Amalgamated Bank Acquires 9,295 Shares of Rockwell Collins, Inc. (COL)
Amalgamated Bank increased its holdings in Rockwell Collins, Inc. (NYSE:COL) by 94.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,152 shares of the aerospace company’s stock after purchasing an additional 9,295 shares during the period. Amalgamated Bank’s holdings in Rockwell Collins were worth $2,012,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. raised its position in Rockwell Collins by 61.5% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 10,173 shares of the aerospace company’s stock worth $1,069,000 after purchasing an additional 3,873 shares in the last quarter. BlackRock Inc. grew its stake in Rockwell Collins by 27.9% during the second quarter. BlackRock Inc. now owns 11,315,505 shares of the aerospace company’s stock worth $1,189,034,000 after buying an additional 2,466,370 shares during the last quarter. Bruderman Asset Management LLC grew its stake in Rockwell Collins by 11.1% during the second quarter. Bruderman Asset Management LLC now owns 2,893 shares of the aerospace company’s stock worth $304,000 after buying an additional 289 shares during the last quarter. Nationwide Fund Advisors grew its stake in Rockwell Collins by 539.3% during the second quarter. Nationwide Fund Advisors now owns 235,118 shares of the aerospace company’s stock worth $24,706,000 after buying an additional 198,342 shares during the last quarter. Finally, Comerica Securities Inc. grew its stake in Rockwell Collins by 17.4% during the second quarter. Comerica Securities Inc. now owns 2,810 shares of the aerospace company’s stock worth $295,000 after buying an additional 416 shares during the last quarter. 72.31% of the stock is owned by hedge funds and other institutional investors.
COL has been the topic of several research analyst reports. Credit Suisse Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of Rockwell Collins in a research note on Wednesday, July 19th. Citigroup Inc. upped their price objective on shares of Rockwell Collins from $93.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 15th. Jefferies Group LLC reaffirmed a “hold” rating and set a $115.00 price objective on shares of Rockwell Collins in a research note on Sunday, September 3rd. Buckingham Research reaffirmed a “neutral” rating on shares of Rockwell Collins in a research note on Tuesday, September 5th. Finally, Drexel Hamilton cut shares of Rockwell Collins from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Rockwell Collins presently has an average rating of “Hold” and a consensus target price of $122.34.
In other Rockwell Collins news, Director Harlan Donnley Meade bought 1,666,667 shares of Rockwell Collins stock in a transaction on Friday, September 15th. The shares were purchased at an average cost of $0.06 per share, with a total value of $100,000.02. Insiders have acquired a total of 1,675,667 shares of company stock worth $100,720 over the last three months. Insiders own 1.50% of the company’s stock.
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Rockwell Collins, Inc. (NYSE:COL) opened at 130.56 on Tuesday. Rockwell Collins, Inc. has a 52 week low of $78.54 and a 52 week high of $135.31. The company has a market capitalization of $21.21 billion, a PE ratio of 25.91 and a beta of 0.75. The firm has a 50-day moving average of $126.07 and a 200-day moving average of $109.13.
Rockwell Collins (NYSE:COL) last released its quarterly earnings data on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.06. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Rockwell Collins had a net margin of 11.52% and a return on equity of 26.20%. The firm’s quarterly revenue was up 57.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 EPS. Equities analysts expect that Rockwell Collins, Inc. will post $6.09 earnings per share for the current fiscal year.
Rockwell Collins announced that its board has authorized a share buyback program on Friday, July 7th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 1.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Thursday, August 10th. Rockwell Collins’s payout ratio is 26.04%.
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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