Schwab Charles Investment Management Inc. Has $53.74 Million Stake in Harris Corporation (HRS)
Schwab Charles Investment Management Inc. increased its position in Harris Corporation (NYSE:HRS) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 408,128 shares of the communications equipment provider’s stock after acquiring an additional 4,097 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.34% of Harris worth $53,743,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in HRS. Harbour Capital Advisors LLC boosted its position in shares of Harris by 10,808.2% in the second quarter. Harbour Capital Advisors LLC now owns 21,271 shares of the communications equipment provider’s stock valued at $195,000 after acquiring an additional 21,076 shares during the period. Rothschild Asset Management Inc. boosted its position in shares of Harris by 17.2% in the second quarter. Rothschild Asset Management Inc. now owns 4,876 shares of the communications equipment provider’s stock valued at $532,000 after acquiring an additional 715 shares during the period. Korea Investment CORP boosted its position in shares of Harris by 166.3% in the second quarter. Korea Investment CORP now owns 14,853 shares of the communications equipment provider’s stock valued at $1,620,000 after acquiring an additional 9,276 shares during the period. Advisor Partners LLC boosted its position in shares of Harris by 12.5% in the second quarter. Advisor Partners LLC now owns 2,582 shares of the communications equipment provider’s stock valued at $282,000 after acquiring an additional 287 shares during the period. Finally, Trexquant Investment LP boosted its position in shares of Harris by 41.7% in the second quarter. Trexquant Investment LP now owns 3,400 shares of the communications equipment provider’s stock valued at $371,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 84.41% of the company’s stock.
HRS has been the subject of a number of analyst reports. ValuEngine upgraded shares of Harris from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Harris from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Credit Suisse Group initiated coverage on shares of Harris in a research note on Monday, August 28th. They issued an “outperform” rating and a $144.00 target price on the stock. J P Morgan Chase & Co raised their target price on shares of Harris from $138.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Finally, Cowen reaffirmed a “buy” rating and issued a $150.00 target price on shares of Harris in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Harris has an average rating of “Buy” and a consensus target price of $145.43.
In other Harris news, SVP Scott T. Mikuen sold 13,600 shares of Harris stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the transaction, the senior vice president now directly owns 61,349 shares of the company’s stock, valued at $7,568,012.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.91% of the company’s stock.
Shares of Harris Corporation (HRS) traded up $0.89 on Wednesday, reaching $142.58. 705,100 shares of the company were exchanged, compared to its average volume of 749,620. The stock has a market capitalization of $16,899.66, a P/E ratio of 25.00, a P/E/G ratio of 3.38 and a beta of 1.12. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.11 and a quick ratio of 0.64. Harris Corporation has a 1-year low of $99.13 and a 1-year high of $144.94.
Harris (NYSE:HRS) last announced its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.44 billion. Harris had a net margin of 9.02% and a return on equity of 23.36%. Harris’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $1.28 earnings per share. research analysts anticipate that Harris Corporation will post 5.99 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, November 16th. Harris’s dividend payout ratio is currently 50.89%.
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Harris Company Profile
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