Bp Plc Has $1,745,000 Stake in Harris Corporation (NYSE:HRS)
Bp Plc held its position in Harris Corporation (NYSE:HRS) during the second quarter, Holdings Channel reports. The institutional investor owned 16,000 shares of the communications equipment provider’s stock at the end of the second quarter. Bp Plc’s holdings in Harris Corporation were worth $1,745,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont increased its position 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 valued at $100,000 after buying an additional 157 shares during 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 valued at $173,000 after buying an additional 1,032 shares during the last quarter. Ullmann Financial Group Inc. bought a new position in Harris Corporation during the first quarter valued at $179,000. Canandaigua National Bank & Trust Co. bought a new position in Harris Corporation during the first quarter valued at $203,000. Finally, Hyman Charles D bought a new position in Harris Corporation during the first quarter valued at $205,000. 85.13% of the stock is owned by institutional investors.
Shares of Harris Corporation (NYSE HRS) opened at 118.37 on Friday. The stock has a market cap of $14.24 billion, a P/E ratio of 26.68 and a beta of 1.22. Harris Corporation has a 12 month low of $88.89 and a 12 month high of $119.07. The stock has a 50 day moving average price of $114.00 and a 200-day moving average price of $110.51.
Harris Corporation (NYSE:HRS) last announced its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.49. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the business earned $1.45 EPS. The company’s revenue was up .6% on a year-over-year basis. On average, analysts forecast that Harris Corporation will post $6.00 EPS for the current fiscal year.
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A number of equities research analysts have recently commented on HRS shares. BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Jefferies Group LLC lifted their price objective on Harris Corporation from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 4th. Cowen and Company reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a research report on Tuesday, August 1st. Barclays PLC downgraded Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price objective for the company. in a research report on Monday, May 1st. Finally, Zacks Investment Research downgraded Harris Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $113.29.
In other news, SVP Robert L. Duffy sold 33,600 shares of the company’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 directly owns 50,311 shares of the company’s stock, valued at $5,635,335.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 46,131 shares in the company, valued at $5,486,359.83. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.
Harris Corporation Company Profile
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