Rockwell Collins, Inc. Plans Quarterly Dividend of $0.33 (COL)
Rockwell Collins, Inc. (NYSE:COL) declared a quarterly dividend on Tuesday, August 1st, Wall Street Journal reports. Stockholders 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 dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, August 10th.
Rockwell Collins has raised its dividend by an average of 3.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Rockwell Collins has a payout ratio of 21.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Rockwell Collins to earn $7.23 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 18.3%.
Rockwell Collins (COL) opened at 125.70 on Wednesday. The firm has a market cap of $20.42 billion, a price-to-earnings ratio of 24.95 and a beta of 0.78. The stock’s 50 day moving average price is $108.30 and its 200 day moving average price is $101.17. Rockwell Collins has a 52 week low of $78.54 and a 52 week high of $126.33.
Rockwell Collins (NYSE:COL) last issued its quarterly earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $2.04 billion. During the same quarter last year, the company posted $1.63 EPS. The company’s revenue for the quarter was up 57.0% compared to the same quarter last year. On average, equities research analysts predict that Rockwell Collins will post $6.10 EPS for the current year.
Several equities research analysts recently weighed in on the company. BidaskClub raised Rockwell Collins from a “sell” rating to a “hold” rating in a report on Tuesday. Jefferies Group LLC set a $108.00 price objective on Rockwell Collins and gave the company a “hold” rating in a report on Monday, May 22nd. Vertical Research raised their price objective on Rockwell Collins from $100.00 to $110.00 and gave the company a “hold” rating in a report on Monday, April 24th. Bank of America Corporation cut their price objective on Rockwell Collins from $115.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, June 9th. Finally, Cowen and Company reissued an “outperform” rating and set a $112.00 price objective on shares of Rockwell Collins in a report on Monday, April 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $113.79.
In related news, VP Jeffrey A. Standerski sold 6,300 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $108.44, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased a total of 18,000 shares of company stock valued at $1,480 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.
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Rockwell Collins declared that its Board of Directors has initiated a stock buyback plan on Friday, July 7th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
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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