Chevy Chase Trust Holdings Inc. lowered its position in shares of Harris Corporation (NYSE:HRS) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,327 shares of the communications equipment provider’s stock after selling 2,266 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.09% of Harris Corporation worth $11,489,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Somerset Trust Co increased its stake in shares of Harris Corporation by 2.7% in the second quarter. Somerset Trust Co now owns 13,830 shares of the communications equipment provider’s stock worth $1,508,000 after buying an additional 369 shares during the last quarter. National Pension Service increased its stake in Harris Corporation by 9.9% in the second quarter. National Pension Service now owns 127,316 shares of the communications equipment provider’s stock worth $13,876,000 after buying an additional 11,510 shares in the last quarter. Trust Co. of Vermont increased its stake in 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 in the last quarter. Bank of The West increased its stake in Harris Corporation by 22.6% in the second quarter. Bank of The West now owns 20,275 shares of the communications equipment provider’s stock worth $2,212,000 after buying an additional 3,735 shares in the last quarter. Finally, Pennsylvania Trust Co purchased a new stake in Harris Corporation during the second quarter worth about $1,041,000. 85.67% of the stock is owned by institutional investors.
Harris Corporation (HRS) opened at 114.41 on Friday. Harris Corporation has a 12-month low of $85.32 and a 12-month high of $116.09. The stock has a 50 day moving average price of $112.11 and a 200-day moving average price of $109.43. The company has a market capitalization of $13.95 billion, a price-to-earnings ratio of 24.59 and a beta of 1.22.
Harris Corporation (NYSE:HRS) last issued its quarterly earnings data on Wednesday, May 3rd. The communications equipment provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. Harris Corporation had a net margin of 8.50% and a return on equity of 23.25%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business posted $1.45 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts predict that Harris Corporation will post $5.52 EPS for the current fiscal year.
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A number of analysts have issued reports on the company. BidaskClub downgraded Harris Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC reissued a “buy” rating and issued a $135.00 target price (up from $125.00) on shares of Harris Corporation in a research report on Friday, July 14th. Cowen and Company reissued a “buy” rating and issued a $125.00 target price on shares of Harris Corporation in a research report on Thursday, July 6th. Zacks Investment Research downgraded Harris Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $110.75.
In other news, SVP Robert L. Duffy sold 33,600 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $112.01, for a total value of $3,763,536.00. Following the transaction, the senior vice president now directly owns 50,311 shares in the company, valued at approximately $5,635,335.11. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.71% of the company’s stock.
About Harris Corporation
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