LSV Asset Management cut its position in shares of Harris Corp. (NYSE:HRS) by 16.6% during the third quarter, Holdings Channel reports. The fund owned 1,317,788 shares of the company’s stock after selling 263,089 shares during the period. LSV Asset Management’s holdings in Harris Corp. were worth $120,722,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Harris Corp. by 3.0% in the second quarter. Vanguard Group Inc. now owns 12,122,934 shares of the company’s stock worth $1,011,538,000 after buying an additional 349,719 shares during the last quarter. Boston Partners raised its stake in Harris Corp. by 3.7% in the second quarter. Boston Partners now owns 7,408,933 shares of the company’s stock worth $618,202,000 after buying an additional 266,477 shares during the last quarter. Wells Fargo & Company MN raised its stake in Harris Corp. by 1.9% in the third quarter. Wells Fargo & Company MN now owns 7,096,111 shares of the company’s stock worth $650,075,000 after buying an additional 129,556 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Harris Corp. by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,212,061 shares of the company’s stock worth $268,014,000 after buying an additional 25,524 shares during the last quarter. Finally, Waddell & Reed Financial Inc. raised its stake in Harris Corp. by 9.3% in the second quarter. Waddell & Reed Financial Inc. now owns 2,196,604 shares of the company’s stock worth $183,285,000 after buying an additional 187,813 shares during the last quarter. 84.03% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Harris Corp. (NYSE:HRS)

Shares of Harris Corp. (NYSE:HRS) opened at 104.01 on Tuesday. The stock’s 50 day moving average price is $96.15 and its 200-day moving average price is $88.71. The firm has a market capitalization of $12.93 billion, a P/E ratio of 38.87 and a beta of 1.29. Harris Corp. has a 12-month low of $70.97 and a 12-month high of $105.93.

Harris Corp. (NYSE:HRS) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.05. Harris Corp. had a net margin of 4.53% and a return on equity of 22.84%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business earned $1.31 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities analysts expect that Harris Corp. will post $5.80 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Friday, November 18th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Wednesday, November 16th. Harris Corp.’s payout ratio is 79.70%.

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Several research analysts have weighed in on HRS shares. Cowen and Company upgraded Harris Corp. from a “market perform” rating to an “outperform” rating and set a $107.00 price target for the company in a report on Monday, November 7th. Jefferies Group reiterated a “buy” rating and issued a $100.00 price target (up from $95.00) on shares of Harris Corp. in a report on Wednesday, August 3rd. Citigroup Inc. cut their price target on Harris Corp. from $112.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, September 6th. Zacks Investment Research downgraded Harris Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Finally, Vertical Research started coverage on Harris Corp. in a report on Friday, October 28th. They issued a “buy” rating and a $100.00 price target for the company. Eleven investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $101.89.

In related news, insider William H. Gattle sold 1,366 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $93.75, for a total transaction of $128,062.50. Following the completion of the sale, the insider now directly owns 4,851 shares in the company, valued at $454,781.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 1,884 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $92.99, for a total transaction of $175,193.16. Following the sale, the insider now owns 1,702 shares of the company’s stock, valued at $158,268.98. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

About Harris Corp.

5 Day Chart for NYSE:HRS

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