Numeric Investors LLC lowered its stake in shares of Harris Corporation (NYSE:HRS) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,600 shares of the communications equipment provider’s stock after selling 1,600 shares during the quarter. Numeric Investors LLC’s holdings in Harris Corporation were worth $2,029,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Brandywine Global Investment Management LLC increased its stake in shares of Harris Corporation by 13.2% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 125,996 shares of the communications equipment provider’s stock valued at $13,744,000 after acquiring an additional 14,686 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in Harris Corporation by 13.9% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 69,035 shares of the communications equipment provider’s stock worth $7,530,000 after purchasing an additional 8,410 shares in the last quarter. Brookmont Capital Management increased its position in Harris Corporation by 145.5% during the 2nd quarter. Brookmont Capital Management now owns 12,510 shares of the communications equipment provider’s stock worth $1,365,000 after purchasing an additional 7,415 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Harris Corporation by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 694,078 shares of the communications equipment provider’s stock worth $75,711,000 after purchasing an additional 103,234 shares in the last quarter. Finally, Ropes Wealth Advisors LLC increased its position in Harris Corporation by 5.4% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock worth $178,000 after purchasing an additional 84 shares in the last quarter. 84.98% of the stock is owned by institutional investors.
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In other Harris Corporation news, SVP Scott T. Mikuen sold 13,600 shares of Harris Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the completion of the transaction, the senior vice president now owns 61,349 shares in the company, valued at approximately $7,568,012.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher D. Young sold 4,070 shares of Harris Corporation stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $118.93, for a total value of $484,045.10. Following the transaction, the insider now owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The disclosure for this sale can be found here. Insiders sold a total of 72,357 shares of company stock valued at $8,643,111 over the last ninety days. 1.91% of the stock is currently owned by corporate insiders.
HRS has been the subject of a number of research analyst reports. Cowen and Company reissued a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a research report on Thursday, July 6th. BidaskClub raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Harris Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a research report on Friday, July 7th. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $145.00 price objective (up previously from $135.00) on shares of Harris Corporation in a research report on Monday, October 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Harris Corporation currently has a consensus rating of “Buy” and an average price target of $131.57.
Shares of Harris Corporation (HRS) opened at 136.625 on Tuesday. Harris Corporation has a 12 month low of $88.89 and a 12 month high of $137.16. The firm has a 50-day moving average price of $128.98 and a 200 day moving average price of $116.44. The firm has a market capitalization of $16.36 billion, a price-to-earnings ratio of 30.799 and a beta of 1.18.
Harris Corporation (NYSE:HRS) last posted its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company posted $1.45 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts anticipate that Harris Corporation will post $6.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.68%. This is a positive change from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 7th. Harris Corporation’s payout ratio is presently 51.47%.
Harris Corporation Profile
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