White Pine Investment CO cut its stake in shares of Harris Corporation (NYSE:HRS) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,225 shares of the communications equipment provider’s stock after selling 1,120 shares during the period. Harris Corporation accounts for 1.8% of White Pine Investment CO’s investment portfolio, making the stock its 27th largest position. White Pine Investment CO’s holdings in Harris Corporation were worth $3,297,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. LS Investment Advisors LLC boosted its stake in Harris Corporation by 197.3% in the second quarter. LS Investment Advisors LLC now owns 14,491 shares of the communications equipment provider’s stock valued at $1,581,000 after buying an additional 9,617 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its stake in Harris Corporation by 1.0% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 25,802 shares of the communications equipment provider’s stock valued at $2,814,000 after buying an additional 250 shares in the last quarter. TNB Financial boosted its stake in Harris Corporation by 14.2% in the second quarter. TNB Financial now owns 2,740 shares of the communications equipment provider’s stock valued at $299,000 after buying an additional 340 shares in the last quarter. Harwood Advisory Group LLC boosted its stake in Harris Corporation by 0.4% in the second quarter. Harwood Advisory Group LLC now owns 2,119 shares of the communications equipment provider’s stock valued at $231,000 after buying an additional 9 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Harris Corporation by 164.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 34,551 shares of the communications equipment provider’s stock valued at $3,769,000 after buying an additional 21,500 shares in the last quarter. Institutional investors own 85.64% of the company’s stock.
Harris Corporation (NYSE:HRS) opened at 116.69 on Friday. The company’s 50-day moving average price is $112.47 and its 200 day moving average price is $109.74. The firm has a market capitalization of $14.04 billion, a PE ratio of 26.31 and a beta of 1.22. Harris Corporation has a one year low of $86.87 and a one year high of $117.71.
Harris Corporation (NYSE:HRS) last announced its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, meeting analysts’ consensus estimates of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts forecast that Harris Corporation will post $6.00 earnings per share for the current year.
Several research firms have recently commented on HRS. BidaskClub cut Harris Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC raised their price target on Harris Corporation from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, May 4th. Cowen and Company reissued a “buy” rating and issued a $125.00 price target on shares of Harris Corporation in a report on Tuesday, August 1st. ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Barclays PLC cut Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price objective for the company. in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average 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 on Wednesday, May 31st. The stock was sold at an average price of $112.01, for a total transaction 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 approximately $5,635,335.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.71% of the stock is currently owned by corporate insiders.
Harris Corporation Company Profile
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