Guggenheim Capital LLC reduced its position in shares of Harris Co. (NYSE:HRS) by 36.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 409,541 shares of the communications equipment provider’s stock after selling 234,070 shares during the period. Guggenheim Capital LLC owned about 0.34% of Harris worth $58,010,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in shares of Harris by 980.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,243 shares of the communications equipment provider’s stock worth $176,000 after buying an additional 1,128 shares during the period. Calton & Associates Inc. acquired a new position in shares of Harris during the fourth quarter worth about $180,000. First National Bank & Trust Co. of Newtown acquired a new position in shares of Harris during the fourth quarter worth about $200,000. Koshinski Asset Management Inc. acquired a new position in shares of Harris during the fourth quarter worth about $203,000. Finally, HL Financial Services LLC acquired a new position in shares of Harris during the fourth quarter worth about $205,000. 84.95% of the stock is owned by institutional investors.
HRS opened at $161.04 on Friday. Harris Co. has a 52-week low of $106.18 and a 52-week high of $164.69. The stock has a market cap of $19,268.66, a P/E ratio of 29.12, a P/E/G ratio of 4.18 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 released its earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.28. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.48 billion. Harris had a return on equity of 24.49% and a net margin of 8.63%. Harris’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 earnings per share. equities research analysts predict that Harris Co. will post 6.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Thursday, March 8th were paid a $0.57 dividend. The ex-dividend date of this dividend was Wednesday, March 7th. This represents a $2.28 annualized dividend and a yield of 1.42%. Harris’s dividend payout ratio is 41.23%.
HRS has been the subject of several recent research reports. Argus initiated coverage on Harris in a research report on Wednesday. They set a “buy” rating and a $196.00 price objective for the company. Cowen reaffirmed a “buy” rating and set a $170.00 price objective on shares of Harris in a research report on Tuesday, January 30th. Zacks Investment Research upgraded Harris from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a report on Thursday, January 18th. ValuEngine upgraded Harris from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Barclays began coverage on Harris in a report on Thursday, March 29th. They set an “equal weight” rating and a $173.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $167.63.
In other Harris news, SVP Sheldon J. Fox sold 8,682 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 53,724 shares in the company, valued at $8,380,944. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Dana A. Mehnert sold 51,200 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $153.19, for a total value of $7,843,328.00. The disclosure for this sale can be found here. Insiders sold 79,882 shares of company stock worth $12,221,320 in the last 90 days. Corporate insiders own 1.91% of the company’s stock.
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Harris Corporation provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, 2-channel vehicular radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.
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