Scotia Capital Inc. Invests $272,000 in Harris Corporation (HRS) Stock

Scotia Capital Inc. bought a new position in Harris Corporation (NYSE:HRS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,495 shares of the communications equipment provider’s stock, valued at approximately $272,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. OppenheimerFunds Inc. boosted its holdings in Harris Corporation by 1.1% in the first quarter. OppenheimerFunds Inc. now owns 7,929 shares of the communications equipment provider’s stock valued at $882,000 after purchasing an additional 87 shares during the last quarter. FMR LLC lifted its holdings in Harris Corporation by 38.6% during the 1st quarter. FMR LLC now owns 1,587,040 shares of the communications equipment provider’s stock worth $176,590,000 after buying an additional 441,769 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Harris Corporation by 34.3% during the 1st quarter. Teachers Advisors LLC now owns 239,732 shares of the communications equipment provider’s stock worth $26,675,000 after buying an additional 61,223 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Harris Corporation by 123.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 283,156 shares of the communications equipment provider’s stock worth $31,507,000 after buying an additional 156,686 shares during the last quarter. Finally, Cleararc Capital Inc. lifted its holdings in Harris Corporation by 0.8% during the 1st quarter. Cleararc Capital Inc. now owns 3,047 shares of the communications equipment provider’s stock worth $339,000 after buying an additional 23 shares during the last quarter. 84.98% of the stock is owned by institutional investors.

In related news, SVP Sheldon J. Fox sold 50,300 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the transaction, the senior vice president now directly owns 73,092 shares in the company, valued at $8,642,398.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher D. Young sold 4,070 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $118.93, for a total transaction of $484,045.10. Following the transaction, the insider now owns 46,131 shares in the company, valued at $5,486,359.83. The disclosure for this sale can be found here. Insiders have sold 72,357 shares of company stock valued at $8,643,111 over the last quarter. Corporate insiders own 1.91% of the company’s stock.

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A number of research analysts have commented on HRS shares. Cowen and Company reaffirmed a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a report on Thursday, July 6th. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Harris Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Jefferies Group LLC reiterated a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a research report on Friday, July 7th. Finally, Seaport Global Securities reiterated a “buy” rating and set a $145.00 price target (up from $135.00) on shares of Harris Corporation in a research report on Monday, October 9th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Harris Corporation presently has an average rating of “Buy” and an average target price of $133.86.

Harris Corporation (NYSE:HRS) opened at 136.905 on Friday. Harris Corporation has a 12 month low of $88.89 and a 12 month high of $137.64. The firm has a market capitalization of $16.40 billion, a PE ratio of 30.862 and a beta of 1.18. The stock’s 50 day moving average price is $131.69 and its 200 day moving average price is $117.89.

Harris Corporation (NYSE:HRS) last issued its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.49. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $1.45 earnings per share. Equities research analysts expect that Harris Corporation will post $6.01 earnings per share for the current fiscal year.

Harris Corporation Company Profile

Institutional Ownership by Quarter for Harris Corporation (NYSE:HRS)

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