Mitsubishi UFJ Trust & Banking Corp Boosts Stake in Rockwell Collins, Inc. (COL)
Mitsubishi UFJ Trust & Banking Corp boosted its stake in Rockwell Collins, Inc. (NYSE:COL) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 372,126 shares of the aerospace company’s stock after buying an additional 24,164 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.23% of Rockwell Collins worth $39,103,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in shares of Rockwell Collins by 2.9% in the first quarter. Nisa Investment Advisors LLC now owns 27,646 shares of the aerospace company’s stock valued at $2,686,000 after buying an additional 785 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Rockwell Collins during the first quarter valued at $249,000. Candriam Luxembourg S.C.A. raised its position in shares of Rockwell Collins by 0.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 15,225 shares of the aerospace company’s stock valued at $1,479,000 after buying an additional 103 shares during the period. Waldron LP raised its position in shares of Rockwell Collins by 53.3% in the first quarter. Waldron LP now owns 3,825 shares of the aerospace company’s stock valued at $365,000 after buying an additional 1,330 shares during the period. Finally, Korea Investment CORP raised its position in shares of Rockwell Collins by 46.4% in the first quarter. Korea Investment CORP now owns 53,798 shares of the aerospace company’s stock valued at $5,227,000 after buying an additional 17,045 shares during the period. 77.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of Rockwell Collins, Inc. (NYSE COL) opened at 130.54 on Thursday. The stock’s 50 day moving average price is $116.76 and its 200 day moving average price is $104.93. The firm has a market capitalization of $21.21 billion, a P/E ratio of 25.91 and a beta of 0.78. Rockwell Collins, Inc. has a 52 week low of $78.54 and a 52 week high of $131.63. Rockwell Collins also saw unusually large options trading activity on Tuesday. Traders purchased 8,208 put options on the company. This represents an increase of approximately 451% compared to the average daily volume of 1,489 put options.
Rockwell Collins (NYSE:COL) last posted its earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. The company 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%. Rockwell Collins’s quarterly revenue was up 57.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.63 EPS. On average, analysts predict that Rockwell Collins, Inc. will post $6.09 EPS for the current fiscal year.
The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, August 10th. Rockwell Collins’s dividend payout ratio is presently 26.04%.
Rockwell Collins announced that its board has initiated a share repurchase program on Friday, July 7th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the aerospace company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
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COL has been the topic of several research reports. Jefferies Group LLC set a $108.00 target price on Rockwell Collins and gave the stock a “hold” rating in a research report on Monday, May 22nd. Sanford C. Bernstein initiated coverage on Rockwell Collins in a research report on Thursday, May 25th. They issued an “outperform” rating and a $129.00 target price on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $114.00 target price on shares of Rockwell Collins in a research report on Friday, May 26th. Bank of America Corporation cut their target price on Rockwell Collins from $115.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, June 9th. Finally, ValuEngine raised Rockwell Collins from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $119.62.
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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