TIAA FSB lifted its stake in Harris Corporation (NYSE:HRS) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,639 shares of the communications equipment provider’s stock after purchasing an additional 1,396 shares during the quarter. TIAA FSB’s holdings in Harris Corporation were worth $4,166,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of HRS. 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. purchased a new position in shares of Harris Corporation during the second quarter worth $113,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Harris Corporation by 110.3% in 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 period. BT Investment Management Ltd purchased a new position in Harris Corporation in the second quarter valued at $157,000. Finally, Stephens Inc. AR purchased a new position in Harris Corporation in the second quarter valued at $167,000. 84.68% of the stock is owned by institutional investors.
In other news, SVP Sheldon J. Fox sold 50,300 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the completion of the sale, the senior vice president now directly owns 73,092 shares in the company, valued at approximately $8,642,398.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Scott T. Mikuen sold 13,600 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total value of $1,677,696.00. Following the sale, 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. Insiders sold a total of 68,287 shares of company stock valued at $8,159,066 over the last quarter. 1.91% of the stock is currently owned by insiders.
Shares of Harris Corporation (HRS) traded up $1.20 during trading hours 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 fifty-two week low of $99.13 and a fifty-two week 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 stock has a market cap of $16,540.33, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 3.31 and a beta of 1.12.
Harris Corporation (NYSE:HRS) last posted its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. Harris Corporation had a return on equity of 23.36% and a net margin of 9.02%. Harris Corporation’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. sell-side analysts expect that Harris Corporation will post 5.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders 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 annualized dividend and a yield of 1.64%. Harris Corporation’s dividend payout ratio (DPR) is presently 50.89%.
HRS has been the subject of a number of recent research reports. Cowen and Company reiterated a “buy” rating and issued a $134.00 target price (up from $125.00) on shares of Harris Corporation in a report on Tuesday, September 12th. ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Seaport Global Securities reiterated a “buy” rating and set a $145.00 target price (up previously from $135.00) on shares of Harris Corporation in a research report on Monday, October 9th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $135.00 target price on shares of Harris Corporation in a research report on Thursday, September 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $145.43.
Harris Corporation Profile
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