Fox Run Management L.L.C. Increases Position in Harris Corporation (HRS)

Fox Run Management L.L.C. increased its stake in shares of Harris Corporation (NYSE:HRS) by 69.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,935 shares of the communications equipment provider’s stock after acquiring an additional 2,835 shares during the quarter. Fox Run Management L.L.C.’s holdings in Harris were worth $982,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HRS. Capital Research Global Investors bought a new position in Harris during the second quarter worth $304,508,000. Janus Henderson Group PLC increased its position in Harris by 12,337.7% during the second quarter. Janus Henderson Group PLC now owns 2,459,438 shares of the communications equipment provider’s stock worth $268,276,000 after acquiring an additional 2,439,664 shares during the period. Koch Industries Inc. bought a new position in Harris during the second quarter worth $612,000. Gotham Asset Management LLC increased its position in Harris by 192.8% during the second quarter. Gotham Asset Management LLC now owns 329,220 shares of the communications equipment provider’s stock worth $35,911,000 after acquiring an additional 216,777 shares during the period. Finally, Victory Capital Management Inc. increased its position in Harris by 985.3% during the third quarter. Victory Capital Management Inc. now owns 229,844 shares of the communications equipment provider’s stock worth $30,266,000 after acquiring an additional 208,666 shares during the period. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Shares of Harris Corporation (NYSE HRS) opened at $145.74 on Friday. The stock has a market cap of $17,595.20, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 4.05 and a beta of 1.13. The company has a quick ratio of 0.64, a current ratio of 1.11 and a debt-to-equity ratio of 1.14. Harris Corporation has a fifty-two week low of $99.13 and a fifty-two week high of $148.73.

Harris (NYSE:HRS) last announced its quarterly earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.03. Harris had a net margin of 9.02% and a return on equity of 23.36%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the firm posted $1.28 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. equities research analysts forecast that Harris Corporation will post 6.08 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Harris from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a report on Thursday. Cowen reissued a “buy” rating and issued a $150.00 price target on shares of Harris in a report on Tuesday, October 31st. ValuEngine lowered shares of Harris from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. JPMorgan Chase & Co. boosted their price target on shares of Harris from $138.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Finally, Jefferies Group reissued a “buy” rating and issued a $135.00 price target on shares of Harris in a report on Thursday, September 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Harris presently has a consensus rating of “Buy” and an average target price of $147.14.

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Harris Company Profile

Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless and technology, among others, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services.

Institutional Ownership by Quarter for Harris (NYSE:HRS)

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