Dimensional Fund Advisors LP Grows Holdings in Harris Co. (HRS)

Dimensional Fund Advisors LP raised its stake in Harris Co. (NYSE:HRS) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 721,763 shares of the communications equipment provider’s stock after purchasing an additional 6,716 shares during the period. Dimensional Fund Advisors LP owned 0.61% of Harris worth $122,123,000 at the end of the most recent quarter.

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

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

Harris (NYSE:HRS) last released its quarterly earnings results on Sunday, October 14th. The communications equipment provider reported $1.78 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 business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the company posted $1.38 earnings per share. Harris’s revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that Harris Co. will post 7.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 23rd were paid a $0.685 dividend. The ex-dividend date was Wednesday, November 21st. This represents a $2.74 annualized dividend and a dividend yield of 1.97%. Harris’s dividend payout ratio (DPR) is presently 42.15%.

In related news, insider Edward J. Zoiss sold 26,311 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 1,286 shares in the company, valued at $209,360.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott T. Mikuen sold 3,903 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now 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.

Several equities analysts have commented on the stock. Barclays decreased their price objective on shares of Harris from $181.00 to $161.00 and set an “overweight” rating on the stock in a report on Tuesday. ValuEngine downgraded shares of Harris from a “buy” rating to a “hold” rating in a report on Saturday, December 1st. Raymond James upped their price objective on shares of Harris from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, October 16th. Credit Suisse Group upped their price objective on shares of Harris from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Monday, October 15th. Finally, Argus upped their price objective on shares of Harris to $190.00 and gave the company a “buy” rating in a report on Thursday, August 16th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $180.89.

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Harris Company Profile

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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