KBC Group NV increased its position in shares of Harris Corporation (NYSE:HRS) by 39.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,473 shares of the communications equipment provider’s stock after acquiring an additional 5,216 shares during the quarter. KBC Group NV’s holdings in Harris were worth $2,433,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Harris by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 13,405,643 shares of the communications equipment provider’s stock worth $1,462,287,000 after acquiring an additional 114,384 shares in the last quarter. BlackRock Inc. raised its stake in shares of Harris by 2.3% during the 2nd quarter. BlackRock Inc. now owns 7,848,843 shares of the communications equipment provider’s stock worth $856,150,000 after acquiring an additional 178,626 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Harris during the 2nd quarter worth approximately $304,508,000. Janus Henderson Group PLC increased its stake in Harris by 12,337.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,459,438 shares of the communications equipment provider’s stock valued at $268,276,000 after purchasing an additional 2,439,664 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Harris by 6.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,890,447 shares of the communications equipment provider’s stock valued at $248,935,000 after purchasing an additional 122,090 shares in the last quarter. Hedge funds and other institutional investors own 84.41% of the company’s stock.
A number of research analysts have issued reports on the stock. Jefferies Group upped their price target on shares of Harris from $135.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Credit Suisse Group restated an “outperform” rating and set a $155.00 price target (up previously from $144.00) on shares of Harris in a research note on Wednesday, November 1st. They noted that the move was a valuation call. J P Morgan Chase & Co upped their price target on shares of Harris from $138.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Harris from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research note on Monday, October 16th. Finally, Seaport Global Securities restated a “buy” rating and set a $145.00 price target (up previously from $135.00) on shares of Harris in a research note on Monday, October 9th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $145.43.
In other news, SVP Scott T. Mikuen sold 13,600 shares of the 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 sale, the senior vice president now owns 61,349 shares in the company, valued at $7,568,012.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.91% of the stock is owned by corporate insiders.
Harris Corporation (HRS) traded up $0.05 during trading hours on Monday, hitting $143.25. 462,200 shares of the stock were exchanged, compared to its average volume of 745,207. The firm has a market capitalization of $17,075.49, a price-to-earnings ratio of 25.26, a P/E/G ratio of 3.41 and a beta of 1.12. Harris Corporation has a 1 year low of $99.13 and a 1 year high of $144.94. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.11 and a quick ratio of 0.64.
Harris (NYSE:HRS) last released its quarterly earnings data on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 had a net margin of 9.02% and a return on equity of 23.36%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 earnings per share. equities research analysts forecast that Harris Corporation will post 5.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a $0.57 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.59%. Harris’s payout ratio is currently 50.89%.
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