Report
Chris Higgins
EUR 101.80 For Business Accounts Only

Rockwell Collins Reports Fiscal 3Q Results

Narrow-moat Rockwell Collins’ fiscal 2017 third-quarter revenue and EPS beat Street consensus, and management’s fiscal year 2017 guidance calls for sales of $6.8 billion (previously $6.7 billion-$6.8 billion), with total segment operating margins of 19%-20% (unchanged). Following earnings, we are maintaining our narrow-moat rating and $99 fair value estimate; we view shares as slightly overvalued, trading at 12% premium to our fair value estimate. 
Including the B/E Aerospace acquisition, fiscal...
Underlying
Rockwell Collins Inc.

Rockwell Collins designs, produces and supports communications and aviation systems for commercial and military customers and provides information management services through voice and data communication networks and solutions worldwide. The company also provides a range of services and support to its customers through a network of service centers, including equipment repair and overhaul, service parts, field service engineering, training, technical information services and aftermarket used equipment sales. As of Sept 30 2017, the company served customer through its Interior Systems, Commercial Systems, Government Systems and Information Management Services operating segments.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Chris Higgins

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