Rockwell Collins, Inc. (NYSE:COL) declared a quarterly dividend on Tuesday, August 1st, Wall Street Journal reports. Shareholders of record on Monday, August 14th will be paid a dividend of 0.33 per share by the aerospace company on Tuesday, September 5th. This represents a $1.32 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, August 10th.
Rockwell Collins has increased its dividend by an average of 3.2% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Rockwell Collins has a dividend payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rockwell Collins to earn $7.16 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 18.4%.
Rockwell Collins (COL) traded up 1.33% during mid-day trading on Friday, hitting $124.52. The stock had a trading volume of 2,708,826 shares. The company’s 50 day moving average price is $114.13 and its 200 day moving average price is $103.66. The firm has a market cap of $20.23 billion, a PE ratio of 24.71 and a beta of 0.78. Rockwell Collins has a 52 week low of $78.54 and a 52 week high of $128.43.
Rockwell Collins (NYSE:COL) last posted its quarterly earnings data on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the firm posted $1.63 EPS. Rockwell Collins’s revenue was up 57.0% compared to the same quarter last year. Analysts anticipate that Rockwell Collins will post $6.08 earnings per share for the current year.
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In other Rockwell Collins news, VP Jeffrey A. Standerski sold 6,300 shares of Rockwell Collins stock in a transaction on 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 owns 10,519 shares in the company, valued at approximately $1,140,680.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 18,000 shares of company stock worth $1,480. 1.50% of the stock is owned by company insiders.
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 outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 1.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
COL has been the topic of several recent research reports. Credit Suisse Group restated a “buy” rating and set a $120.00 target price on shares of Rockwell Collins in a report on Wednesday, July 19th. Citigroup Inc. lifted their price target on shares of Rockwell Collins from $93.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday. BidaskClub lowered shares of Rockwell Collins from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Canaccord Genuity raised Rockwell Collins from a “hold” rating to a “buy” rating and boosted their target price for the company from $108.00 to $125.00 in a research report on Tuesday, August 1st. Finally, Morgan Stanley set a $135.00 price objective on Rockwell Collins and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $115.65.
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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