Harris Corporation (HRS) Shares Bought by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC boosted its stake in Harris Corporation (NYSE:HRS) by 53.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 179,757 shares of the communications equipment provider’s stock after buying an additional 62,575 shares during the period. Stephens Investment Management Group LLC owned 0.15% of Harris Corporation worth $23,670,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. EP Wealth Advisors LLC lifted its holdings in shares of Harris Corporation by 1.0% during the second quarter. EP Wealth Advisors LLC now owns 1,875 shares of the communications equipment provider’s stock valued at $205,000 after purchasing an additional 19 shares during the last quarter. Blue Chip Partners Inc. increased its position in shares of Harris Corporation by 1.0% during the second quarter. Blue Chip Partners Inc. now owns 2,729 shares of the communications equipment provider’s stock valued at $298,000 after acquiring an additional 26 shares in the last quarter. Thrivent Financial For Lutherans increased its position in shares of Harris Corporation by 0.6% during the second quarter. Thrivent Financial For Lutherans now owns 4,685 shares of the communications equipment provider’s stock valued at $511,000 after acquiring an additional 30 shares in the last quarter. Comerica Securities Inc. increased its position in shares of Harris Corporation by 3.5% during the second quarter. Comerica Securities Inc. now owns 2,068 shares of the communications equipment provider’s stock valued at $226,000 after acquiring an additional 70 shares in the last quarter. Finally, Ropes Wealth Advisors LLC increased its position in shares of Harris Corporation by 5.4% during the second quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock valued at $178,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 83.84% of the company’s stock.

In related news, 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 transaction of $1,677,696.00. Following the transaction, the senior vice president now owns 61,349 shares in the company, valued at approximately $7,568,012.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 4,387 shares of Harris Corporation stock in a transaction on Friday, September 8th. The shares were sold at an average price of $121.70, for a total transaction of $533,897.90. The disclosure for this sale can be found here. Insiders own 1.91% of the company’s stock.

Several equities research analysts recently weighed in on HRS shares. Credit Suisse Group started coverage on shares of Harris Corporation in a research report on Monday, August 28th. They set an “outperform” rating and a $144.00 price target for the company. Cowen and Company reissued a “buy” rating and set a $134.00 price target (up previously from $125.00) on shares of Harris Corporation in a research report on Tuesday, September 12th. Zacks Investment Research raised shares of Harris Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a research report on Monday, October 16th. Jefferies Group LLC raised their price target on shares of Harris Corporation from $135.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Finally, Seaport Global Securities reissued a “buy” rating and set a $145.00 price target (up previously from $135.00) on shares of Harris Corporation in a research report on Monday, October 9th. 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.

Shares of Harris Corporation (NYSE HRS) traded up $2.08 during mid-day trading on Tuesday, hitting $141.92. 571,300 shares of the stock were exchanged, compared to its average volume of 746,274. Harris Corporation has a 12-month low of $99.13 and a 12-month high of $142.04. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 1.11. The company has a market cap of $16,670.00, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 3.33 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Harris Corporation had a net margin of 9.02% and a return on equity of 23.36%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. sell-side analysts expect that Harris Corporation will post 5.99 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, November 16th. Harris Corporation’s payout ratio is 42.62%.

COPYRIGHT VIOLATION NOTICE: This piece was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://ledgergazette.com/2017/11/21/harris-corporation-hrs-shares-bought-by-stephens-investment-management-group-llc.html.

Harris Corporation Profile

Want to see what other hedge funds are holding HRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harris Corporation (NYSE:HRS).

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

Receive News & Ratings for Harris Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply