Bp Plc Continues to Hold Position in Harris Corporation (NYSE:HRS)

Bp Plc maintained its stake in Harris Corporation (NYSE:HRS) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 16,000 shares of the communications equipment provider’s stock at the end of the second quarter. Bp Plc’s holdings in Harris Corporation were worth $1,745,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bank of The West boosted its stake in Harris Corporation by 24.9% in the first quarter. Bank of The West now owns 16,540 shares of the communications equipment provider’s stock worth $1,840,000 after buying an additional 3,301 shares during the period. DnB Asset Management AS boosted its stake in Harris Corporation by 17.9% in the first quarter. DnB Asset Management AS now owns 14,467 shares of the communications equipment provider’s stock worth $1,610,000 after buying an additional 2,200 shares during the period. Capital Investment Advisors LLC acquired a new stake in Harris Corporation during the first quarter worth approximately $483,000. Somerset Trust Co boosted its stake in Harris Corporation by 2.0% in the first quarter. Somerset Trust Co now owns 13,461 shares of the communications equipment provider’s stock worth $1,498,000 after buying an additional 258 shares during the period. Finally, Howe & Rusling Inc. boosted its stake in Harris Corporation by 0.9% in the first quarter. Howe & Rusling Inc. now owns 4,962 shares of the communications equipment provider’s stock worth $552,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 85.13% of the company’s stock.

Shares of Harris Corporation (NYSE HRS) opened at 118.37 on Friday. The company’s 50 day moving average price is $114.00 and its 200 day moving average price is $110.51. The stock has a market capitalization of $14.24 billion, a PE ratio of 26.68 and a beta of 1.22. Harris Corporation has a 12 month low of $88.89 and a 12 month high of $119.07.

Harris Corporation (NYSE:HRS) last released its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share for the quarter, meeting the consensus estimate of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business posted $1.45 EPS. Harris Corporation’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts anticipate that Harris Corporation will post $6.00 earnings per share for the current fiscal year.

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A number of analysts have recently commented on the company. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Jefferies Group LLC restated a “buy” rating and issued a $135.00 price objective (up from $125.00) on shares of Harris Corporation in a research report on Friday, July 14th. Cowen and Company restated a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a research report on Tuesday, August 1st. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research 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 research report on Monday, May 1st. One equities 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 company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $113.29.

In related news, insider Christopher D. Young sold 4,070 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $118.93, for a total value of $484,045.10. Following the completion of the transaction, the insider now directly owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert L. Duffy sold 33,600 shares of the firm’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 completion of the transaction, the senior vice president now directly owns 50,311 shares of the company’s stock, valued at $5,635,335.11. The disclosure for this sale can be found here. Company insiders own 1.71% of the company’s stock.

Harris Corporation Company Profile

Institutional Ownership by Quarter for Harris Corporation (NYSE:HRS)

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