Zacks Investment Research downgraded shares of Rockwell Collins, Inc. (NYSE:COL) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

According to Zacks, “Rockwell continues to be the foremost global supplier of communications and avionics equipment for both commercial and military customers. A diversified portfolio, comprising both commercial and government customers, protects it from risks of reduced orders from either customer class. Going ahead, its focus on R&D and steady investments should enable it to achieve its target for fiscal 2017. Moreover, the company’s Pulse.Aero acquisition aims to improve its passenger processing services at airports. Also, it outperformed the Zacks Categorized Aerospace-Defense Equipment industry, in last one year. However, Rockwell Collins derives a major portion of its revenues from overseas, which exposes it to the risk of currency fluctuations. Moreover, it lacks a stable alternative supplier for certain goods or services. Also, the company generates majority of revenues from fixed-price contracts, exposing its bottom line to cost over-runs.”

A number of other equities research analysts have also commented on the company. Credit Suisse Group upgraded Rockwell Collins from a neutral rating to an outperform rating and increased their price target for the stock from $92.00 to $120.00 in a research report on Monday, March 20th. Royal Bank Of Canada reissued a hold rating and issued a $114.00 price target on shares of Rockwell Collins in a research note on Friday, May 26th. Jefferies Group LLC set a $108.00 price target on Rockwell Collins and gave the company a hold rating in a research note on Monday, May 22nd. ValuEngine raised Rockwell Collins from a hold rating to a buy rating in a research note on Thursday, July 6th. Finally, Canaccord Genuity reissued a hold rating and issued a $90.00 price target on shares of Rockwell Collins in a research note on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Rockwell Collins has an average rating of Buy and a consensus price target of $111.32.

Shares of Rockwell Collins (NYSE:COL) traded down 0.18% on Friday, hitting $110.31. The stock had a trading volume of 1,229,978 shares. The firm’s 50-day moving average is $105.16 and its 200 day moving average is $98.27. Rockwell Collins has a 1-year low of $78.54 and a 1-year high of $111.11. The stock has a market cap of $17.91 billion, a P/E ratio of 19.80 and a beta of 0.79.

Rockwell Collins (NYSE:COL) last posted its quarterly earnings results on Friday, April 21st. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Rockwell Collins had a return on equity of 34.40% and a net margin of 13.83%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 EPS. Equities analysts forecast that Rockwell Collins will post $6.05 EPS for the current year.

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Rockwell Collins declared that its Board of Directors has authorized a stock buyback plan on Friday, July 7th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the aerospace company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In related news, VP David J. Nieuwsma sold 6,250 shares of Rockwell Collins stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $105.00, for a total transaction of $656,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Bruce Michael King sold 2,550 shares of Rockwell Collins stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $104.00, for a total value of $265,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders bought 27,000 shares of company stock valued at $2,200 and sold 15,100 shares valued at $1,604,622. 1.50% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of COL. BlackRock Inc. boosted its position 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 worth $859,783,000 after buying an additional 8,593,416 shares during the last quarter. FMR LLC boosted its position in Rockwell Collins by 39.4% in the first quarter. FMR LLC now owns 3,380,351 shares of the aerospace company’s stock worth $328,435,000 after buying an additional 955,588 shares during the last quarter. Wells Fargo & Company MN boosted its position 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 worth $174,249,000 after buying an additional 675,976 shares during the last quarter. Primecap Management Co. CA acquired a new position in Rockwell Collins during the first quarter worth approximately $55,546,000. Finally, Vanguard Group Inc. boosted its position 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 worth $1,225,082,000 after buying an additional 497,170 shares during the last quarter. Institutional investors and hedge funds own 66.07% 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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