Rockwell Collins, Inc. (COL) to Issue $0.33 Quarterly Dividend
Rockwell Collins, Inc. (NYSE:COL) declared a quarterly dividend on Tuesday, October 31st, RTT News reports. Investors of record on Monday, November 13th will be given a dividend of 0.33 per share by the aerospace company on Monday, December 4th. This represents a $1.32 dividend on an annualized basis and a yield of 0.97%.
Rockwell Collins has raised its dividend by an average of 3.2% per year over the last three years and has increased its dividend every year for the last 2 years. Rockwell Collins has a dividend payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Rockwell Collins to earn $7.71 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 17.1%.
Rockwell Collins (NYSE COL) traded down 0.07% on Tuesday, reaching $135.60. The company had a trading volume of 699,320 shares. Rockwell Collins has a 1-year low of $81.11 and a 1-year high of $135.97. The stock’s 50 day moving average is $132.69 and its 200-day moving average is $116.75. The stock has a market capitalization of $22.03 billion, a P/E ratio of 26.91 and a beta of 0.73.
Rockwell Collins (NYSE:COL) last issued its quarterly earnings data on Friday, October 27th. The aerospace company reported $1.80 EPS for the quarter, meeting the consensus estimate of $1.80. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.23 billion. Rockwell Collins had a return on equity of 22.00% and a net margin of 10.33%. Rockwell Collins’s quarterly revenue was up 51.8% compared to the same quarter last year. During the same period last year, the company earned $1.58 earnings per share. On average, equities analysts predict that Rockwell Collins will post $7.09 EPS for the current fiscal year.
In related news, Director Harlan Donnley Meade bought 1,666,667 shares of the stock in a transaction that occurred 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 own 1.50% of the company’s stock.
COL has been the topic of several research reports. Credit Suisse Group restated a “buy” rating and issued a $120.00 target price on shares of Rockwell Collins in a research report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) set a $96.00 target price on Rockwell Collins and gave the company a “sell” rating in a research report on Tuesday, August 1st. Morgan Stanley set a $135.00 price objective on Rockwell Collins and gave the stock a “buy” rating in a research report on Thursday, August 17th. BidaskClub downgraded Rockwell Collins from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Vertical Research downgraded Rockwell Collins from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $143.00 to $140.00 in a research report on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Rockwell Collins currently has a consensus rating of “Hold” and an average price target of $127.79.
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Rockwell Collins declared that its board has authorized a stock repurchase plan on Friday, July 7th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors 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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