Harris Corporation (NYSE:HRS) Holdings Cut by State Treasurer State of Michigan

State Treasurer State of Michigan decreased its holdings in shares of Harris Corporation (NYSE:HRS) by 9.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,357 shares of the communications equipment provider’s stock after selling 3,700 shares during the quarter. State Treasurer State of Michigan’s holdings in Harris Corporation were worth $4,787,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Trust Co. of Vermont increased 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 worth $100,000 after acquiring an additional 157 shares during the last quarter. BB&T Investment Services Inc. acquired a new stake in Harris Corporation during the second quarter worth $113,000. Northwestern Mutual Wealth Management Co. increased its stake in 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 worth $131,000 after acquiring an additional 632 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Harris Corporation during the second quarter worth $157,000. Finally, Stephens Inc. AR acquired a new stake in Harris Corporation during the second quarter worth $167,000. 84.68% of the stock is owned by institutional investors.



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Shares of Harris Corporation (NYSE HRS) traded up $1.20 during midday trading on Friday, hitting $138.76. The stock had a trading volume of 591,800 shares, compared to its average volume of 579,372. Harris Corporation has a twelve month low of $99.13 and a twelve month high of $141.97. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.11 and a quick ratio of 0.64. The firm has a market capitalization of $16,540.33, a PE ratio of 24.47, a PEG ratio of 3.31 and a beta of 1.12.

Harris Corporation (NYSE:HRS) last issued its quarterly earnings data on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Harris Corporation had a return on equity of 23.36% and a net margin of 9.02%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 earnings per share. analysts expect that Harris Corporation will post 5.99 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a yield of 1.64%. Harris Corporation’s dividend payout ratio (DPR) is presently 50.89%.

HRS has been the subject of several recent analyst reports. ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised Harris Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Credit Suisse Group initiated coverage on Harris Corporation in a research note on Monday, August 28th. They set an “outperform” rating and a $144.00 target price for the company. J P Morgan Chase & Co raised their target price on Harris Corporation from $138.00 to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Finally, BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Harris Corporation currently has an average rating of “Buy” and a consensus price target of $145.43.

In related news, SVP Sheldon J. Fox sold 50,300 shares of Harris Corporation stock in a transaction on Monday, August 21st. The stock was sold at an average price of $118.24, for a total value of $5,947,472.00. Following the completion of the transaction, the senior vice president now directly owns 73,092 shares in the company, valued at $8,642,398.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 13,600 shares of Harris Corporation stock in a transaction 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 of the company’s stock, valued at $7,568,012.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,287 shares of company stock valued at $8,159,066. 1.91% of the stock is currently owned by company insiders.

Harris Corporation Profile

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

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