Cutler Group LP bought a new stake in Harris Co. (NYSE:HRS) in the third quarter, HoldingsChannel.com reports. The fund bought 2,700 shares of the communications equipment provider’s stock, valued at approximately $456,000.

Several other hedge funds also recently bought and sold shares of the company. CWM LLC grew its stake in Harris by 40.5% during the 2nd quarter. CWM LLC now owns 1,183 shares of the communications equipment provider’s stock valued at $171,000 after purchasing an additional 341 shares in the last quarter. Bridgeworth LLC grew its stake in Harris by 28.0% during the 2nd quarter. Bridgeworth LLC now owns 1,600 shares of the communications equipment provider’s stock valued at $230,000 after purchasing an additional 350 shares in the last quarter. Sterling Capital Management LLC grew its stake in Harris by 0.4% during the 3rd quarter. Sterling Capital Management LLC now owns 82,375 shares of the communications equipment provider’s stock valued at $13,939,000 after purchasing an additional 353 shares in the last quarter. Sigma Planning Corp grew its stake in Harris by 22.9% during the 2nd quarter. Sigma Planning Corp now owns 1,907 shares of the communications equipment provider’s stock valued at $276,000 after purchasing an additional 355 shares in the last quarter. Finally, Ascension Asset Management LLC grew its stake in Harris by 3.0% during the 2nd quarter. Ascension Asset Management LLC now owns 13,075 shares of the communications equipment provider’s stock valued at $1,890,000 after purchasing an additional 375 shares in the last quarter. Institutional investors and hedge funds own 85.33% of the company’s stock.

NYSE:HRS opened at $148.70 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.96 and a current ratio of 1.17. Harris Co. has a 52 week low of $137.25 and a 52 week high of $175.50. The company has a market cap of $18.02 billion, a price-to-earnings ratio of 22.19 and a beta of 1.29.

Harris (NYSE:HRS) last released its earnings results on Sunday, October 14th. The communications equipment provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Harris had a return on equity of 26.39% and a net margin of 12.20%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business posted $1.38 EPS. Harris’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts forecast that Harris Co. will post 7.86 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be issued a dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, November 21st. Harris’s dividend payout ratio is presently 42.15%.

In other Harris news, insider Edward J. Zoiss sold 26,311 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $162.80, for a total transaction of $4,283,430.80. Following the transaction, the insider now owns 1,286 shares of the company’s stock, valued at approximately $209,360.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Sheldon J. Fox sold 45,800 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $163.13, for a total value of $7,471,354.00. Following the transaction, the senior vice president now directly owns 95,448 shares in the company, valued at approximately $15,570,432.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,712 shares of company stock worth $15,407,341. 2.51% of the stock is currently owned by company insiders.

A number of equities research analysts have weighed in on the company. Credit Suisse Group raised their price objective on 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 upgraded Harris from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Argus raised their price objective on Harris to $190.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Seaport Global Securities restated a “buy” rating and set a $185.00 price objective on shares of Harris in a research note on Thursday, August 2nd. Finally, UBS Group assumed coverage on Harris in a research note on Wednesday, August 15th. They set a “neutral” rating and a $175.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Harris has an average rating of “Buy” and a consensus target price of $182.22.

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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, 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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Want to see what other hedge funds are holding HRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harris Co. (NYSE:HRS).

Institutional Ownership by Quarter for Harris (NYSE:HRS)

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