Boston Partners cut its holdings in Harris Co. (NYSE:HRS) by 24.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,045,277 shares of the communications equipment provider’s stock after selling 658,512 shares during the quarter. Boston Partners’ holdings in Harris were worth $295,624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. CWM LLC grew its position in shares of Harris by 40.5% in 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 during the period. Sigma Planning Corp boosted its position in Harris by 22.9% during the 2nd quarter. Sigma Planning Corp now owns 1,907 shares of the communications equipment provider’s stock worth $276,000 after acquiring an additional 355 shares during the last quarter. Brookmont Capital Management boosted its position in Harris by 1.6% during the 2nd quarter. Brookmont Capital Management now owns 24,086 shares of the communications equipment provider’s stock worth $3,481,000 after acquiring an additional 384 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Harris by 2.6% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 17,761 shares of the communications equipment provider’s stock worth $2,865,000 after acquiring an additional 451 shares during the last quarter. Finally, First Commonwealth Financial Corp PA boosted its position in Harris by 16.9% during the 1st quarter. First Commonwealth Financial Corp PA now owns 3,127 shares of the communications equipment provider’s stock worth $504,000 after acquiring an additional 451 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Harris opened at $164.57 on Friday, MarketBeat reports. Harris Co. has a twelve month low of $117.46 and a twelve month high of $170.54. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.90 and a quick ratio of 0.47. The company has a market cap of $19.49 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 3.51 and a beta of 1.22.

Harris (NYSE:HRS) last released its quarterly earnings results on Tuesday, July 31st. The communications equipment provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.02. Harris had a return on equity of 25.36% and a net margin of 11.61%. The firm 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 posted $1.49 EPS. The business’s revenue was up 8.0% on a year-over-year basis. sell-side analysts forecast that Harris Co. will post 7.79 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on the company. Zacks Investment Research downgraded Harris from a “hold” rating to a “sell” rating in a research report on Tuesday, April 17th. Credit Suisse Group upped their price target on Harris from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 1st. Seaport Global Securities reaffirmed a “buy” rating and set a $185.00 price target on shares of Harris in a research report on Thursday, August 2nd. Finally, Argus reduced their price target on Harris from $196.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, July 5th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $171.22.

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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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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