Harris Corporation (HRS) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. reduced its stake in shares of Harris Corporation (NYSE:HRS) by 49.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,982 shares of the communications equipment provider’s stock after selling 108,995 shares during the period. Russell Investments Group Ltd.’s holdings in Harris Corporation were worth $12,214,000 as of its most recent SEC filing.
A number of other hedge funds have also 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 valued at $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 valued at $173,000 after buying an additional 1,032 shares during the period. Ullmann Financial Group Inc. acquired a new stake in Harris Corporation during the first quarter valued at $179,000. Canandaigua National Bank & Trust Co. acquired a new stake in Harris Corporation during the first quarter valued at $203,000. Finally, Hyman Charles D acquired a new stake in Harris Corporation during the first quarter valued at $205,000. 85.13% of the stock is currently owned by institutional investors and hedge funds.
Harris Corporation (NYSE HRS) traded up 0.12% during trading on Friday, reaching $118.37. The company’s stock had a trading volume of 531,966 shares. The stock has a 50-day moving average price of $114.00 and a 200 day moving average price of $110.51. Harris Corporation has a 52-week low of $88.89 and a 52-week high of $119.07. The company has a market cap of $14.24 billion, a PE ratio of 26.68 and a beta of 1.22.
Harris Corporation (NYSE:HRS) last posted its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the business earned $1.45 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts expect that Harris Corporation will post $6.00 EPS for the current year.
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Several analysts recently weighed in on HRS shares. BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Cowen and Company reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a research note on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $135.00 price objective (up from $125.00) on shares of Harris Corporation in a research note on Friday, July 14th. ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Barclays PLC lowered Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price objective on the stock. in a research note on Monday, May 1st. One 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 currently has a consensus rating of “Buy” and an average price target of $113.29.
In other news, SVP Robert L. Duffy sold 33,600 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $112.01, for a total value of $3,763,536.00. Following the completion of the transaction, the senior vice president now directly owns 50,311 shares in the company, valued at approximately $5,635,335.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $118.93, for a total value of $484,045.10. Following the completion of the transaction, the insider now owns 46,131 shares of the company’s stock, valued at $5,486,359.83. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by corporate insiders.
About Harris Corporation
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