Harris Co. (HRS) Holdings Reduced by KBC Group NV

KBC Group NV reduced its position in Harris Co. (NYSE:HRS) by 38.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,395 shares of the communications equipment provider’s stock after selling 7,078 shares during the period. KBC Group NV’s holdings in Harris were worth $1,614,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in HRS. Calton & Associates Inc. purchased a new stake in Harris in the 4th quarter worth approximately $180,000. First National Bank & Trust Co. of Newtown purchased a new stake in Harris in the 4th quarter worth approximately $200,000. Koshinski Asset Management Inc. purchased a new stake in Harris in the 4th quarter worth approximately $203,000. HL Financial Services LLC purchased a new stake in Harris in the 4th quarter worth approximately $205,000. Finally, Waters Parkerson & CO. LLC purchased a new stake in Harris in the 3rd quarter worth approximately $208,000. 84.10% of the stock is owned by hedge funds and other institutional investors.

Shares of Harris Co. (NYSE:HRS) opened at $157.99 on Friday. Harris Co. has a 12 month low of $106.18 and a 12 month high of $161.04. The stock has a market cap of $18,779.49, a price-to-earnings ratio of 26.72, a PEG ratio of 4.07 and a beta of 1.29. The company has a current ratio of 1.22, a quick ratio of 0.68 and a debt-to-equity ratio of 1.13.

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, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.28. Harris had a net margin of 8.63% and a return on equity of 24.49%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $1.38 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. sell-side analysts predict that Harris Co. will post 6.48 earnings per share for the current fiscal year.

Several analysts have commented on the stock. Credit Suisse Group lifted their target price on shares of Harris from $167.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Cowen reissued a “buy” rating and set a $170.00 price objective on shares of Harris in a research note on Tuesday, January 30th. Jefferies Group boosted their price objective on shares of Harris from $135.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Zacks Investment Research cut shares of Harris from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $154.57.

In other news, SVP Sheldon J. Fox sold 8,682 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $156.00, for a total transaction of $1,354,392.00. Following the completion of the sale, the senior vice president now directly owns 53,724 shares of the company’s stock, valued at approximately $8,380,944. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.91% of the stock is owned by insiders.

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Harris Profile

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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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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