Private Advisor Group LLC acquired a new stake in shares of Harris Corporation (NYSE:HRS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,966 shares of the communications equipment provider’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Trexquant Investment LP lifted its holdings in shares of Harris by 41.7% in the 2nd quarter. Trexquant Investment LP now owns 3,400 shares of the communications equipment provider’s stock valued at $371,000 after acquiring an additional 1,000 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Harris by 220.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,820 shares of the communications equipment provider’s stock valued at $308,000 after acquiring an additional 1,941 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Harris by 169.3% in the 2nd quarter. First Trust Advisors LP now owns 180,717 shares of the communications equipment provider’s stock valued at $19,713,000 after acquiring an additional 113,621 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Harris by 33.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 17,570 shares of the communications equipment provider’s stock valued at $1,988,000 after acquiring an additional 4,416 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in shares of Harris by 41.8% in the 2nd quarter. Wedbush Securities Inc. now owns 3,272 shares of the communications equipment provider’s stock valued at $357,000 after acquiring an additional 964 shares during the last quarter. 84.41% of the stock is owned by institutional investors and hedge funds.

Shares of Harris Corporation (NYSE:HRS) traded up $0.52 during trading hours on Thursday, hitting $141.94. 657,500 shares of the stock were exchanged, compared to its average volume of 743,441. The stock has a market capitalization of $16,857.35, a price-to-earnings ratio of 24.94, a PEG ratio of 3.37 and a beta of 1.12. Harris Corporation has a fifty-two week low of $99.13 and a fifty-two week high of $144.94. The company has a current ratio of 1.11, a quick ratio of 0.64 and a debt-to-equity ratio of 1.14.

Harris (NYSE:HRS) last issued its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. Harris had a net margin of 9.02% and a return on equity of 23.36%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. sell-side analysts expect that Harris Corporation will post 5.99 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, November 16th. Harris’s dividend payout ratio (DPR) is presently 50.89%.

HRS has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Harris from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Credit Suisse Group initiated coverage on shares of Harris in a research report on Monday, August 28th. They issued an “outperform” rating and a $144.00 price objective on the stock. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Cowen reissued a “buy” rating and issued a $134.00 price objective (up from $125.00) on shares of Harris in a research report on Tuesday, September 12th. Finally, Jefferies Group reissued a “buy” rating and issued a $135.00 price objective on shares of Harris in a research report on Thursday, September 21st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $145.43.

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Harris Company Profile

Institutional Ownership by Quarter for Harris (NYSE:HRS)

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