Credit Suisse Group Reiterates “Buy” Rating for Rockwell Collins, Inc. (NYSE:COL)
Rockwell Collins, Inc. (NYSE:COL)‘s stock had its “buy” rating reaffirmed by equities researchers at Credit Suisse Group in a research note issued to investors on Wednesday. They currently have a $120.00 target price on the aerospace company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 8.46% from the company’s current price.
Several other equities research analysts also recently issued reports on COL. BidaskClub upgraded Rockwell Collins from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Rockwell Collins from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Wednesday, July 12th. ValuEngine raised shares of Rockwell Collins from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $135.00 price target on shares of Rockwell Collins in a report on Friday, July 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $124.00 price target (down previously from $125.00) on shares of Rockwell Collins in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $111.32.
Rockwell Collins (COL) traded up 0.98% during mid-day trading on Wednesday, hitting $110.64. The stock had a trading volume of 736,619 shares. The stock has a market cap of $17.97 billion, a PE ratio of 19.86 and a beta of 0.79. The firm’s 50-day moving average price is $106.55 and its 200-day moving average price is $99.65. Rockwell Collins has a 1-year low of $78.54 and a 1-year high of $111.11.
Rockwell Collins (NYSE:COL) last posted its quarterly earnings data on Friday, April 21st. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. Rockwell Collins had a return on equity of 34.40% and a net margin of 13.83%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the business earned $1.30 earnings per share. Rockwell Collins’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts expect that Rockwell Collins will post $6.05 earnings per share for the current year.
Rockwell Collins declared that its Board of Directors has approved a stock repurchase plan on Friday, July 7th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the aerospace company to purchase up to 1.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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In related news, VP Bruce Michael King sold 2,550 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $104.00, for a total transaction of $265,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David J. Nieuwsma sold 6,250 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $105.00, for a total transaction of $656,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 27,000 shares of company stock worth $2,200 and have sold 15,100 shares worth $1,604,622. Corporate insiders own 1.50% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake 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 valued at $859,783,000 after buying an additional 8,593,416 shares in the last quarter. Shelton Capital Management increased its position in Rockwell Collins by 14,737.9% in the fourth quarter. Shelton Capital Management now owns 2,000,000 shares of the aerospace company’s stock valued at $1,250,000 after buying an additional 1,986,521 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Rockwell Collins by 20.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,024,418 shares of the aerospace company’s stock valued at $592,439,000 after buying an additional 1,171,517 shares during the last quarter. Clearbridge Investments LLC increased its position in Rockwell Collins by 303.4% in the fourth quarter. Clearbridge Investments LLC now owns 1,499,317 shares of the aerospace company’s stock valued at $138,387,000 after buying an additional 1,127,689 shares during the last quarter. Finally, Norges Bank bought a new position in Rockwell Collins during the fourth quarter valued at about $103,492,000. 66.07% of the stock is owned by institutional investors.
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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