Airain ltd Buys 24,462 Shares of Harris Corporation (HRS)
Airain ltd increased its position in Harris Corporation (NYSE:HRS) by 80.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,908 shares of the communications equipment provider’s stock after buying an additional 24,462 shares during the period. Airain ltd’s holdings in Harris Corporation were worth $5,989,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in HRS. Trust Co. of Vermont boosted its position in shares of Harris Corporation by 20.6% in the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 157 shares during the period. Ropes Wealth Advisors LLC boosted its position in shares of Harris Corporation by 198.8% in the first quarter. Ropes Wealth Advisors LLC now owns 1,551 shares of the communications equipment provider’s stock worth $173,000 after buying an additional 1,032 shares during the period. Ullmann Financial Group Inc. bought a new position in shares of Harris Corporation during the first quarter worth approximately $179,000. Harbour Capital Advisors LLC boosted its position in shares of Harris Corporation by 10,808.2% in the second quarter. Harbour Capital Advisors LLC now owns 21,271 shares of the communications equipment provider’s stock worth $195,000 after buying an additional 21,076 shares during the period. Finally, Canandaigua National Bank & Trust Co. bought a new position in shares of Harris Corporation during the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 83.60% of the company’s stock.
Shares of Harris Corporation (NYSE HRS) opened at 119.66 on Friday. The company’s 50 day moving average price is $116.47 and its 200-day moving average price is $111.69. Harris Corporation has a 52 week low of $88.89 and a 52 week high of $121.27. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 26.97 and a beta of 1.22.
Harris Corporation (NYSE:HRS) last announced its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.49. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company earned $1.45 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. Analysts anticipate that Harris Corporation will post $6.00 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.57 per share. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. This represents a $2.28 annualized dividend and a dividend yield of 1.91%. Harris Corporation’s payout ratio is currently 47.86%.
A number of brokerages have recently commented on HRS. Jefferies Group LLC lifted their target price on Harris Corporation from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Cowen and Company reissued a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a research note on Tuesday, August 1st. Zacks Investment Research lowered Harris Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Barclays PLC lowered Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price target for the company. in a research note on Monday, May 1st. Finally, BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Harris Corporation presently has a consensus rating of “Buy” and a consensus target price of $113.29.
In other news, insider Christopher D. Young sold 4,070 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $118.93, for a total transaction of $484,045.10. Following the completion of the sale, the insider now directly owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert L. Duffy sold 33,600 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $112.01, for a total transaction of $3,763,536.00. Following the sale, the senior vice president now directly owns 50,311 shares of the company’s stock, valued at $5,635,335.11. The disclosure for this sale can be found here. Insiders have sold a total of 87,970 shares of company stock valued at $10,195,053 over the last three months. Corporate insiders own 1.71% of the company’s stock.
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