Voya Investment Management LLC raised its holdings in shares of Harris Corporation (NYSE:HRS) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,919 shares of the communications equipment provider’s stock after buying an additional 57 shares during the period. Voya Investment Management LLC owned about 0.07% of Harris Corporation worth $9,591,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Trust Co. of Vermont lifted its position in Harris Corporation by 20.6% during the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 157 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Harris Corporation by 110.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock valued at $131,000 after buying an additional 632 shares in the last quarter. BT Investment Management Ltd acquired a new position in Harris Corporation during the second quarter valued at approximately $157,000. Stephens Inc. AR acquired a new position in Harris Corporation during the second quarter valued at approximately $167,000. Finally, Ropes Wealth Advisors LLC lifted its position in 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 buying an additional 84 shares in the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Sheldon J. Fox sold 50,300 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $118.24, for a total value of $5,947,472.00. Following the completion of the sale, the senior vice president now owns 73,092 shares of the company’s stock, valued at approximately $8,642,398.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $118.93, for a total value of $484,045.10. Following the sale, the insider now directly owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The disclosure for this sale can be found here. In the last three months, insiders sold 72,357 shares of company stock valued at $8,643,111. 1.91% of the stock is currently owned by company insiders.
Harris Corporation (HRS) opened at 135.66 on Friday. Harris Corporation has a 12 month low of $88.89 and a 12 month high of $135.75. The firm’s 50-day moving average is $126.26 and its 200-day moving average is $115.47. The firm has a market capitalization of $16.25 billion, a PE ratio of 30.58 and a beta of 1.18.
Harris Corporation (NYSE:HRS) last announced its quarterly earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.49. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.45 EPS. On average, equities research analysts expect that Harris Corporation will post $6.01 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were paid a $0.57 dividend. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 1.68%. Harris Corporation’s payout ratio is presently 51.47%.
HRS has been the topic of a number of recent research reports. BidaskClub cut shares of Harris Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research cut shares of Harris Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Cowen and Company reaffirmed a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a research report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a research report on Friday, July 7th. Finally, Credit Suisse Group initiated 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 on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $121.33.
Harris Corporation Profile
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