Acrospire Investment Management LLC Takes $137,000 Position in Rockwell Collins, Inc. (COL)
Acrospire Investment Management LLC acquired a new stake in Rockwell Collins, Inc. (NYSE:COL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,300 shares of the aerospace company’s stock, valued at approximately $137,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COL. NEXT Financial Group Inc boosted its stake in Rockwell Collins by 35.7% in the second quarter. NEXT Financial Group Inc now owns 950 shares of the aerospace company’s stock valued at $100,000 after acquiring an additional 250 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in Rockwell Collins by 30.0% in the second quarter. Jacobi Capital Management LLC now owns 1,001 shares of the aerospace company’s stock valued at $108,000 after acquiring an additional 231 shares in the last quarter. Global X Management Co. LLC boosted its stake in Rockwell Collins by 31.1% in the first quarter. Global X Management Co. LLC now owns 1,173 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 278 shares in the last quarter. Harfst & Associates Inc. acquired a new position in Rockwell Collins in the first quarter valued at $114,000. Finally, Whittier Trust Co. boosted its stake in Rockwell Collins by 3.2% in the second quarter. Whittier Trust Co. now owns 1,141 shares of the aerospace company’s stock valued at $120,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 72.31% of the company’s stock.
COL has been the subject of several research analyst reports. Credit Suisse Group restated a “buy” rating and issued a $120.00 price objective on shares of Rockwell Collins in a research note on Wednesday, July 19th. Citigroup Inc. upped their price objective on shares of Rockwell Collins from $93.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, August 15th. Jefferies Group LLC restated a “hold” rating and issued a $115.00 price objective on shares of Rockwell Collins in a research note on Sunday, September 3rd. Buckingham Research restated a “neutral” rating on shares of Rockwell Collins in a research note on Tuesday, September 5th. Finally, Drexel Hamilton downgraded shares of Rockwell Collins from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $122.34.
Rockwell Collins, Inc. (COL) traded up 0.20% on Tuesday, reaching $130.82. 561,761 shares of the company traded hands. The company has a 50-day moving average price of $126.07 and a 200-day moving average price of $109.13. Rockwell Collins, Inc. has a 12 month low of $78.54 and a 12 month high of $135.31. The company has a market capitalization of $21.25 billion, a P/E ratio of 25.96 and a beta of 0.75.
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, beating analysts’ consensus estimates of $1.58 by $0.06. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. Rockwell Collins had a net margin of 11.52% and a return on equity of 26.20%. Rockwell Collins’s revenue was up 57.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 EPS. Equities research analysts expect that Rockwell Collins, Inc. will post $6.09 EPS for the current year.
Rockwell Collins announced that its board has approved a share repurchase program on Friday, July 7th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 1.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th were paid a dividend of $0.33 per share. 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 payout ratio is 26.04%.
In other news, Director Harlan Donnley Meade bought 1,666,667 shares of Rockwell Collins stock in a transaction on Friday, September 15th. The stock was purchased at an average cost of $0.06 per share, with a total value of $100,000.02. Insiders have acquired a total of 1,675,667 shares of company stock valued at $100,720 over the last three months. 1.50% of the stock is currently owned by company insiders.
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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