Northwestern Mutual Investment Management Company LLC Decreases Holdings in Harris Corporation (HRS)
Northwestern Mutual Investment Management Company LLC lowered its stake in shares of Harris Corporation (NYSE:HRS) by 81.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,757 shares of the communications equipment provider’s stock after selling 20,403 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Harris Corporation were worth $397,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Trust Co. of Vermont boosted its stake in shares of Harris Corporation by 20.6% during the 2nd 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. Ullmann Financial Group Inc. acquired a new stake in shares of Harris Corporation during the 1st quarter valued at $179,000. Hyman Charles D acquired a new stake in shares of Harris Corporation during the 1st quarter valued at $205,000. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Harris Corporation during the 1st quarter valued at $212,000. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in shares of Harris Corporation during the 1st quarter valued at $212,000. 83.33% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on HRS shares. Zacks Investment Research lowered shares of Harris Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Credit Suisse Group started coverage on shares of Harris Corporation in a research note on Monday, August 28th. They set an “outperform” rating and a $144.00 target price for the company. Jefferies Group LLC reissued a “buy” rating and set a $135.00 target price (up previously from $125.00) on shares of Harris Corporation in a research note on Friday, July 14th. Cowen and Company reissued a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a research note on Thursday, July 6th. Finally, ValuEngine raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $121.57.
Shares of Harris Corporation (NYSE:HRS) opened at 126.87 on Friday. The firm has a market cap of $15.19 billion, a price-to-earnings ratio of 28.60 and a beta of 1.19. The company has a 50 day moving average of $120.03 and a 200 day moving average of $113.18. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $126.98.
Harris Corporation (NYSE:HRS) last announced its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.49. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Harris Corporation will post $6.01 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a dividend of $0.57 per share. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 1.80%. Harris Corporation’s dividend payout ratio is presently 51.47%.
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In related news, insider Christopher D. Young sold 4,070 shares of the stock in a transaction on Thursday, August 10th. The shares were 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 owns 46,131 shares in the company, valued at $5,486,359.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sheldon J. Fox sold 50,300 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the transaction, the senior vice president now owns 73,092 shares of the company’s stock, valued at approximately $8,642,398.08. The disclosure for this sale can be found here. Insiders have sold 72,357 shares of company stock valued at $8,643,111 in the last 90 days. 1.71% of the stock is currently owned by corporate insiders.
Harris Corporation Company Profile
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