First National Bank of Mount Dora Trust Investment Services lowered its position in Harris Corporation (NYSE:HRS) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,431 shares of the communications equipment provider’s stock after selling 3,024 shares during the period. Harris comprises approximately 3.2% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 4th biggest position. First National Bank of Mount Dora Trust Investment Services’ holdings in Harris were worth $7,285,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BB&T Investment Services Inc. purchased a new stake in shares of Harris in the 2nd quarter valued at approximately $113,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Harris by 110.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock valued at $131,000 after buying an additional 632 shares during the period. BT Investment Management Ltd purchased a new stake in shares of Harris in the 2nd quarter valued at approximately $157,000. Abner Herrman & Brock LLC purchased a new stake in shares of Harris in the 4th quarter valued at approximately $209,000. Finally, Stephens Inc. AR purchased a new stake in shares of Harris in the 2nd quarter valued at approximately $167,000. Hedge funds and other institutional investors own 84.29% of the company’s stock.
Several analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Harris from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. JPMorgan Chase & Co. increased their price objective on shares of Harris from $138.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Credit Suisse Group reaffirmed an “outperform” rating and set a $155.00 price objective (up previously from $144.00) on shares of Harris in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Jefferies Group increased their price objective on shares of Harris from $135.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $145.43.
Harris (NYSE:HRS) last released its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.03. Harris had a net margin of 9.02% and a return on equity of 23.36%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business earned $1.28 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. equities analysts predict that Harris Corporation will post 5.99 earnings per share for the current year.
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