Commerzbank Aktiengesellschaft FI raised its position in shares of Harris Corporation (NYSE:HRS) by 77.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,833 shares of the communications equipment provider’s stock after acquiring an additional 3,850 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Harris Corporation were worth $964,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of HRS. Oppenheimer & Co. Inc. lifted its holdings in shares of Harris Corporation by 9.5% during the second quarter. Oppenheimer & Co. Inc. now owns 38,540 shares of the communications equipment provider’s stock valued at $4,204,000 after purchasing an additional 3,341 shares during the last quarter. Cipher Capital LP purchased a new position in shares of Harris Corporation during the second quarter valued at approximately $2,231,000. Swiss National Bank lifted its holdings in shares of Harris Corporation by 3.3% during the second quarter. Swiss National Bank now owns 454,756 shares of the communications equipment provider’s stock valued at $49,605,000 after purchasing an additional 14,400 shares during the last quarter. Commerce Bank lifted its holdings in shares of Harris Corporation by 22.3% during the second quarter. Commerce Bank now owns 3,612 shares of the communications equipment provider’s stock valued at $394,000 after purchasing an additional 659 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Harris Corporation by 90.1% during the second quarter. Principal Financial Group Inc. now owns 675,756 shares of the communications equipment provider’s stock valued at $73,710,000 after purchasing an additional 320,216 shares during the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.
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Harris Corporation (NYSE HRS) opened at 131.80 on Friday. The company has a market cap of $15.78 billion, a P/E ratio of 29.71 and a beta of 1.19. Harris Corporation has a one year low of $88.89 and a one year high of $131.89. The company has a 50-day moving average of $120.91 and a 200 day moving average of $113.51.
Harris Corporation (NYSE:HRS) last posted its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.49. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 earnings per share. Analysts anticipate that Harris Corporation will post $6.01 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.73%. This is a positive change from Harris Corporation’s previous quarterly dividend of $0.53. Harris Corporation’s dividend payout ratio (DPR) is currently 51.47%.
In other news, SVP Sheldon J. Fox sold 50,300 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the completion of the sale, the senior vice president now owns 73,092 shares of the company’s stock, valued at $8,642,398.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 4,387 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $121.70, for a total transaction of $533,897.90. The disclosure for this sale can be found here. Insiders have sold 72,357 shares of company stock worth $8,643,111 in the last quarter. Insiders own 1.91% of the company’s stock.
A number of equities analysts recently weighed in on HRS shares. ValuEngine upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub lowered shares of Harris Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research lowered shares of Harris Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Cowen and Company reiterated a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a research note on Thursday, July 6th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a research note on Friday, July 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $121.57.
About Harris Corporation
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