Rockwell Collins (COL) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Rockwell Collins (NYSE:COL) from a buy rating to a hold rating in a report released on Tuesday.
According to Zacks, “Rockwell Collins continues to be the foremost global supplier of communications and avionics equipment for both commercial and military customers. A diversified portfolio, comprising commercial and government customers, cushions it from risks of reduced orders from either customer group. Moreover, United Technologies has recently agreed to take over Rockwell Collins, which comes as good news for the latter’s shareholders, who are set to enjoy more than 7% premium in terms of share price.The company outperformed its broader industry in past one year. However, the company derives a major portion of its revenues from overseas, which exposes it to the risk of currency fluctuations. The stronger U.S. dollar has actually negatively impacted the company’s sales. As the company operates in a highly competitive market, it has to keep upgrading its technology, or else it can lose out to competitors developing better products.”
A number of other brokerages have also commented on COL. Credit Suisse Group lowered shares of Rockwell Collins from an outperform rating to a neutral rating and set a $140.00 price objective on the stock. in a report on Wednesday, November 8th. Royal Bank of Canada set a $140.00 price objective on shares of Rockwell Collins and gave the stock a hold rating in a report on Sunday, November 12th. Canaccord Genuity restated a hold rating and set a $140.00 price objective on shares of Rockwell Collins in a report on Friday, October 6th. Jefferies Group restated a hold rating and set a $115.00 price objective on shares of Rockwell Collins in a report on Tuesday, October 3rd. Finally, ValuEngine lowered shares of Rockwell Collins from a buy rating to a hold rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Rockwell Collins currently has an average rating of Hold and a consensus target price of $129.01.
Rockwell Collins (NYSE:COL) last issued its quarterly earnings data on Friday, October 27th. The aerospace company reported $1.80 EPS for the quarter, hitting analysts’ consensus estimates of $1.80. Rockwell Collins had a net margin of 10.33% and a return on equity of 22.00%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the business posted $1.58 earnings per share. The firm’s quarterly revenue was up 51.8% on a year-over-year basis. equities analysts predict that Rockwell Collins will post 7.15 earnings per share for the current year.
In other news, VP David J. Nieuwsma sold 2,167 shares of Rockwell Collins stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $133.91, for a total value of $290,182.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Tatum J. Buse sold 19,170 shares of Rockwell Collins stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $135.36, for a total transaction of $2,594,851.20. Following the completion of the transaction, the vice president now directly owns 3,722 shares of the company’s stock, valued at approximately $503,809.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 571,812 shares of company stock valued at $77,350,247. 1.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Fieldpoint Private Securities LLC bought a new position in shares of Rockwell Collins in the 3rd quarter valued at about $100,000. FNY Partners Fund LP bought a new position in shares of Rockwell Collins in the 3rd quarter valued at about $104,000. Highlander Capital Management LLC grew its position in shares of Rockwell Collins by 106.0% in the 2nd quarter. Highlander Capital Management LLC now owns 1,024 shares of the aerospace company’s stock valued at $108,000 after acquiring an additional 527 shares during the period. Sun Life Financial INC grew its position in shares of Rockwell Collins by 16,857.1% in the 2nd quarter. Sun Life Financial INC now owns 1,187 shares of the aerospace company’s stock valued at $125,000 after acquiring an additional 1,180 shares during the period. Finally, Acrospire Investment Management LLC bought a new position in shares of Rockwell Collins in the 2nd quarter valued at about $137,000. 72.18% of the stock is owned by institutional investors.
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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