Wetherby Asset Management Inc. Has $841,000 Position in Rockwell Collins, Inc. (COL)
Wetherby Asset Management Inc. raised its stake in shares of Rockwell Collins, Inc. (NYSE:COL) by 48.0% during the second quarter, Holdings Channel reports. The fund owned 7,997 shares of the aerospace company’s stock after buying an additional 2,595 shares during the period. Wetherby Asset Management Inc.’s holdings in Rockwell Collins were worth $841,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its stake in Rockwell Collins by 140.2% in the second quarter. Canada Pension Plan Investment Board now owns 213,324 shares of the aerospace company’s stock valued at $22,416,000 after buying an additional 124,507 shares during the last quarter. Trexquant Investment LP acquired a new stake in Rockwell Collins during the second quarter valued at about $252,000. Mengis Capital Management Inc. acquired a new stake in Rockwell Collins during the second quarter valued at about $615,000. Cigna Investments Inc. New raised its stake in Rockwell Collins by 17.7% in the second quarter. Cigna Investments Inc. New now owns 6,275 shares of the aerospace company’s stock valued at $659,000 after buying an additional 944 shares during the last quarter. Finally, Global X Management Co. LLC raised its stake in Rockwell Collins by 26.2% in the second quarter. Global X Management Co. LLC now owns 1,480 shares of the aerospace company’s stock valued at $156,000 after buying an additional 307 shares during the last quarter. 66.74% of the stock is owned by institutional investors and hedge funds.
Rockwell Collins, Inc. (NYSE:COL) opened at 125.75 on Friday. Rockwell Collins, Inc. has a 12-month low of $78.54 and a 12-month high of $128.43. The stock’s 50 day moving average is $110.61 and its 200 day moving average is $102.21. The company has a market cap of $20.43 billion, a P/E ratio of 24.96 and a beta of 0.78.
Rockwell Collins (NYSE:COL) last issued its quarterly earnings data on Friday, July 28th. The aerospace company reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.06. The company had revenue of $2.09 billion for 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 company’s revenue was up 57.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 earnings per share. On average, equities analysts forecast that Rockwell Collins, Inc. will post $6.08 earnings per share for the current year.
Rockwell Collins declared that its board has approved a stock 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 purchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 14th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, August 10th. Rockwell Collins’s payout ratio is presently 26.04%.
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Several research firms recently issued reports on COL. BidaskClub raised shares of Rockwell Collins from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine lowered shares of Rockwell Collins from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Cowen and Company reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Rockwell Collins in a research note on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) set a $96.00 price objective on shares of Rockwell Collins and gave the company a “sell” rating in a research note on Tuesday, August 1st. Finally, Canaccord Genuity raised shares of Rockwell Collins from a “hold” rating to a “buy” rating and lifted their price objective for the company from $108.00 to $125.00 in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. Rockwell Collins currently has an average rating of “Hold” and an average price target of $113.79.
In other news, VP Jeffrey A. Standerski sold 6,300 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,140,680.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 18,000 shares of company stock worth $1,480 over the last three months. 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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