Nomura Asset Management Co. Ltd. grew its holdings in shares of Harris Co. (NYSE:HRS) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,310 shares of the communications equipment provider’s stock after buying an additional 641 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Harris were worth $2,452,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its stake in shares of Harris by 0.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 43,853 shares of the communications equipment provider’s stock valued at $6,211,000 after buying an additional 343 shares during the last quarter. TIAA FSB boosted its stake in shares of Harris by 1.1% during the 4th quarter. TIAA FSB now owns 31,987 shares of the communications equipment provider’s stock valued at $4,530,000 after buying an additional 348 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Harris by 2.3% during the 3rd quarter. CIBC Asset Management Inc now owns 17,202 shares of the communications equipment provider’s stock valued at $2,265,000 after buying an additional 387 shares during the last quarter. MML Investors Services LLC boosted its stake in shares of Harris by 15.7% during the 4th quarter. MML Investors Services LLC now owns 2,985 shares of the communications equipment provider’s stock valued at $423,000 after buying an additional 406 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Harris by 13.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,476 shares of the communications equipment provider’s stock valued at $492,000 after buying an additional 413 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.
Harris Co. (NYSE HRS) opened at $158.18 on Friday. Harris Co. has a one year low of $106.18 and a one year high of $161.04. The stock has a market capitalization of $18,709.44, a price-to-earnings ratio of 26.62, a P/E/G ratio of 4.06 and a beta of 1.27. 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 quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.28. Harris had a return on equity of 24.49% and a net margin of 8.63%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business posted $1.38 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. analysts predict that Harris Co. will post 6.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Thursday, March 8th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.44%. The ex-dividend date is Wednesday, March 7th. Harris’s dividend payout ratio (DPR) is presently 53.90%.
Several equities analysts have recently commented on HRS shares. ValuEngine upgraded Harris from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research cut Harris from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Cowen reiterated a “buy” rating and set a $157.00 target price on shares of Harris in a research note on Monday, January 22nd. Finally, Credit Suisse Group raised their price objective on Harris from $167.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $154.57.
In related news, SVP Dana A. Mehnert sold 51,200 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $153.19, for a total transaction of $7,843,328.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Sheldon J. Fox sold 8,682 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $156.00, for a total value of $1,354,392.00. Following the transaction, the senior vice president now owns 53,724 shares in the company, valued at $8,380,944. The disclosure for this sale can be found here. Insiders have sold 79,882 shares of company stock worth $12,221,320 over the last 90 days. 1.91% of the stock is currently owned by company insiders.
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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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