Rockwell Collins (NYSE:COL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $155.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.67% from the stock’s current price.
According to Zacks, “Rockwell Collins continues to be the primary global supplier of communications and avionics equipment for both commercial and military customers. Last year, United Technologies agreed to take over Rockwell Collins, which comes as good news for the latter’s shareholders, who are set to enjoy more than 7% premium in terms of share price. An improving liquidity position enables Rockwell Collins to pursue several investor-friendly practices, including share buyback and payment of regular dividend. Such a solid financial position has enabled the company to outperform its broader industry in past one year. However, Rockwell Collins derives a major portion of its revenues from overseas, which exposes it to the risk of currency fluctuations. “
Several other analysts have also recently weighed in on the stock. Credit Suisse Group cut shares of Rockwell Collins from an “outperform” rating to a “neutral” rating and set a $140.00 price objective on the stock. in a research note on Wednesday, November 8th. Royal Bank of Canada set a $140.00 price objective on shares of Rockwell Collins and gave the stock a “hold” rating in a research note on Sunday, November 12th. Canaccord Genuity decreased their price objective on shares of Rockwell Collins from $140.00 to $137.00 and set a “hold” rating on the stock in a research note on Tuesday, January 30th. Cowen reaffirmed a “hold” rating and set a $135.00 price objective on shares of Rockwell Collins in a research note on Friday, January 26th. Finally, Wells Fargo & Co cut shares of Rockwell Collins from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $134.06.
Rockwell Collins (NYSE:COL) last issued its quarterly earnings data on Friday, January 26th. The aerospace company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.06. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2 billion. Rockwell Collins had a net margin of 10.99% and a return on equity of 19.58%. The company’s quarterly revenue was up 68.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. equities analysts expect that Rockwell Collins will post 7.12 EPS for the current fiscal year.
In related news, CFO Patrick E. Allen sold 25,410 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $135.02, for a total value of $3,430,858.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jeffrey D. Maclauchlan sold 7,634 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $133.24, for a total transaction of $1,017,154.16. Following the completion of the transaction, the vice president now owns 9,179 shares in the company, valued at $1,223,009.96. The disclosure for this sale can be found here. Insiders have sold 36,331 shares of company stock worth $4,891,757 over the last quarter. 1.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Rockwell Collins by 4.6% in the fourth quarter. BlackRock Inc. now owns 11,987,278 shares of the aerospace company’s stock worth $1,625,714,000 after purchasing an additional 523,172 shares during the period. Pentwater Capital Management LP increased its position in shares of Rockwell Collins by 5.6% during the fourth quarter. Pentwater Capital Management LP now owns 3,400,000 shares of the aerospace company’s stock worth $461,108,000 after acquiring an additional 180,000 shares in the last quarter. Farallon Capital Management LLC bought a new stake in shares of Rockwell Collins during the fourth quarter worth $342,853,000. Capital International Investors increased its position in shares of Rockwell Collins by 1,335.8% during the third quarter. Capital International Investors now owns 2,110,600 shares of the aerospace company’s stock worth $275,877,000 after acquiring an additional 1,963,600 shares in the last quarter. Finally, Alpine Associates Management Inc. increased its position in shares of Rockwell Collins by 13.7% during the fourth quarter. Alpine Associates Management Inc. now owns 1,891,700 shares of the aerospace company’s stock worth $256,553,000 after acquiring an additional 228,200 shares in the last quarter. Institutional investors and hedge funds own 70.13% 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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