Harris Corp. (HRS) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. raised its position in Harris Corp. (NYSE:HRS) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,122,934 shares of the company’s stock after buying an additional 349,719 shares during the period. Vanguard Group Inc. owned 9.77% of Harris Corp. worth $1,011,538,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of HRS. Stratos Wealth Partners LTD. raised its stake in Harris Corp. by 13.0% in the first quarter. Stratos Wealth Partners LTD. now owns 4,363 shares of the company’s stock worth $340,000 after buying an additional 502 shares during the last quarter. Ngam Advisors L.P. increased its position in Harris Corp. by 253.4% in the first quarter. Ngam Advisors L.P. now owns 73,841 shares of the company’s stock worth $5,749,000 after buying an additional 52,948 shares during the period. Dubuque Bank & Trust Co. increased its position in Harris Corp. by 58.0% in the first quarter. Dubuque Bank & Trust Co. now owns 14,886 shares of the company’s stock worth $1,159,000 after buying an additional 5,463 shares during the period. Pacad Investment Ltd. purchased a new position in Harris Corp. during the first quarter worth about $483,000. Finally, Brick & Kyle Associates increased its position in Harris Corp. by 1,570.9% in the first quarter. Brick & Kyle Associates now owns 2,757 shares of the company’s stock worth $215,000 after buying an additional 2,592 shares during the period. 88.92% of the stock is owned by institutional investors and hedge funds.
Harris Corp. (NYSE:HRS) traded up 0.60% during midday trading on Thursday, reaching $90.44. The company’s stock had a trading volume of 40,611 shares. The stock has a market cap of $11.23 billion, a price-to-earnings ratio of 35.03 and a beta of 1.30. Harris Corp. has a one year low of $70.10 and a one year high of $94.09. The stock’s 50 day moving average price is $90.77 and its 200-day moving average price is $82.90.
Harris Corp. (NYSE:HRS) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.44 by $0.01. Harris Corp. had a net margin of 4.34% and a return on equity of 21.77%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company earned $1.32 earnings per share. The firm’s revenue was up 24.0% on a year-over-year basis. On average, analysts forecast that Harris Corp. will post $5.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Friday, September 9th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.36%. This is a positive change from Harris Corp.’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, September 7th. Harris Corp.’s dividend payout ratio is presently 82.49%.
A number of equities analysts have recently issued reports on HRS shares. Citigroup Inc. started coverage on Harris Corp. in a research note on Friday, June 10th. They issued a “buy” rating and a $95.00 price target on the stock. Jefferies Group restated a “buy” rating on shares of Harris Corp. in a research note on Friday, June 10th. Drexel Hamilton restated a “buy” rating on shares of Harris Corp. in a research note on Friday, June 17th. Zacks Investment Research downgraded Harris Corp. from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Finally, JPMorgan Chase & Co. set a $93.00 price target on Harris Corp. and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Harris Corp. currently has an average rating of “Buy” and a consensus price target of $98.29.
In other news, SVP Scott T. Mikuen sold 9,400 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $88.00, for a total transaction of $827,200.00. Following the sale, the senior vice president now directly owns 49,277 shares of the company’s stock, valued at approximately $4,336,376. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William H. Gattle sold 1,366 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $93.75, for a total transaction of $128,062.50. Following the sale, the insider now directly owns 4,851 shares in the company, valued at $454,781.25. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by company insiders.
Harris Corp. Company Profile
Harris Corporation (Harris) together with its subsidiaries is engaged in providing technology-based solutions to government and commercial customers. As of July 3, 2015, the Company operated through four business segments: RF Communications, Government Communications Systems, Integrated Network Solutions and Exelis.
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