Bessemer Group Inc. lowered its stake in shares of Rockwell Collins, Inc. (NYSE:COL) by 93.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,381 shares of the aerospace company’s stock after selling 515,905 shares during the period. Bessemer Group Inc.’s holdings in Rockwell Collins were worth $4,034,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Rockwell Collins by 3,360.5% in the first quarter. BlackRock Inc. now owns 8,849,135 shares of the aerospace company’s stock valued at $859,783,000 after buying an additional 8,593,416 shares during the last quarter. FMR LLC raised its stake in Rockwell Collins by 39.4% in the first quarter. FMR LLC now owns 3,380,351 shares of the aerospace company’s stock valued at $328,435,000 after buying an additional 955,588 shares during the last quarter. Wells Fargo & Company MN raised its stake in Rockwell Collins by 60.5% in the first quarter. Wells Fargo & Company MN now owns 1,793,418 shares of the aerospace company’s stock valued at $174,249,000 after buying an additional 675,976 shares during the last quarter. Primecap Management Co. CA purchased a new stake in Rockwell Collins during the first quarter valued at approximately $55,546,000. Finally, Vanguard Group Inc. raised its stake in Rockwell Collins by 4.1% in the first quarter. Vanguard Group Inc. now owns 12,608,914 shares of the aerospace company’s stock valued at $1,225,082,000 after buying an additional 497,170 shares during the last quarter. 67.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rockwell Collins, Inc. (NYSE COL) traded up 1.33% during trading on Friday, hitting $124.52. 2,708,826 shares of the company were exchanged. The stock has a market cap of $20.23 billion, a P/E ratio of 24.71 and a beta of 0.78. Rockwell Collins, Inc. has a 12 month low of $78.54 and a 12 month high of $128.43. The company’s 50-day moving average price is $113.55 and its 200 day moving average price is $103.42.
Rockwell Collins (NYSE:COL) last released its quarterly earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.06. The business 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 was up 57.0% on a year-over-year basis. During the same period last year, the business earned $1.63 EPS. On average, equities analysts predict that Rockwell Collins, Inc. will post $6.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 14th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, August 10th. Rockwell Collins’s payout ratio is 26.04%.
Rockwell Collins declared that its Board of Directors has authorized a stock buyback 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 generally an indication that the company’s board of directors believes its shares are undervalued.
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Several analysts recently weighed in on COL shares. Credit Suisse Group reiterated a “buy” rating and issued a $120.00 target price on shares of Rockwell Collins in a report on Wednesday, July 19th. Bank of America Corporation dropped their target price on shares of Rockwell Collins from $115.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, June 9th. Goldman Sachs Group, Inc. (The) set a $96.00 target price on shares of Rockwell Collins and gave the company a “sell” rating in a report on Tuesday, August 1st. BidaskClub downgraded shares of Rockwell Collins from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Morgan Stanley set a $135.00 target price on shares of Rockwell Collins and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $115.65.
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 transaction of $683,172.00. Following the completion of the sale, the vice president now directly owns 10,519 shares of the company’s stock, valued at approximately $1,140,680.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders have purchased 18,000 shares of company stock valued at $1,480. Company insiders own 1.50% of the company’s stock.
Rockwell Collins Company 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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