Zacks Investment Research Downgrades Rockwell Collins Inc. (COL) to Sell
Rockwell Collins Inc. (NYSE:COL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “Rockwell Collins derives a major portion of its revenues from outside the U.S., which exposes it to the risk of currency fluctuations, and economic and political turmoil. A highly competitive market and high exposure to fixed-price contracts also may hurt its performance, going forward. Reflecting investor sentiments, estimates have been moving downward in the last 60 days. However, Rockwell Collins’ stable financial position, focus on research & development and systematic investments in inorganic growth programs should enable it to achieve its target for fiscal 2016. A diversified portfolio, comprising both commercial and government customers, protects it from the risk of reduced orders from either customer class.”
Several other brokerages have also recently commented on COL. Morgan Stanley began coverage on shares of Rockwell Collins in a research report on Thursday, June 23rd. They set an “equal weight” rating on the stock. Jefferies Group reaffirmed a “hold” rating and set a $92.00 price target on shares of Rockwell Collins in a research report on Wednesday, August 10th. Argus cut shares of Rockwell Collins from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Finally, Canaccord Genuity cut shares of Rockwell Collins from a “buy” rating to a “hold” rating and reduced their price target for the stock from $100.00 to $94.00 in a research report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Rockwell Collins has a consensus rating of “Hold” and a consensus price target of $91.42.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/09/zacks-investment-research-downgrades-rockwell-collins-inc-col-to-sell.html
Shares of Rockwell Collins (NYSE:COL) opened at 82.73 on Tuesday. The stock’s 50 day moving average price is $83.81 and its 200 day moving average price is $86.91. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of 15.59 and a beta of 0.73. Rockwell Collins has a 52 week low of $76.03 and a 52 week high of $95.11.
Rockwell Collins (NYSE:COL) last issued its quarterly earnings results on Monday, July 25th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.59 by $0.04. Rockwell Collins had a net margin of 13.54% and a return on equity of 37.06%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the company posted $1.33 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Rockwell Collins will post $5.50 EPS for the current fiscal year.
In other news, COO Philip J. Jasper sold 2,184 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $85.00, for a total value of $185,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Bruce Michael King sold 3,174 shares of the stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $85.48, for a total transaction of $271,313.52. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cacti Asset Management LLC boosted its stake in shares of Rockwell Collins by 1.7% in the third quarter. Cacti Asset Management LLC now owns 365,893 shares of the company’s stock worth $30,859,000 after buying an additional 6,000 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Rockwell Collins by 7.5% in the second quarter. Macquarie Group Ltd. now owns 287,674 shares of the company’s stock worth $24,493,000 after buying an additional 20,148 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Rockwell Collins during the second quarter worth $448,000. Kentucky Retirement Systems acquired a new stake in shares of Rockwell Collins during the second quarter worth $943,000. Finally, Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Rockwell Collins by 48.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 550,314 shares of the company’s stock worth $46,854,000 after buying an additional 179,847 shares during the last quarter. Institutional investors and hedge funds own 76.45% of the company’s stock.
Rockwell Collins Company Profile
Rockwell Collins, Inc is engaged in design, production and support of communications and aviation electronics for commercial and military customers around the world. The Company’s products and systems are focused on aviation applications. It operates in two segments: Government Systems and Commercial Systems.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rockwell Collins Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rockwell Collins Inc. and related companies with MarketBeat.com's FREE daily email newsletter.