Rockwell Collins, Inc. (NYSE:COL) Plans Quarterly Dividend of $0.33
Rockwell Collins, Inc. (NYSE:COL) declared a quarterly dividend on Tuesday, August 1st, Wall Street Journal reports. Stockholders of record on Monday, August 14th will be given a dividend of 0.33 per share by the aerospace company on Tuesday, September 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, August 10th.
Rockwell Collins has increased its dividend by an average of 3.2% annually over the last three years and has raised its dividend every year for the last 2 years. Rockwell Collins has a dividend payout ratio of 21.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Rockwell Collins to earn $7.23 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 18.3%.
Rockwell Collins (NYSE:COL) traded down 0.93% on Friday, hitting $124.58. The stock had a trading volume of 2,253,717 shares. The company’s 50 day moving average is $111.19 and its 200-day moving average is $102.45. Rockwell Collins has a 12 month low of $78.54 and a 12 month high of $128.43. The stock has a market cap of $20.24 billion, a P/E ratio of 24.72 and a beta of 0.78.
Rockwell Collins (NYSE:COL) last issued its earnings results on Friday, July 28th. The aerospace company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. Rockwell Collins had a return on equity of 26.20% and a net margin of 11.52%. The company’s revenue was up 57.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. Analysts forecast that Rockwell Collins will post $6.08 EPS for the current year.
In other Rockwell Collins news, VP Jeffrey A. Standerski sold 6,300 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $108.44, for a total transaction of $683,172.00. Following the transaction, the vice president now owns 10,519 shares in the company, valued at approximately $1,140,680.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 18,000 shares of company stock worth $1,480 in the last quarter. 1.50% of the stock is currently owned by insiders.
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A number of brokerages have issued reports on COL. BidaskClub upgraded Rockwell Collins from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine downgraded Rockwell Collins from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Cowen and Company restated a “hold” rating and issued a $115.00 target price on shares of Rockwell Collins in a research report on Thursday, August 3rd. Jefferies Group LLC restated a “hold” rating and issued a $115.00 target price (up previously from $108.00) on shares of Rockwell Collins in a research report on Monday, July 31st. Finally, Canaccord Genuity raised Rockwell Collins from a “hold” rating to a “buy” rating and increased their price target for the company from $108.00 to $125.00 in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company’s stock. Rockwell Collins currently has an average rating of “Hold” and an average target price of $113.79.
Rockwell Collins declared that its Board of Directors has initiated a share repurchase 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 reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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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