National Asset Management Inc. Increases Holdings in Harris Corporation (HRS)

National Asset Management Inc. raised its position in shares of Harris Corporation (NYSE:HRS) by 56.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,333 shares of the communications equipment provider’s stock after buying an additional 1,200 shares during the quarter. National Asset Management Inc.’s holdings in Harris Corporation were worth $364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont raised its stake in Harris Corporation by 20.6% during the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 157 shares in the last quarter. BB&T Investment Services Inc. bought a new position in shares of Harris Corporation during the second quarter valued at approximately $113,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Harris Corporation by 110.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock valued at $131,000 after purchasing an additional 632 shares during the last quarter. BT Investment Management Ltd bought a new position in shares of Harris Corporation during the second quarter valued at approximately $157,000. Finally, Stephens Inc. AR bought a new position in shares of Harris Corporation during the second quarter valued at approximately $167,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

In other news, SVP Scott T. Mikuen sold 13,600 shares of Harris Corporation stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total value of $1,677,696.00. Following the completion of the transaction, the senior vice president now owns 61,349 shares in the company, valued at $7,568,012.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Sheldon J. Fox sold 50,300 shares of Harris Corporation stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the completion of the transaction, the senior vice president now owns 73,092 shares of the company’s stock, valued at approximately $8,642,398.08. The disclosure for this sale can be found here. Insiders sold 72,357 shares of company stock valued at $8,643,111 in the last quarter. 1.91% of the stock is currently owned by corporate insiders.

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Shares of Harris Corporation (HRS) traded down 0.04% during trading on Friday, reaching $136.56. The company had a trading volume of 397,299 shares. The firm has a 50-day moving average of $128.98 and a 200-day moving average of $116.40. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $137.16. The company has a market cap of $16.35 billion, a P/E ratio of 30.78 and a beta of 1.18.

Harris Corporation (NYSE:HRS) last posted its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.49. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company posted $1.45 earnings per share. Harris Corporation’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Harris Corporation will post $6.01 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a $0.57 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.67%. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. Harris Corporation’s payout ratio is 51.47%.

Several equities analysts have recently commented on HRS shares. Cowen and Company reaffirmed a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a report on Thursday, July 6th. BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Harris Corporation from a “sell”

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont raised its stake in Harris Corporation by 20.6% during the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 157 shares in the last quarter. BB&T Investment Services Inc. bought a new position in shares of Harris Corporation during the second quarter valued at approximately $113,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Harris Corporation by 110.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock valued at $131,000 after purchasing an additional 632 shares during the last quarter. BT Investment Management Ltd bought a new position in shares of Harris Corporation during the second quarter valued at approximately $157,000. Finally, Stephens Inc. AR bought a new position in shares of Harris Corporation during the second quarter valued at approximately $167,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.

In other news, SVP Scott T. Mikuen sold 13,600 shares of Harris Corporation stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total value of $1,677,696.00. Following the completion of the transaction, the senior vice president now owns 61,349 shares in the company, valued at $7,568,012.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Sheldon J. Fox sold 50,300 shares of Harris Corporation stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the completion of the transaction, the senior vice president now owns 73,092 shares of the company’s stock, valued at approximately $8,642,398.08. The disclosure for this sale can be found here. Insiders sold 72,357 shares of company stock valued at $8,643,111 in the last quarter. 1.91% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: This piece of content was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/15/national-asset-management-inc-increases-holdings-in-harris-corporation-hrs.html.

Shares of Harris Corporation (HRS) traded down 0.04% during trading on Friday, reaching $136.56. The company had a trading volume of 397,299 shares. The firm has a 50-day moving average of $128.98 and a 200-day moving average of $116.40. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $137.16. The company has a market cap of $16.35 billion, a P/E ratio of 30.78 and a beta of 1.18.

Harris Corporation (NYSE:HRS) last posted its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.49. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company posted $1.45 earnings per share. Harris Corporation’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Harris Corporation will post $6.01 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a $0.57 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.67%. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. Harris Corporation’s payout ratio is 51.47%.

Several equities analysts have recently commented on HRS shares. Cowen and Company reaffirmed a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a report on Thursday, July 6th. BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a report on Friday, July 7th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $145.00 target price (up from $135.00) on shares of Harris Corporation in a report on Monday, October 9th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $128.00.

Harris Corporation Company Profile

Institutional Ownership by Quarter for Harris Corporation (NYSE:HRS)

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