Rockwell Collins, Inc. (COL) Shares Bought by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. increased its stake in shares of Rockwell Collins, Inc. (NYSE:COL) by 7.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 64,403 shares of the aerospace company’s stock after buying an additional 4,237 shares during the period. PNC Financial Services Group Inc.’s holdings in Rockwell Collins were worth $6,767,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. NEXT Financial Group Inc boosted its holdings in shares of Rockwell Collins by 35.7% during the 2nd quarter. NEXT Financial Group Inc now owns 950 shares of the aerospace company’s stock worth $100,000 after buying an additional 250 shares during the period. Jacobi Capital Management LLC boosted its holdings in shares of Rockwell Collins by 30.0% during the 2nd quarter. Jacobi Capital Management LLC now owns 1,001 shares of the aerospace company’s stock worth $108,000 after buying an additional 231 shares during the period. Global X Management Co. LLC boosted its holdings in shares of Rockwell Collins by 31.1% during the 1st quarter. Global X Management Co. LLC now owns 1,173 shares of the aerospace company’s stock worth $114,000 after buying an additional 278 shares during the period. Harfst & Associates Inc. bought a new stake in shares of Rockwell Collins during the 1st quarter worth about $114,000. Finally, Whittier Trust Co. boosted its holdings in shares of Rockwell Collins by 3.2% during the 2nd quarter. Whittier Trust Co. now owns 1,141 shares of the aerospace company’s stock worth $120,000 after buying an additional 35 shares during the period. 72.31% of the stock is owned by institutional investors and hedge funds.
Rockwell Collins, Inc. (COL) opened at 130.48 on Friday. The stock has a 50 day moving average of $126.75 and a 200 day moving average of $109.38. Rockwell Collins, Inc. has a 12 month low of $78.54 and a 12 month high of $135.31. The firm has a market capitalization of $21.20 billion, a PE ratio of 25.89 and a beta of 0.75.
Rockwell Collins (NYSE:COL) last released its quarterly earnings data on Friday, July 28th. The aerospace company reported $1.64 EPS 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 company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the business earned $1.63 earnings per share. Rockwell Collins’s revenue was up 57.0% compared to the same quarter last year. On average, equities analysts predict that Rockwell Collins, Inc. will post $6.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 14th were paid a $0.33 dividend. 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 dividend payout ratio is currently 26.04%.
Rockwell Collins announced that its Board of Directors has authorized a share repurchase plan on Friday, July 7th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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In related news, Director Harlan Donnley Meade bought 1,666,667 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $0.06 per share, with a total value of $100,000.02. Insiders purchased 1,675,667 shares of company stock worth $100,720 over the last ninety days. 1.50% of the stock is currently owned by insiders.
COL has been the subject of several research analyst reports. Vetr raised shares of Rockwell Collins from a “hold” rating to a “strong-buy” rating and set a $166.10 target price for the company in a report on Monday, August 21st. Canaccord Genuity raised shares of Rockwell Collins from a “hold” rating to a “buy” rating and lifted their target price for the stock from $108.00 to $125.00 in a report on Tuesday, August 1st. Morgan Stanley set a $135.00 target price on shares of Rockwell Collins and gave the stock a “buy” rating in a report on Thursday, August 17th. Citigroup Inc. lifted their target price on shares of Rockwell Collins from $93.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, August 15th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Rockwell Collins in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Rockwell Collins has an average rating of “Hold” and a consensus price target of $123.46.
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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