Eqis Capital Management Inc. raised its position in Harris Corporation (NYSE:HRS) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,072 shares of the communications equipment provider’s stock after buying an additional 255 shares during the period. Eqis Capital Management Inc.’s holdings in Harris Corporation were worth $662,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of 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 last quarter. Contravisory Investment Management Inc. raised its stake in shares of Harris Corporation by 303.3% in the first quarter. Contravisory Investment Management Inc. now owns 1,222 shares of the communications equipment provider’s stock valued at $136,000 after buying an additional 919 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake 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 valued at $173,000 after buying an additional 1,032 shares during the last quarter. Ullmann Financial Group Inc. purchased a new stake in shares of Harris Corporation during the first quarter valued at approximately $179,000. Finally, Fulton Bank N.A. purchased a new stake in shares of Harris Corporation during the first quarter valued at approximately $202,000. Hedge funds and other institutional investors own 85.64% of the company’s stock.
Shares of Harris Corporation (HRS) opened at 113.78 on Wednesday. The company has a 50 day moving average price of $111.54 and a 200-day moving average price of $108.91. The stock has a market capitalization of $13.87 billion, a P/E ratio of 24.46 and a beta of 1.22. Harris Corporation has a 52-week low of $85.29 and a 52-week high of $116.09.
Harris Corporation (NYSE:HRS) last posted its quarterly earnings data on Wednesday, May 3rd. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.07. Harris Corporation had a return on equity of 23.25% and a net margin of 8.50%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm posted $1.45 EPS. Harris Corporation’s revenue was down 3.9% compared to the same quarter last year. On average, analysts predict that Harris Corporation will post $5.52 earnings per share for the current fiscal year.
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Several analysts have issued reports on the company. Zacks Investment Research lowered Harris Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Barclays PLC downgraded Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price objective on the stock. in a research report on Monday, May 1st. Cowen and Company restated a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a research report on Thursday, July 6th. Finally, BidaskClub downgraded Harris Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $110.75.
In related news, SVP Robert L. Duffy sold 33,600 shares of Harris Corporation stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $112.01, for a total value of $3,763,536.00. Following the sale, the senior vice president now directly owns 50,311 shares in the company, valued at approximately $5,635,335.11. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.71% of the company’s stock.
Harris Corporation Company Profile
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