Harris Co. (HRS) Shares Bought by Blair William & Co. IL

Blair William & Co. IL increased its stake in shares of Harris Co. (NYSE:HRS) by 20.7% in the third quarter, HoldingsChannel reports. The firm owned 7,853 shares of the communications equipment provider’s stock after buying an additional 1,348 shares during the quarter. Blair William & Co. IL’s holdings in Harris were worth $1,329,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Fort L.P. acquired a new position in Harris during the 2nd quarter worth approximately $118,000. Patton Albertson Miller Group LLC acquired a new position in Harris during the 3rd quarter worth approximately $138,000. Harvest Fund Management Co. Ltd acquired a new position in Harris during the 3rd quarter worth approximately $146,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Harris during the 2nd quarter worth approximately $188,000. Finally, Cerebellum GP LLC increased its position in Harris by 2,067.3% during the 3rd quarter. Cerebellum GP LLC now owns 1,127 shares of the communications equipment provider’s stock worth $191,000 after purchasing an additional 1,075 shares in the last quarter. Institutional investors and hedge funds own 84.93% of the company’s stock.

Shares of NYSE HRS opened at $139.40 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 1.05. Harris Co. has a 52-week low of $134.30 and a 52-week high of $175.50. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 21.45 and a beta of 1.27.

Harris (NYSE:HRS) last announced its quarterly earnings results on Sunday, October 14th. The communications equipment provider reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.06. Harris had a net margin of 12.20% and a return on equity of 26.39%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company posted $1.38 EPS. The company’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts expect that Harris Co. will post 7.86 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 23rd were paid a $0.685 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Wednesday, November 21st. Harris’s dividend payout ratio is currently 42.15%.

In other news, insider Edward J. Zoiss sold 26,311 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $162.80, for a total value of $4,283,430.80. Following the sale, the insider now directly owns 1,286 shares of the company’s stock, valued at approximately $209,360.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 3,903 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $160.75, for a total transaction of $627,407.25. Following the completion of the sale, the senior vice president now directly owns 47,243 shares in the company, valued at $7,594,312.25. The disclosure for this sale can be found here. Corporate insiders own 2.51% of the company’s stock.

HRS has been the subject of several recent research reports. Argus upped their price target on shares of Harris to $190.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Barclays upgraded shares of Harris from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $189.00 to $181.00 in a research report on Tuesday, November 13th. Raymond James upped their price target on shares of Harris from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, October 16th. UBS Group initiated coverage on shares of Harris in a research report on Wednesday, August 15th. They issued a “neutral” rating and a $175.00 price target for the company. Finally, Credit Suisse Group upped their price target on shares of Harris from $190.00 to $209.00 and gave the company an “outperform” rating in a research report on Monday, October 15th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $180.89.

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About Harris

Harris Corporation provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.

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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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