Hancock Holding Co. Cuts Holdings in Harris Corporation (HRS)

Hancock Holding Co. reduced its position in shares of Harris Corporation (NYSE:HRS) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,641 shares of the communications equipment provider’s stock after selling 2,225 shares during the period. Harris Corporation accounts for about 0.6% of Hancock Holding Co.’s portfolio, making the stock its 26th largest holding. Hancock Holding Co. owned 0.11% of Harris Corporation worth $15,232,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Trust Co. of Vermont increased its stake in Harris Corporation by 20.6% during the 2nd 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. Northwestern Mutual Wealth Management Co. increased its stake in Harris Corporation by 110.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock worth $131,000 after buying an additional 632 shares in the last quarter. BT Investment Management Ltd purchased a new stake in Harris Corporation during the 2nd quarter worth approximately $157,000. Stephens Inc. AR purchased a new stake in Harris Corporation during the 2nd quarter worth approximately $167,000. Finally, Ullmann Financial Group Inc. purchased a new stake in Harris Corporation during the 1st quarter worth approximately $179,000. Institutional investors own 84.99% of the company’s stock.

In other news, insider Christopher D. Young sold 4,070 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Sheldon J. Fox sold 50,300 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 72,357 shares of company stock valued at $8,643,111. Corporate insiders own 1.91% of the company’s stock.

Shares of Harris Corporation (NYSE HRS) traded up 0.56% on Friday, hitting $131.80. The stock had a trading volume of 553,767 shares. Harris Corporation has a one year low of $88.89 and a one year high of $131.89. The company’s 50 day moving average is $120.91 and its 200 day moving average is $113.51. The stock has a market cap of $15.78 billion, a PE ratio of 29.71 and a beta of 1.19.

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

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

Several research analysts have recently weighed in on the company. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group LLC restated a “buy” rating and set a $135.00 target price (up from $125.00) on shares of Harris Corporation in a report on Friday, July 14th. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Cowen and Company restated a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Harris Corporation has an average rating of “Buy” and a consensus price target of $121.57.

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Harris Corporation Profile

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

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