Wolfe Research Downgrades Rockwell Collins, Inc. (COL) to Peer Perform
Rockwell Collins, Inc. (NYSE:COL) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued to clients and investors on Wednesday.
COL has been the subject of several other research reports. Vetr upgraded shares of Rockwell Collins from a “hold” rating to a “strong-buy” rating and set a $166.10 price objective for the company in a research note on Monday, August 21st. Canaccord Genuity upgraded shares of Rockwell Collins from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $108.00 to $125.00 in a research note on Tuesday, August 1st. Morgan Stanley set a $135.00 price objective on shares of Rockwell Collins and gave the stock a “buy” rating in a research note on Thursday, August 17th. Citigroup Inc. lifted their price objective on shares of Rockwell Collins from $93.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 15th. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of Rockwell Collins in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $120.91.
Shares of Rockwell Collins (NYSE:COL) traded down 0.2287% on Wednesday, hitting $130.7004. 4,869,735 shares of the stock were exchanged. Rockwell Collins has a one year low of $78.54 and a one year high of $135.31. The company has a 50-day moving average price of $120.69 and a 200-day moving average price of $106.90. The firm has a market capitalization of $21.24 billion, a PE ratio of 25.9378 and a beta of 0.75.
Rockwell Collins (NYSE:COL) last issued its quarterly earnings data on Friday, July 28th. The aerospace company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.06. Rockwell Collins had a net margin of 11.52% and a return on equity of 26.20%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the company earned $1.63 EPS. The business’s revenue was up 57.0% on a year-over-year basis. Equities research analysts expect that Rockwell Collins will post $6.09 earnings per share for the current year.
Rockwell Collins announced that its board has authorized a share buyback program on Friday, July 7th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 1.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Rockwell Collins by 27.0% during the 2nd quarter. Vanguard Group Inc. now owns 16,019,594 shares of the aerospace company’s stock worth $1,683,340,000 after acquiring an additional 3,410,680 shares during the last quarter. BlackRock Inc. grew its holdings in Rockwell Collins by 27.9% during the 2nd quarter. BlackRock Inc. now owns 11,315,505 shares of the aerospace company’s stock worth $1,189,034,000 after acquiring an additional 2,466,370 shares during the last quarter. State Street Corp grew its holdings in Rockwell Collins by 21.9% during the 2nd quarter. State Street Corp now owns 7,140,178 shares of the aerospace company’s stock worth $750,304,000 after acquiring an additional 1,281,647 shares during the last quarter. FMR LLC grew its holdings in Rockwell Collins by 25.4% during the 2nd quarter. FMR LLC now owns 4,238,235 shares of the aerospace company’s stock worth $445,354,000 after acquiring an additional 857,884 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Rockwell Collins by 10.5% during the 1st quarter. Clearbridge Investments LLC now owns 3,362,286 shares of the aerospace company’s stock worth $326,680,000 after acquiring an additional 319,567 shares during the last quarter. 77.86% of the stock is currently owned by hedge funds and other institutional investors.
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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