TrueNorth Inc. boosted its stake in Harris Corporation (NYSE:HRS) by 29.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,261 shares of the communications equipment provider’s stock after buying an additional 1,430 shares during the period. TrueNorth Inc.’s holdings in Harris Corporation were worth $824,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Trust Co. of Vermont boosted its stake in Harris Corporation by 20.6% during the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 157 shares in the last quarter. BB&T Investment Services Inc. acquired a new position in shares of Harris Corporation in the 2nd quarter valued at $113,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 period. BT Investment Management Ltd acquired a new position in shares of Harris Corporation in the 2nd quarter valued at $157,000. Finally, Stephens Inc. AR acquired a new position in shares of Harris Corporation in the 2nd quarter valued at $167,000. 84.68% of the stock is owned by institutional investors.
HRS has been the subject of several research analyst reports. Zacks Investment Research raised Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. BidaskClub lowered Harris Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Seaport Global Securities reaffirmed a “buy” rating and issued 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 reissued an “outperform” rating and set a $155.00 price objective (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 reissued a “buy” rating and set a $150.00 price objective on shares of Harris Corporation in a report on Tuesday, October 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Harris Corporation has an average rating of “Buy” and an average price target of $145.43.
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In other news, SVP Scott T. Mikuen sold 13,600 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total value of $1,677,696.00. Following the sale, the senior vice president now directly owns 61,349 shares in the company, valued at $7,568,012.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $5,947,472.00. Following the completion of the sale, the senior vice president now owns 73,092 shares in the company, valued at $8,642,398.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,287 shares of company stock valued at $8,159,066. Insiders own 1.91% of the company’s stock.
Shares of Harris Corporation (NYSE HRS) opened at $138.76 on Friday. The firm has a market capitalization of $16,397.23, a price-to-earnings ratio of 24.26, a PEG ratio of 3.28 and a beta of 1.12. Harris Corporation has a 52-week low of $99.13 and a 52-week high of $141.97. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 1.11.
Harris Corporation (NYSE:HRS) last posted its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Harris Corporation had a return on equity of 23.36% and a net margin of 9.02%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. The company’s revenue was down .5% on a year-over-year basis. research analysts forecast that Harris Corporation will post 5.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a $0.57 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a yield of 1.64%. Harris Corporation’s payout ratio is 50.89%.
Harris Corporation Profile
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