Dividend Assets Capital LLC Trims Stake in Harris Corporation (HRS)
Dividend Assets Capital LLC reduced its holdings in shares of Harris Corporation (NYSE:HRS) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 485,201 shares of the communications equipment provider’s stock after selling 3,562 shares during the quarter. Harris Corporation accounts for about 2.6% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 7th largest holding. Dividend Assets Capital LLC owned about 0.41% of Harris Corporation worth $63,891,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Prudential PLC boosted its stake in shares of Harris Corporation 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 buying an additional 16,476 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Harris Corporation during the 2nd quarter valued at approximately $2,342,000. Bank of Montreal Can boosted its stake in shares of Harris Corporation by 39.2% during the 2nd quarter. Bank of Montreal Can now owns 122,868 shares of the communications equipment provider’s stock valued at $13,403,000 after buying an additional 34,614 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Harris Corporation during the 2nd quarter valued at approximately $2,368,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Harris Corporation by 90.1% during the 2nd quarter. Principal Financial Group Inc. now owns 675,756 shares of the communications equipment provider’s stock valued at $73,710,000 after buying an additional 320,216 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.
HRS has been the subject of several research analyst reports. BidaskClub cut Harris Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Cowen and Company reissued a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a research report on Tuesday, August 1st. Zacks Investment Research raised Harris Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Credit Suisse Group initiated coverage on Harris Corporation in a research report on Monday, August 28th. They set an “outperform” rating and a $144.00 price target on the stock. Finally, ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $145.43.
In other Harris Corporation news, SVP Scott T. Mikuen sold 13,600 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total value of $1,677,696.00. Following the sale, the senior vice president now directly owns 61,349 shares of the company’s stock, valued at $7,568,012.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Sheldon J. Fox sold 50,300 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $118.24, for a total value of $5,947,472.00. Following the completion of the sale, the senior vice president now directly owns 73,092 shares in the company, valued at $8,642,398.08. The disclosure for this sale can be found here. Insiders sold 68,287 shares of company stock worth $8,159,066 over the last ninety days. 1.91% of the stock is owned by corporate insiders.
Harris Corporation (NYSE:HRS) traded up $1.20 during mid-day trading on Monday, hitting $138.76. The company had a trading volume of 591,800 shares, compared to its average volume of 753,265. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 1.11. The firm has a market cap of $16,560.00, a price-to-earnings ratio of 24.47, a P/E/G ratio of 3.31 and a beta of 1.12. Harris Corporation has a twelve month low of $99.13 and a twelve month high of $141.97.
Harris Corporation (NYSE:HRS) last issued its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.03. Harris Corporation had a return on equity of 23.36% and a net margin of 9.02%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the company earned $1.28 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. equities research analysts forecast that Harris Corporation will post 5.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, November 16th. Harris Corporation’s dividend payout ratio is presently 42.62%.
Harris Corporation Profile
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