WINTON GROUP Ltd Has $18.80 Million Position in Harris Co. (HRS)
WINTON GROUP Ltd reduced its holdings in Harris Co. (NYSE:HRS) by 24.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 130,050 shares of the communications equipment provider’s stock after selling 41,811 shares during the period. Harris makes up about 0.5% of WINTON GROUP Ltd’s investment portfolio, making the stock its 28th biggest position. WINTON GROUP Ltd’s holdings in Harris were worth $18,797,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in HRS. GHP Investment Advisors Inc. increased its stake in Harris by 3.3% in the second quarter. GHP Investment Advisors Inc. now owns 12,141 shares of the communications equipment provider’s stock valued at $1,755,000 after purchasing an additional 388 shares in the last quarter. Andra AP fonden bought a new stake in Harris in the second quarter valued at approximately $8,051,000. Global X Management Co LLC increased its stake in Harris by 42.8% in the second quarter. Global X Management Co LLC now owns 4,598 shares of the communications equipment provider’s stock valued at $665,000 after purchasing an additional 1,378 shares in the last quarter. Verition Fund Management LLC bought a new stake in Harris in the second quarter valued at approximately $360,000. Finally, Advisors Asset Management Inc. increased its stake in Harris by 170.4% in the second quarter. Advisors Asset Management Inc. now owns 137,853 shares of the communications equipment provider’s stock valued at $7,656,000 after purchasing an additional 86,863 shares in the last quarter. Institutional investors and hedge funds own 85.70% of the company’s stock.
Several brokerages have commented on HRS. Argus lowered their target price on shares of Harris from $196.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, July 5th. Credit Suisse Group upped their target price on shares of Harris from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, August 1st. Zacks Investment Research raised shares of Harris from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Seaport Global Securities reaffirmed a “buy” rating and issued a $185.00 target price on shares of Harris in a research note on Thursday, August 2nd. Finally, UBS Group began coverage on shares of Harris in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $175.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $173.60.
Shares of HRS stock opened at $166.74 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. Harris Co. has a 12-month low of $126.97 and a 12-month high of $170.54. The firm has a market cap of $19.33 billion, a PE ratio of 25.65, a P/E/G ratio of 3.52 and a beta of 1.21.
Harris (NYSE:HRS) last issued its quarterly earnings data on Tuesday, July 31st. The communications equipment provider reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.76 by $0.02. Harris had a net margin of 11.61% and a return on equity of 25.36%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. research analysts anticipate that Harris Co. will post 7.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be given a dividend of $0.685 per share. This is an increase from Harris’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, September 6th. This represents a $2.74 annualized dividend and a dividend yield of 1.64%. Harris’s dividend payout ratio is currently 42.15%.
Harris Company Profile
Harris Corporation provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, 2-channel vehicular radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.
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