Sandy Spring Bank increased its position in Harris Corporation (NYSE:HRS) by 396.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,628 shares of the communications equipment provider’s stock after purchasing an additional 1,300 shares during the period. Sandy Spring Bank’s holdings in Harris were worth $230,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado boosted its stake in Harris by 2.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 24,317 shares of the communications equipment provider’s stock valued at $3,445,000 after acquiring an additional 674 shares during the period. Klingman & Associates LLC acquired a new position in shares of Harris during the fourth quarter worth approximately $2,177,000. Aperio Group LLC boosted its position in shares of Harris by 14.1% during the fourth quarter. Aperio Group LLC now owns 67,600 shares of the communications equipment provider’s stock worth $9,576,000 after buying an additional 8,371 shares during the period. Summit Securities Group LLC acquired a new position in shares of Harris during the fourth quarter worth approximately $397,000. Finally, HL Financial Services LLC acquired a new position in shares of Harris during the fourth quarter worth approximately $205,000. Institutional investors and hedge funds own 83.84% of the company’s stock.
Several equities analysts have recently issued reports on the company. Cowen reiterated a “buy” rating and set a $150.00 price objective on shares of Harris in a research report on Thursday, October 19th. Credit Suisse Group boosted their price objective on Harris from $167.00 to $187.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Jefferies Group boosted their price objective on Harris from $135.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Zacks Investment Research downgraded Harris from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, ValuEngine raised Harris from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $154.57.
Shares of Harris Corporation (HRS) traded up $0.82 during trading hours on Wednesday, reaching $153.84. The company had a trading volume of 288,823 shares, compared to its average volume of 824,926. Harris Corporation has a 1 year low of $106.18 and a 1 year high of $160.67. The company has a market capitalization of $18,340.00, a PE ratio of 29.64, a price-to-earnings-growth ratio of 3.93 and a beta of 1.29. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.68 and a current ratio of 1.22.
Harris (NYSE:HRS) last announced its earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.28. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Harris had a return on equity of 24.49% and a net margin of 8.63%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 earnings per share. equities analysts predict that Harris Corporation will post 6.48 earnings per share for the current fiscal year.
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Harris Company Profile
Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless and technology, among others, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services.
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