Cozad Asset Management Inc. Invests $636,000 in Harris Co. (HRS) Stock

Share on StockTwits

Cozad Asset Management Inc. bought a new stake in Harris Co. (NYSE:HRS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,400 shares of the communications equipment provider’s stock, valued at approximately $636,000.

A number of other hedge funds have also recently bought and sold shares of HRS. BlackRock Inc. raised its stake in shares of Harris by 14.2% in the first quarter. BlackRock Inc. now owns 9,822,783 shares of the communications equipment provider’s stock worth $1,584,219,000 after buying an additional 1,222,155 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Harris by 86.0% in the first quarter. JPMorgan Chase & Co. now owns 852,437 shares of the communications equipment provider’s stock worth $137,480,000 after buying an additional 394,079 shares during the period. Janus Henderson Group PLC raised its stake in shares of Harris by 14.1% in the second quarter. Janus Henderson Group PLC now owns 3,050,490 shares of the communications equipment provider’s stock worth $440,918,000 after buying an additional 377,269 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Harris by 28.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,165,914 shares of the communications equipment provider’s stock worth $168,521,000 after buying an additional 256,780 shares during the period. Finally, Carillon Tower Advisers Inc. raised its stake in shares of Harris by 146.6% in the first quarter. Carillon Tower Advisers Inc. now owns 366,854 shares of the communications equipment provider’s stock worth $58,842,000 after buying an additional 218,102 shares during the period. 85.73% of the stock is currently owned by institutional investors.

Several research firms have recently commented on HRS. Argus decreased their price objective on Harris from $196.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, July 5th. Credit Suisse Group raised their price objective on Harris from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 1st. Zacks Investment Research raised Harris from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Seaport Global Securities reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Harris in a research note on Thursday, August 2nd. Finally, UBS Group began coverage on Harris in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $175.00 price objective on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $173.60.

NYSE:HRS opened at $164.72 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 0.73. Harris Co. has a 12-month low of $124.75 and a 12-month high of $170.54. The stock has a market cap of $18.97 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 3.46 and a beta of 1.21.

Harris (NYSE:HRS) last released its earnings results on Tuesday, July 31st. The communications equipment provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.02. Harris had a return on equity of 25.36% and a net margin of 11.61%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the business posted $1.49 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. research analysts anticipate that Harris Co. will post 7.79 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Friday, September 7th will be given a dividend of $0.685 per share. The ex-dividend date is Thursday, September 6th. This represents a $2.74 annualized dividend and a dividend yield of 1.66%. This is a boost from Harris’s previous quarterly dividend of $0.57. Harris’s dividend payout ratio (DPR) is currently 42.15%.

In related news, insider Edward J. Zoiss sold 26,311 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $162.80, for a total transaction of $4,283,430.80. Following the completion of the sale, the insider now owns 1,286 shares in the company, valued at $209,360.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 3,903 shares of the stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $160.75, for a total value of $627,407.25. Following the sale, the senior vice president now owns 47,243 shares of the company’s stock, valued at approximately $7,594,312.25. The disclosure for this sale can be found here. Insiders have sold 94,712 shares of company stock valued at $15,407,341 in the last quarter. 2.51% of the stock is currently owned by company insiders.

About Harris

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.

Recommended Story: Penny Stocks

Want to see what other hedge funds are holding HRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harris Co. (NYSE:HRS).

Institutional Ownership by Quarter for Harris (NYSE:HRS)

Receive News & Ratings for Harris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.