Quantitative Investment Management LLC lessened its holdings in Harris Co. (NYSE:HRS) by 82.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 27,500 shares of the communications equipment provider’s stock after selling 126,200 shares during the period. Quantitative Investment Management LLC’s holdings in Harris were worth $3,895,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HRS. Tower Research Capital LLC TRC boosted its holdings in shares of Harris by 980.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,243 shares of the communications equipment provider’s stock valued at $176,000 after purchasing an additional 1,128 shares during the last quarter. Calton & Associates Inc. bought a new position in shares of Harris during the 4th quarter valued at about $180,000. First National Bank & Trust Co. of Newtown bought a new position in shares of Harris during the 4th quarter valued at about $200,000. Koshinski Asset Management Inc. bought a new position in shares of Harris during the 4th quarter valued at about $203,000. Finally, HL Financial Services LLC bought a new position in shares of Harris during the 4th quarter valued at about $205,000. 84.99% of the stock is owned by institutional investors and hedge funds.
Harris Co. (NYSE:HRS) opened at $158.18 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.22 and a quick ratio of 0.68. Harris Co. has a 1-year low of $106.18 and a 1-year high of $161.04. The company has a market cap of $18,709.44, a PE ratio of 26.62, a P/E/G ratio of 4.06 and a beta of 1.27.
Harris (NYSE:HRS) last announced its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $1.38 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. research analysts expect that Harris Co. will post 6.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Thursday, March 8th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Wednesday, March 7th. Harris’s payout ratio is 53.90%.
HRS has been the subject of several research reports. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of Harris from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Thursday, January 18th. Cowen reissued a “buy” rating and set a $157.00 price objective on shares of Harris in a report on Monday, January 22nd. Finally, Credit Suisse Group increased their price objective on shares of Harris from $167.00 to $187.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Harris has a consensus rating of “Buy” and an average price target of $154.57.
In other Harris news, SVP Scott T. Mikuen sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $151.18, for a total value of $3,023,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Sheldon J. Fox sold 8,682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $156.00, for a total transaction of $1,354,392.00. Following the completion of the sale, the senior vice president now directly owns 53,724 shares of the company’s stock, valued at approximately $8,380,944. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,882 shares of company stock valued at $12,221,320. 1.91% of the stock is owned by insiders.
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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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