Coastline Trust Co Cuts Holdings in Harris Corporation (HRS)
Coastline Trust Co trimmed its position in shares of Harris Corporation (NYSE:HRS) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,030 shares of the communications equipment provider’s stock after selling 360 shares during the quarter. Coastline Trust Co’s holdings in Harris were worth $713,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Prudential PLC boosted its position in Harris by 25.5% during the 2nd quarter. Prudential PLC now owns 81,028 shares of the communications equipment provider’s stock valued at $8,839,000 after acquiring an additional 16,476 shares in the last quarter. KBC Group NV boosted its position in Harris by 39.3% during the 3rd quarter. KBC Group NV now owns 18,473 shares of the communications equipment provider’s stock valued at $2,433,000 after acquiring an additional 5,216 shares in the last quarter. Amalgamated Bank boosted its position in Harris by 58.9% during the 2nd quarter. Amalgamated Bank now owns 13,916 shares of the communications equipment provider’s stock valued at $1,518,000 after acquiring an additional 5,159 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Harris by 10.2% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,416 shares of the communications equipment provider’s stock valued at $6,375,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Harris during the 3rd quarter valued at approximately $540,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on HRS. Cowen reaffirmed a “buy” rating and set a $150.00 price objective on shares of Harris in a research report on Thursday, October 19th. ValuEngine cut Harris from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research raised Harris from a “hold” rating to a “buy” rating and set a $153.00 price objective on the stock in a research report on Monday, October 16th. Seaport Global Securities reaffirmed a “buy” rating and set a $145.00 price objective (up from $135.00) on shares of Harris in a research report on Monday, October 9th. Finally, Jefferies Group lifted their price objective on Harris from $135.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $145.43.
Harris (NYSE:HRS) last released its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.03. Harris had a net margin of 9.02% and a return on equity of 23.36%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the business earned $1.28 earnings per share. The business’s revenue was down .5% on a year-over-year basis. sell-side analysts predict that Harris Corporation will post 5.99 EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Coastline Trust Co Cuts Holdings in Harris Corporation (HRS)” was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.dailypolitical.com/2018/01/18/coastline-trust-co-cuts-holdings-in-harris-corporation-hrs.html.
Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless and technology, among others, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services.
Want to see what other hedge funds are holding HRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harris Corporation (NYSE:HRS).
Receive News & Ratings for Harris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris and related companies with MarketBeat.com's FREE daily email newsletter.