Rockwell Collins, Inc. (COL) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Rockwell Collins, Inc. (NYSE:COL) by 28.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 465,851 shares of the aerospace company’s stock after buying an additional 102,832 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.29% of Rockwell Collins worth $48,952,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in COL. Whittier Trust Co. increased its position in Rockwell Collins by 30.1% in the first quarter. Whittier Trust Co. now owns 1,106 shares of the aerospace company’s stock valued at $108,000 after buying an additional 256 shares in the last quarter. IFP Advisors Inc increased its position in Rockwell Collins by 2.2% in the first quarter. IFP Advisors Inc now owns 6,430 shares of the aerospace company’s stock valued at $625,000 after buying an additional 140 shares in the last quarter. Russell Investments Group Ltd. increased its position in Rockwell Collins by 28.2% in the first quarter. Russell Investments Group Ltd. now owns 41,326 shares of the aerospace company’s stock valued at $4,016,000 after buying an additional 9,102 shares in the last quarter. Strs Ohio increased its position in Rockwell Collins by 0.4% in the first quarter. Strs Ohio now owns 137,371 shares of the aerospace company’s stock valued at $13,346,000 after buying an additional 541 shares in the last quarter. Finally, Shell Asset Management Co. increased its position in Rockwell Collins by 9.2% in the first quarter. Shell Asset Management Co. now owns 48,620 shares of the aerospace company’s stock valued at $4,724,000 after buying an additional 4,099 shares in the last quarter. 67.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rockwell Collins, Inc. (NYSE COL) opened at 129.09 on Friday. The firm has a 50-day moving average price of $116.76 and a 200-day moving average price of $104.93. The firm has a market cap of $20.97 billion, a PE ratio of 25.62 and a beta of 0.78. Rockwell Collins, Inc. has a 52 week low of $78.54 and a 52 week high of $130.37.
Rockwell Collins (NYSE:COL) last announced its earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.06. Rockwell Collins had a return on equity of 26.20% and a net margin of 11.52%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The company’s revenue for the quarter was up 57.0% compared to the same quarter last year. On average, equities research analysts predict that Rockwell Collins, Inc. will post $6.09 earnings per share for the current year.
Rockwell Collins announced that its board has authorized a stock buyback plan on Friday, July 7th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the aerospace company to buy up to 1.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders 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 dividend yield of 1.02%. The ex-dividend date is Thursday, August 10th. Rockwell Collins’s dividend payout ratio is presently 26.04%.
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Several research firms have commented on COL. BidaskClub upgraded Rockwell Collins from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Citigroup Inc. increased their target price on Rockwell Collins from $93.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, August 15th. Morgan Stanley set a $135.00 target price on Rockwell Collins and gave the company a “buy” rating in a research report on Thursday, August 17th. Vetr upgraded Rockwell Collins from a “hold” rating to a “strong-buy” rating and set a $166.10 target price for the company in a research report on Monday, August 21st. Finally, Vertical Research upgraded Rockwell Collins from a “hold” rating to a “buy” rating and increased their target price for the company 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 given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Rockwell Collins currently has a consensus rating of “Buy” and a consensus target price of $119.62.
In other news, VP Jeffrey A. Standerski sold 6,300 shares of Rockwell Collins stock in a transaction that occurred 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 sale, the vice president now 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 is accessible through this hyperlink. Insiders have bought 14,000 shares of company stock valued at $1,120 in the last ninety days. Insiders own 1.50% of the company’s stock.
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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