Blair William & Co. IL lifted its position in shares of Harris Co. (NYSE:HRS) by 20.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,853 shares of the communications equipment provider’s stock after purchasing an additional 1,348 shares during the period. Blair William & Co. IL’s holdings in Harris were worth $1,329,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in HRS. Fort L.P. bought a new stake in shares of Harris during the 2nd quarter worth about $118,000. Patton Albertson Miller Group LLC bought a new stake in shares of Harris during the 3rd quarter worth about $138,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Harris during the 3rd quarter worth about $146,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Harris during the 2nd quarter worth about $188,000. Finally, Cerebellum GP LLC boosted its holdings in shares of 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 buying an additional 1,075 shares during the period. Institutional investors own 84.93% of the company’s stock.
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. The stock has a market capitalization of $16.36 billion, a price-to-earnings ratio of 21.45 and a beta of 1.27. Harris Co. has a 12-month low of $134.30 and a 12-month high of $175.50.
Harris (NYSE:HRS) last posted its quarterly earnings data on Sunday, October 14th. The communications equipment provider reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.06. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. Harris had a net margin of 12.20% and a return on equity of 26.39%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 EPS. On average, research analysts forecast that Harris Co. will post 7.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 23rd were issued a $0.685 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Wednesday, November 21st. Harris’s dividend payout ratio is currently 42.15%.
Several brokerages recently commented on HRS. UBS Group began coverage on shares of Harris in a report on Wednesday, August 15th. They set a “neutral” rating and a $175.00 target price for the company. Barclays reduced their target price on shares of Harris from $181.00 to $161.00 and set an “overweight” rating for the company in a report on Tuesday. Raymond James lifted their target price on shares of Harris from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, October 16th. ValuEngine downgraded shares of Harris from a “buy” rating to a “hold” rating in a report on Saturday, December 1st. Finally, Credit Suisse Group lifted their target price on shares of Harris from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Monday, October 15th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Harris presently has a consensus rating of “Buy” and an average price target of $180.89.
In other Harris news, insider Edward J. Zoiss sold 26,311 shares of the business’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 completion of the sale, the insider now 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 3,903 shares of the business’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 sale, the senior vice president now directly owns 47,243 shares of the company’s stock, valued at approximately $7,594,312.25. The disclosure for this sale can be found here. Insiders own 2.51% of the company’s stock.
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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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