Rockwell Collins, Inc. (COL) Downgraded by Drexel Hamilton
Rockwell Collins, Inc. (NYSE:COL) was downgraded by investment analysts at Drexel Hamilton from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
Several other research analysts have also weighed in on the stock. Canaccord Genuity lowered shares of Rockwell Collins from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank AG lowered shares of Rockwell Collins from a “buy” rating to a “hold” rating in a report on Tuesday. Vertical Research lowered shares of Rockwell Collins from a “buy” rating to a “hold” rating and cut their price objective for the stock from $143.00 to $140.00 in a report on Tuesday. Buckingham Research reiterated a “neutral” rating on shares of Rockwell Collins in a report on Tuesday. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $115.00 price objective on shares of Rockwell Collins in a report on Sunday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $119.48.
Rockwell Collins (NYSE:COL) opened at 131.00 on Wednesday. Rockwell Collins has a 52 week low of $78.54 and a 52 week high of $135.31. The company has a market capitalization of $21.28 billion, a PE ratio of 26.00 and a beta of 0.75. The stock’s 50 day moving average price is $120.69 and its 200-day moving average price is $106.89.
Rockwell Collins (NYSE:COL) last released its quarterly earnings results on Friday, July 28th. The aerospace company reported $1.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period last year, the company earned $1.63 EPS. The firm’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 will post $6.09 earnings per share for the current fiscal year.
Rockwell Collins declared that its board has approved a share repurchase program on Friday, July 7th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the aerospace company to reacquire up to 1.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
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A number of institutional investors have recently added to or reduced their stakes in COL. BlackRock Inc. boosted its holdings in Rockwell Collins by 3,360.5% in the first quarter. BlackRock Inc. now owns 8,849,135 shares of the aerospace company’s stock worth $859,783,000 after purchasing an additional 8,593,416 shares during the period. Vanguard Group Inc. boosted its holdings in Rockwell Collins by 27.0% in the second quarter. Vanguard Group Inc. now owns 16,019,594 shares of the aerospace company’s stock worth $1,683,340,000 after purchasing an additional 3,410,680 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Rockwell Collins by 186.0% in the second quarter. Epoch Investment Partners Inc. now owns 2,028,189 shares of the aerospace company’s stock worth $213,122,000 after purchasing an additional 1,319,020 shares during the period. Franklin Resources Inc. boosted its holdings in Rockwell Collins by 76.0% in the second quarter. Franklin Resources Inc. now owns 2,999,186 shares of the aerospace company’s stock worth $315,130,000 after purchasing an additional 1,295,052 shares during the period. Finally, State Street Corp boosted its holdings in Rockwell Collins by 21.9% in the second quarter. State Street Corp now owns 7,140,178 shares of the aerospace company’s stock worth $750,304,000 after purchasing an additional 1,281,647 shares during the period. 77.86% of the stock is 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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