving average is $109.38. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 25.94 and a beta of 0.75.
Rockwell Collins (NYSE:COL) last issued its quarterly earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. Rockwell Collins had a return on equity of 26.20% and a net margin of 11.52%. Rockwell Collins’s revenue was up 57.0% on a year-over-year basis. During the same period last year, the company earned $1.63 earnings per share. Analysts predict that Rockwell Collins, Inc. will post $6.09 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 14th were given a $0.33 dividend. The ex-dividend date was Thursday, August 10th. This represents a $1.32 dividend on an annualized basis and a yield of 1.01%. Rockwell Collins’s dividend payout ratio is presently 26.04%.
Rockwell Collins announced that its Board of Directors has initiated a share repurchase program on Friday, July 7th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the aerospace company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of research firms have commented on COL. Canaccord Genuity cut shares of Rockwell Collins from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Wolfe Research cut shares of Rockwell Collins from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, September 6th. BidaskClub raised shares of Rockwell Collins from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reissued a “hold” rating and issued a $115.00 price target (up previously from $108.00) on shares of Rockwell Collins in a research note on Monday, July 31st. Finally, Zacks Investment Research raised shares of Rockwell Collins from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $123.46.
In related news, Director Harlan Donnley Meade purchased 1,666,667 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was bought at an average cost of $0.06 per share, for a total transaction of $100,000.02. 1.50% of the stock is owned by company insiders.
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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