Mutual of America Capital Management LLC raised its holdings in Harris Corporation (NYSE:HRS) by 3.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,476 shares of the communications equipment provider’s stock after acquiring an additional 1,035 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Harris Corporation were worth $3,618,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. Trust Co. of Vermont raised its stake in Harris Corporation by 20.6% in the 2nd quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock valued at $100,000 after purchasing an additional 157 shares during the last quarter. BB&T Investment Services Inc. acquired a new position in Harris Corporation in the 2nd quarter valued at about $113,000. Northwestern Mutual Wealth Management Co. raised its stake in Harris Corporation by 110.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock valued at $131,000 after purchasing an additional 632 shares during the last quarter. BT Investment Management Ltd acquired a new position in Harris Corporation in the 2nd quarter valued at about $157,000. Finally, Stephens Inc. AR acquired a new position in Harris Corporation in the 2nd quarter valued at about $167,000. 84.68% of the stock is owned by institutional investors.
Several research firms have commented on HRS. Zacks Investment Research upgraded Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. BidaskClub cut Harris Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Seaport Global Securities reiterated a “buy” rating and set a $145.00 target price (up previously from $135.00) on shares of Harris Corporation in a report on Monday, October 9th. Credit Suisse Group reiterated an “outperform” rating and set a $155.00 target price (up previously from $144.00) on shares of Harris Corporation in a report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $150.00 target price on shares of Harris Corporation in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $145.43.
Harris Corporation (NYSE:HRS) traded up $1.20 on Friday, reaching $138.76. The company’s stock had a trading volume of 591,800 shares, compared to its average volume of 753,265. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.11 and a quick ratio of 0.64. Harris Corporation has a 12-month low of $99.13 and a 12-month high of $141.97. The firm has a market cap of $16,397.23, a price-to-earnings ratio of 24.26, a P/E/G ratio of 3.28 and a beta of 1.12.
Harris Corporation (NYSE:HRS) last issued its quarterly earnings data on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.03. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.44 billion. Harris Corporation had a return on equity of 23.36% and a net margin of 9.02%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. equities research analysts expect that Harris Corporation will post 5.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.64%. Harris Corporation’s dividend payout ratio (DPR) is 50.89%.
In related news, SVP Scott T. Mikuen sold 13,600 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the sale, the senior vice president now owns 61,349 shares in the company, valued at $7,568,012.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Sheldon J. Fox sold 50,300 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 73,092 shares in the company, valued at approximately $8,642,398.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,287 shares of company stock worth $8,159,066. Corporate insiders own 1.91% of the company’s stock.
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Harris Corporation Company Profile
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