UPDATE: Goldman Sachs Lowers Rockwell Collins' PT

According to a research report published earlier today, Goldman Sachs has reduced Rockwell Collins' COL PT from $62 to $60. In the report, Goldman Sachs said, "2QFY12 EPS of $1.09 matched consensus and was $0.02 above our $1.07 estimate. Total revenue in the quarter of $1.16 bn was 2% below our estimate. Commercial revenue missed our estimate by 3% while Government revenue was roughly in line. Total EBIT margin came in at 18.4%, slightly below our 18.5% estimate on higher corporate expense as both segment margins were in line with our estimate. Collins reiterated its full-year EPS guidance of $4.40-$4.60 (which compares to consensus of $4.48); however, it lowered revenue guidance by 2% to $4.85bn from the previous range of $4.9-$5.0 bn, citing international Government contract delays and unit reductions at one business jet OEM." Goldman Sachs maintains its Neutral rating on Rockwell Collins, which is currently trading at $55.10.