Zeke Capital Advisors LLC Purchases New Stake in Harris Corporation (HRS)
Zeke Capital Advisors LLC purchased a new position in shares of Harris Corporation (NYSE:HRS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,937 shares of the communications equipment provider’s stock, valued at approximately $255,000.
A number of other large investors have also added to or reduced their stakes in the stock. EP Wealth Advisors LLC increased its position in Harris by 1.0% during the second quarter. EP Wealth Advisors LLC now owns 1,875 shares of the communications equipment provider’s stock worth $205,000 after acquiring an additional 19 shares during the period. Blue Chip Partners Inc. increased its position in Harris by 1.0% during the second quarter. Blue Chip Partners Inc. now owns 2,729 shares of the communications equipment provider’s stock worth $298,000 after acquiring an additional 26 shares during the period. Thrivent Financial For Lutherans increased its position in Harris by 0.6% during the second quarter. Thrivent Financial For Lutherans now owns 4,685 shares of the communications equipment provider’s stock worth $511,000 after acquiring an additional 30 shares during the period. Comerica Securities Inc. increased its position in Harris by 3.5% during the second quarter. Comerica Securities Inc. now owns 2,068 shares of the communications equipment provider’s stock worth $226,000 after acquiring an additional 70 shares during the period. Finally, Ropes Wealth Advisors LLC increased its position in Harris by 5.4% during the second quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock worth $178,000 after acquiring an additional 84 shares during the period. 84.41% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Scott T. Mikuen sold 13,600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total value of $1,677,696.00. Following the sale, the senior vice president now directly owns 61,349 shares in the company, valued at approximately $7,568,012.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 4,387 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $121.70, for a total transaction of $533,897.90. The disclosure for this sale can be found here. Corporate insiders own 1.91% of the company’s stock.
Shares of Harris Corporation (HRS) traded down $1.64 during trading on Monday, reaching $142.86. 784,800 shares of the company’s stock were exchanged, compared to its average volume of 750,076. The firm has a market capitalization of $17,029.00, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 3.40 and a beta of 1.12. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.11 and a quick ratio of 0.64. Harris Corporation has a 12-month low of $99.13 and a 12-month high of $144.94.
Harris (NYSE:HRS) last announced its quarterly earnings data on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.44 billion. Harris had a net margin of 9.02% and a return on equity of 23.36%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share. research analysts forecast that Harris Corporation will post 5.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a yield of 1.60%. Harris’s payout ratio is 50.89%.
A number of research firms recently commented on HRS. Cowen reaffirmed a “buy” rating and set a $150.00 price target on shares of Harris in a research report on Tuesday, October 31st. Zacks Investment Research upgraded shares of Harris from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. ValuEngine downgraded shares of Harris from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. J P Morgan Chase & Co increased their price objective on shares of Harris from $138.00 to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Finally, Jefferies Group reiterated a “buy” rating and set a $135.00 price objective on shares of Harris in a research note on Thursday, September 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $145.43.
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