Chevy Chase Trust Holdings Inc. cut its position in Harris Co. (NYSE:HRS) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 approximately 0.09% of Harris worth $11,489,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Harris by 11.3% in the first quarter. Dimensional Fund Advisors LP now owns 590,844 shares of the communications equipment provider’s stock valued at $65,744,000 after buying an additional 59,933 shares during the last quarter. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Harris during the first quarter valued at $1,458,000. Bank of Nova Scotia increased its position in shares of Harris by 946.4% in the first quarter. Bank of Nova Scotia now owns 28,473 shares of the communications equipment provider’s stock valued at $3,168,000 after buying an additional 25,752 shares during the period. Morgan Stanley increased its position in shares of Harris by 41.4% in the first quarter. Morgan Stanley now owns 700,940 shares of the communications equipment provider’s stock valued at $77,993,000 after buying an additional 205,317 shares during the period. Finally, USA Financial Portformulas Corp acquired a new position in shares of Harris during the fourth quarter valued at $2,999,000. 85.64% of the stock is owned by institutional investors and hedge funds.
Harris Co. (HRS) opened at 116.69 on Friday. Harris Co. has a 12 month low of $86.87 and a 12 month high of $117.71. The firm has a market capitalization of $14.04 billion, a P/E ratio of 26.31 and a beta of 1.22. The stock’s 50 day moving average price is $112.47 and its 200-day moving average price is $109.74.
Harris (NYSE:HRS) last released its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, hitting analysts’ consensus estimates of $1.49. Harris had a return on equity of 22.79% and a net margin of 10.77%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business posted $1.45 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts forecast that Harris Co. will post $6.00 earnings per share for the current year.
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A number of research analysts have recently issued reports on the company. Cowen and Company reiterated a “buy” rating and set a $125.00 target price on shares of Harris in a research report on Thursday, July 6th. BidaskClub upgraded Harris from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. ValuEngine upgraded Harris from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Harris from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a report on Monday, April 10th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $125.00 price objective on shares of Harris in a research report on Friday, July 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Harris has a consensus rating of “Buy” and a consensus price target of $113.29.
In other news, SVP Robert L. Duffy sold 33,600 shares of the 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 completion of the sale, the senior vice president now owns 50,311 shares in the company, valued at $5,635,335.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.71% of the stock is currently owned by company insiders.
Harris Company Profile
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