CIBC Asset Management Inc raised its stake in shares of Rockwell Collins, Inc. (NYSE:COL) by 26.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,298 shares of the aerospace company’s stock after buying an additional 3,224 shares during the period. CIBC Asset Management Inc’s holdings in Rockwell Collins were worth $1,608,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Toronto Dominion Bank increased its position in Rockwell Collins by 53.5% in the first quarter. Toronto Dominion Bank now owns 36,902 shares of the aerospace company’s stock valued at $3,585,000 after buying an additional 12,858 shares during the period. Schwab Charles Investment Management Inc. increased its position in Rockwell Collins by 4.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 408,655 shares of the aerospace company’s stock valued at $39,705,000 after buying an additional 15,531 shares during the period. Renaissance Technologies LLC increased its position in Rockwell Collins by 6.1% in the first quarter. Renaissance Technologies LLC now owns 1,057,600 shares of the aerospace company’s stock valued at $102,756,000 after buying an additional 60,900 shares during the period. New England Research & Management Inc. acquired a new position in Rockwell Collins during the second quarter valued at $633,000. Finally, Bank of Nova Scotia increased its position in Rockwell Collins by 4,434.1% in the first quarter. Bank of Nova Scotia now owns 130,447 shares of the aerospace company’s stock valued at $12,675,000 after buying an additional 127,570 shares during the period. Hedge funds and other institutional investors own 66.74% of the company’s stock.
Shares of Rockwell Collins, Inc. (NYSE:COL) opened at 126.43 on Thursday. The firm has a market capitalization of $20.54 billion, a PE ratio of 25.09 and a beta of 0.78. Rockwell Collins, Inc. has a 52-week low of $78.54 and a 52-week high of $128.43. The company has a 50 day moving average of $110.01 and a 200 day moving average of $102.04.
Rockwell Collins (NYSE:COL) last released its quarterly earnings data on Friday, July 28th. The aerospace company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. Rockwell Collins had a return on equity of 26.20% and a net margin of 11.52%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The firm’s revenue was up 57.0% on a year-over-year basis. On average, analysts anticipate that Rockwell Collins, Inc. will post $6.10 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Monday, August 14th will be issued a $0.33 dividend. The ex-dividend date is Thursday, August 10th. This represents a $1.32 dividend on an annualized basis and a yield of 1.04%. Rockwell Collins’s dividend payout ratio is currently 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 buyback $200.00 million in shares. This buyback authorization authorizes the aerospace company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several equities analysts have weighed in on COL shares. Canaccord Genuity upgraded shares of Rockwell Collins from a “hold” rating to a “buy” rating and raised their target price for the company from $108.00 to $125.00 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. Cowen and Company restated a “market perform” rating and set a $115.00 target price on shares of Rockwell Collins in a report on Friday, July 28th. Sanford C. Bernstein started coverage on shares of Rockwell Collins in a report on Thursday, May 25th. They set an “outperform” rating and a $129.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Rockwell Collins from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $113.79.
In related news, VP Jeffrey A. Standerski sold 6,300 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was 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 $1,140,680.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 18,000 shares of company stock worth $1,480 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.
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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