Pinebridge Investments L.P. Has $4.05 Million Position in Harris Corporation (HRS)

Pinebridge Investments L.P. lifted its position in shares of Harris Corporation (NYSE:HRS) by 259.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,108 shares of the communications equipment provider’s stock after buying an additional 26,796 shares during the quarter. Pinebridge Investments L.P.’s holdings in Harris Corporation were worth $4,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP lifted its stake in shares of Harris Corporation by 138.0% during the 2nd quarter. GSA Capital Partners LLP now owns 11,688 shares of the communications equipment provider’s stock valued at $1,275,000 after buying an additional 6,778 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Harris Corporation by 8.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 368,264 shares of the communications equipment provider’s stock valued at $40,170,000 after buying an additional 28,818 shares in the last quarter. Quantitative Investment Management LLC lifted its stake in shares of Harris Corporation by 39.3% during the 2nd quarter. Quantitative Investment Management LLC now owns 67,300 shares of the communications equipment provider’s stock valued at $7,341,000 after buying an additional 19,000 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of Harris Corporation by 0.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,685 shares of the communications equipment provider’s stock valued at $511,000 after buying an additional 30 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Harris Corporation by 5.7% during the 2nd quarter. ProShare Advisors LLC now owns 32,718 shares of the communications equipment provider’s stock valued at $3,569,000 after buying an additional 1,768 shares in the last quarter. Institutional investors own 84.99% of the company’s stock.

In other Harris Corporation news, SVP Sheldon J. Fox sold 50,300 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the transaction, the senior vice president now directly owns 73,092 shares of the company’s stock, valued at $8,642,398.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher D. Young sold 4,070 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $118.93, for a total transaction of $484,045.10. Following the transaction, the insider now directly owns 46,131 shares in the company, valued at $5,486,359.83. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,357 shares of company stock worth $8,643,111. Insiders own 1.91% of the company’s stock.

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A number of research analysts recently weighed in on the stock. Jefferies Group LLC restated a “buy” rating and set a $135.00 target price on shares of Harris Corporation in a research note on Thursday. Zacks Investment Research upgraded shares of Harris Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday. Cowen and Company restated a “buy” rating and set a $134.00 target price (up previously from $125.00) on shares of Harris Corporation in a research note on Tuesday, September 12th. ValuEngine upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Credit Suisse Group assumed coverage on shares of Harris Corporation in a research note on Monday, August 28th. They set an “outperform” rating and a $144.00 target price on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Harris Corporation presently has a consensus rating of “Buy” and a consensus target price of $121.57.

Shares of Harris Corporation (NYSE:HRS) traded down 0.42% during mid-day trading on Thursday, reaching $131.05. 36,072 shares of the company’s stock traded hands. The company’s 50 day moving average is $120.91 and its 200 day moving average is $113.51. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $131.90. The company has a market cap of $15.69 billion, a P/E ratio of 29.54 and a beta of 1.19.

Harris Corporation (NYSE:HRS) last posted its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.49. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The company’s revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. On average, analysts predict that Harris Corporation will post $6.01 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.73%. This is an increase from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 7th. Harris Corporation’s dividend payout ratio (DPR) is presently 51.47%.

Harris Corporation Company Profile

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

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