Citizens Financial Group Inc RI boosted its position in Harris Corporation (NYSE:HRS) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,861 shares of the communications equipment provider’s stock after purchasing an additional 486 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Harris were worth $7,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. KBC Group NV increased its holdings in shares of Harris by 39.3% in the 3rd quarter. KBC Group NV now owns 18,473 shares of the communications equipment provider’s stock worth $2,433,000 after buying an additional 5,216 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Harris by 10.2% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,416 shares of the communications equipment provider’s stock worth $6,375,000 after buying an additional 4,500 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Harris in the 3rd quarter worth $540,000. New York State Common Retirement Fund increased its holdings in shares of Harris by 2.3% in the 3rd quarter. New York State Common Retirement Fund now owns 272,500 shares of the communications equipment provider’s stock worth $35,883,000 after buying an additional 6,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Harris by 1.8% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 45,152 shares of the communications equipment provider’s stock worth $5,971,000 after buying an additional 800 shares during the last quarter. 83.84% of the stock is currently owned by hedge funds and other institutional investors.
Harris Corporation (HRS) opened at $156.66 on Monday. The company has a current ratio of 1.22, a quick ratio of 0.68 and a debt-to-equity ratio of 1.13. Harris Corporation has a twelve month low of $106.18 and a twelve month high of $160.67. The company has a market cap of $18,670.00, a price-to-earnings ratio of 30.18, a P/E/G ratio of 4.03 and a beta of 1.29.
Harris (NYSE:HRS) last released its earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.28. Harris had a net margin of 8.63% and a return on equity of 24.49%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm earned $1.38 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. research analysts forecast that Harris Corporation will post 6.48 earnings per share for the current year.
A number of equities analysts have recently commented on HRS shares. Zacks Investment Research lowered shares of Harris from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Cowen reissued a “buy” rating and issued a $157.00 price target on shares of Harris in a report on Monday, January 22nd. Credit Suisse Group reissued an “outperform” rating and issued a $155.00 price target (up previously from $144.00) on shares of Harris in a report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Jefferies Group increased their price target on shares of Harris from $135.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $154.57.
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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.
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