Harris Corporation (HRS) Position Decreased by Sei Investments Co.
Sei Investments Co. decreased its stake in shares of Harris Corporation (NYSE:HRS) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,979 shares of the communications equipment provider’s stock after selling 7,957 shares during the period. Sei Investments Co.’s holdings in Harris Corporation were worth $11,233,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in HRS. Trust Co. of Vermont increased its stake in shares of Harris Corporation by 20.6% in the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 157 shares in the last quarter. Ropes Wealth Advisors LLC increased its position in Harris Corporation by 198.8% in the first quarter. Ropes Wealth Advisors LLC now owns 1,551 shares of the communications equipment provider’s stock worth $173,000 after buying an additional 1,032 shares during the period. Ullmann Financial Group Inc. purchased a new position in Harris Corporation during the first quarter worth approximately $179,000. Fulton Bank N.A. purchased a new position in Harris Corporation during the first quarter worth approximately $202,000. Finally, Canandaigua National Bank & Trust Co. purchased a new position in Harris Corporation during the first quarter worth approximately $203,000. Institutional investors own 85.13% of the company’s stock.
Shares of Harris Corporation (HRS) opened at 118.55 on Thursday. The stock’s 50 day moving average price is $113.61 and its 200-day moving average price is $110.33. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $118.59. The company has a market cap of $14.26 billion, a PE ratio of 26.72 and a beta of 1.22.
Harris Corporation (NYSE:HRS) last issued 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. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 earnings per share. On average, equities research analysts forecast that Harris Corporation will post $6.00 earnings per share for the current year.
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A number of equities analysts recently commented on the company. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Cowen and Company reiterated a “buy” rating and issued a $125.00 price target on shares of Harris Corporation in a research note on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 price target (up from $125.00) on shares of Harris Corporation in a research note on Friday, July 14th. Zacks Investment Research downgraded Harris Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $113.29.
In other Harris Corporation news, SVP Robert L. Duffy sold 33,600 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $112.01, for a total transaction of $3,763,536.00. Following the sale, the senior vice president now directly owns 50,311 shares of the company’s stock, valued at $5,635,335.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.71% of the stock is currently owned by corporate insiders.
About Harris Corporation
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