Bank of New York Mellon Corp Has $128.62 Million Stake in Rockwell Collins, Inc. (COL)
Bank of New York Mellon Corp raised its position in Rockwell Collins, Inc. (NYSE:COL) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,224,020 shares of the aerospace company’s stock after buying an additional 64,178 shares during the period. Bank of New York Mellon Corp owned approximately 0.75% of Rockwell Collins worth $128,618,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its stake 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 valued at $859,783,000 after buying an additional 8,593,416 shares in the last quarter. FMR LLC raised its stake in Rockwell Collins by 39.4% in the first quarter. FMR LLC now owns 3,380,351 shares of the aerospace company’s stock valued at $328,435,000 after buying an additional 955,588 shares in the last quarter. Wells Fargo & Company MN raised its stake 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 valued at $174,249,000 after buying an additional 675,976 shares in the last quarter. Primecap Management Co. CA purchased a new stake in Rockwell Collins during the first quarter valued at about $55,546,000. Finally, Vanguard Group Inc. raised its stake 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 valued at $1,225,082,000 after buying an additional 497,170 shares in the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.
Rockwell Collins, Inc. (COL) opened at 124.59 on Thursday. Rockwell Collins, Inc. has a 1-year low of $78.54 and a 1-year high of $128.43. The company has a market cap of $20.24 billion, a P/E ratio of 24.73 and a beta of 0.78. The stock’s 50 day moving average is $115.46 and its 200 day moving average is $104.48.
Rockwell Collins (NYSE:COL) last posted its earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06. Rockwell Collins had a net margin of 11.52% and a return on equity of 26.20%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the firm posted $1.63 earnings per share. Rockwell Collins’s revenue for the quarter was up 57.0% compared to the same quarter last year. Equities analysts anticipate that Rockwell Collins, Inc. will post $6.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, August 10th. Rockwell Collins’s payout ratio is 26.04%.
Rockwell Collins declared that its board has approved a stock repurchase program on Friday, July 7th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the aerospace company to repurchase 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.
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Several research firms recently issued reports on COL. BidaskClub upgraded shares of Rockwell Collins from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Citigroup Inc. increased their price target on shares of Rockwell Collins from $93.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 15th. Morgan Stanley set a $135.00 price target on shares of Rockwell Collins and gave the stock a “buy” rating in a research report on Thursday, August 17th. Vetr upgraded shares of Rockwell Collins from a “hold” rating to a “strong-buy” rating and set a $166.10 price target on the stock in a research report on Monday. Finally, Vertical Research upgraded shares of Rockwell Collins from a “hold” rating to a “buy” rating and increased their price target for the stock from $130.00 to $143.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Rockwell Collins presently has a consensus rating of “Buy” and a consensus price target of $119.62.
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 transaction of $683,172.00. Following the completion of the transaction, the vice president now directly owns 10,519 shares of the company’s stock, valued at $1,140,680.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 14,000 shares of company stock valued at $1,120 over the last ninety days. 1.50% of the stock is owned by 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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