Advisor Partners LLC Has $282,000 Position in Harris Corporation (HRS)
Advisor Partners LLC increased its position in shares of Harris Corporation (NYSE:HRS) by 12.5% during the second quarter, Holdings Channel reports. The firm owned 2,582 shares of the communications equipment provider’s stock after buying an additional 287 shares during the period. Advisor Partners LLC’s holdings in Harris Corporation were worth $282,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Trust Co. of Vermont raised its stake in Harris Corporation by 20.6% in the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 157 shares during the period. Ropes Wealth Advisors LLC raised its stake 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. bought a new stake in Harris Corporation during the first quarter worth $179,000. Canandaigua National Bank & Trust Co. bought a new stake in Harris Corporation during the first quarter worth $203,000. Finally, Hyman Charles D bought a new stake in Harris Corporation during the first quarter worth $205,000. 85.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Harris Corporation (NYSE:HRS) opened at 118.37 on Friday. The company has a 50-day moving average price of $114.00 and a 200-day moving average price of $110.51. The stock has a market cap of $14.24 billion, a price-to-earnings ratio of 26.68 and a beta of 1.22. Harris Corporation has a 52 week low of $88.89 and a 52 week high of $119.07.
Harris Corporation (NYSE:HRS) last released its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.49. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS. Equities analysts anticipate that Harris Corporation will post $6.00 EPS for the current year.
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A number of analysts have recently weighed in on the company. BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Jefferies Group LLC increased their price objective on Harris Corporation from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 4th. Cowen and Company reissued a “buy” rating and set a $125.00 price objective on shares of Harris Corporation in a research note on Tuesday, August 1st. Barclays PLC lowered Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price objective for the company. in a research note on Monday, May 1st. Finally, Zacks Investment Research lowered Harris Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Harris Corporation presently has an average rating of “Buy” and an average price target of $113.29.
In other news, insider Christopher D. Young sold 4,070 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $118.93, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Robert L. Duffy sold 33,600 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $112.01, for a total value of $3,763,536.00. Following the transaction, the senior vice president now owns 50,311 shares of the company’s stock, valued at approximately $5,635,335.11. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.
About Harris Corporation
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