Harris Co. (HRS) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd lowered its position in shares of Harris Co. (NYSE:HRS) by 8.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,568 shares of the communications equipment provider’s stock after selling 10,482 shares during the quarter. WINTON GROUP Ltd owned approximately 0.10% of Harris worth $20,232,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HRS. Fort L.P. acquired a new stake in shares of Harris in the second quarter valued at approximately $118,000. Accurate Investment Solutions Inc. acquired a new stake in shares of Harris in the second quarter valued at approximately $123,000. Patton Albertson Miller Group LLC acquired a new stake in shares of Harris in the third quarter valued at approximately $138,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Harris in the third quarter valued at approximately $146,000. Finally, Daiwa SB Investments Ltd. acquired a new stake in shares of Harris in the second quarter valued at approximately $136,000. 85.42% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on HRS. Credit Suisse Group increased their price target on Harris from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, August 1st. Zacks Investment Research raised Harris from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Argus increased their price target on Harris to $190.00 and gave the company a “buy” rating in a report on Thursday, August 16th. Seaport Global Securities reaffirmed a “buy” rating and issued a $185.00 price target on shares of Harris in a report on Thursday, August 2nd. Finally, Raymond James increased their price target on Harris from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, October 16th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $182.22.

In related news, SVP Sheldon J. Fox sold 45,800 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $163.13, for a total value of $7,471,354.00. Following the completion of the transaction, the senior vice president now directly owns 95,448 shares in the company, valued at $15,570,432.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 26,311 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $162.80, for a total value of $4,283,430.80. Following the completion of the transaction, the insider now owns 1,286 shares of the company’s stock, valued at $209,360.80. The disclosure for this sale can be found here. Insiders sold 94,712 shares of company stock valued at $15,407,341 over the last quarter. 2.51% of the stock is currently owned by company insiders.

NYSE:HRS opened at $149.23 on Wednesday. Harris Co. has a one year low of $136.77 and a one year high of $175.50. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $17.30 billion, a P/E ratio of 22.96 and a beta of 1.29.

Harris (NYSE:HRS) last issued its quarterly earnings data on Sunday, October 14th. The communications equipment provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. Harris had a return on equity of 26.39% and a net margin of 12.20%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 earnings per share. As a group, equities research analysts anticipate that Harris Co. will post 7.86 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be given a $0.685 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $2.74 annualized dividend and a yield of 1.84%. Harris’s payout ratio is 42.15%.

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Harris Company Profile

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, 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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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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