Glenview Trust Co Acquires 1,863 Shares of Rockwell Collins, Inc. (COL)
Glenview Trust Co raised its holdings in shares of Rockwell Collins, Inc. (NYSE:COL) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,703 shares of the aerospace company’s stock after purchasing an additional 1,863 shares during the period. Glenview Trust Co’s holdings in Rockwell Collins were worth $6,063,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in COL. Waldron LP increased its stake in Rockwell Collins by 53.3% during the first quarter. Waldron LP now owns 3,825 shares of the aerospace company’s stock valued at $365,000 after purchasing an additional 1,330 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Rockwell Collins by 28.2% during the first quarter. Russell Investments Group Ltd. now owns 41,326 shares of the aerospace company’s stock valued at $4,016,000 after purchasing an additional 9,102 shares during the last quarter. American Century Companies Inc. bought a new stake in Rockwell Collins during the first quarter valued at $1,594,000. Suntrust Banks Inc. increased its stake in Rockwell Collins by 28.3% during the first quarter. Suntrust Banks Inc. now owns 4,472 shares of the aerospace company’s stock valued at $433,000 after purchasing an additional 987 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Rockwell Collins by 10.5% during the first quarter. UBS Asset Management Americas Inc. now owns 336,300 shares of the aerospace company’s stock valued at $32,675,000 after purchasing an additional 32,007 shares during the last quarter. Hedge funds and other institutional investors own 72.31% of the company’s stock.
In other news, Director Harlan Donnley Meade purchased 1,666,667 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average price of $0.06 per share, for a total transaction of $100,000.02. In the last quarter, insiders purchased 1,675,667 shares of company stock worth $100,720. 1.50% of the stock is owned by company insiders.
Several analysts have weighed in on COL shares. Credit Suisse Group reiterated a “buy” rating and set a $120.00 target price on shares of Rockwell Collins in a research note on Wednesday, July 19th. Citigroup Inc. boosted their price target on shares of Rockwell Collins from $93.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Jefferies Group LLC reissued a “hold” rating and set a $115.00 price target on shares of Rockwell Collins in a report on Sunday, September 3rd. Buckingham Research reissued a “neutral” rating on shares of Rockwell Collins in a report on Tuesday, September 5th. Finally, Drexel Hamilton downgraded shares of Rockwell Collins from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $123.46.
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Shares of Rockwell Collins, Inc. (NYSE:COL) traded up 0.07% during midday trading on Friday, reaching $130.48. 1,980,416 shares of the company’s stock were exchanged. Rockwell Collins, Inc. has a 1-year low of $78.54 and a 1-year high of $135.31. The company has a market capitalization of $21.20 billion, a PE ratio of 25.89 and a beta of 0.75. The firm has a 50-day moving average of $126.75 and a 200-day moving average of $109.38.
Rockwell Collins (NYSE:COL) last posted its quarterly earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.06. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Rockwell Collins had a return on equity of 26.20% and a net margin of 11.52%. The firm’s quarterly revenue was up 57.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. Equities analysts expect that Rockwell Collins, Inc. will post $6.09 earnings per share for the current fiscal year.
Rockwell Collins declared that its Board of Directors has initiated a share buyback program on Friday, July 7th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to buy up to 1.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 14th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, August 10th. Rockwell Collins’s dividend payout ratio is 26.04%.
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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