Vontobel Swiss Wealth Advisors AG grew its position in shares of Harris Corporation (NYSE:HRS) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,261 shares of the communications equipment provider’s stock after buying an additional 767 shares during the quarter. Harris Corporation accounts for 1.5% of Vontobel Swiss Wealth Advisors AG’s investment portfolio, making the stock its 18th largest holding. Vontobel Swiss Wealth Advisors AG’s holdings in Harris Corporation were worth $2,405,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Harris Corporation by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 13,405,643 shares of the communications equipment provider’s stock worth $1,462,287,000 after purchasing an additional 114,384 shares in the last quarter. BlackRock Inc. grew its stake in Harris Corporation by 2.3% during the 2nd quarter. BlackRock Inc. now owns 7,848,843 shares of the communications equipment provider’s stock valued at $856,150,000 after acquiring an additional 178,626 shares in the last quarter. Capital Research Global Investors purchased a new position in Harris Corporation during the 2nd quarter valued at about $304,508,000. Janus Henderson Group PLC grew its stake in shares of Harris Corporation by 12,337.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,459,438 shares of the communications equipment provider’s stock valued at $268,276,000 after buying an additional 2,439,664 shares in the last quarter. Finally, Burgundy Asset Management Ltd. grew its stake in shares of Harris Corporation by 1.6% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,287,891 shares of the communications equipment provider’s stock valued at $140,483,000 after buying an additional 20,765 shares in the last quarter. Institutional investors and hedge funds own 83.84% of the company’s stock.
Shares of Harris Corporation (NYSE:HRS) traded down $1.48 during midday trading on Thursday, hitting $142.52. The stock had a trading volume of 596,300 shares, compared to its average volume of 746,969. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.11 and a quick ratio of 0.64. Harris Corporation has a one year low of $99.13 and a one year high of $144.75. The company has a market cap of $16,810.00, a P/E ratio of 25.40, a P/E/G ratio of 3.43 and a beta of 1.12.
Harris Corporation (NYSE:HRS) last released its quarterly earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Harris Corporation had a return on equity of 23.36% and a net margin of 9.02%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $1.28 EPS. equities analysts predict that Harris Corporation will post 5.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.28 annualized dividend and a yield of 1.60%. Harris Corporation’s dividend payout ratio is presently 42.62%.
HRS has been the subject of a number of research analyst reports. Jefferies Group LLC upped their price target on Harris Corporation from $135.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Credit Suisse Group restated an “outperform” rating and issued a $155.00 target price (up from $144.00) on shares of Harris Corporation in a research note on Wednesday, November 1st. They noted that the move was a valuation call. J P Morgan Chase & Co upped their price target on Harris Corporation from $138.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Harris Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a report on Monday, October 16th. Finally, Seaport Global Securities restated a “buy” rating and set a $145.00 target price (up previously from $135.00) on shares of Harris Corporation in a report on Monday, October 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $145.43.
In other Harris Corporation news, SVP Scott T. Mikuen sold 13,600 shares of Harris Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total value of $1,677,696.00. Following the completion of the transaction, the senior vice president now directly owns 61,349 shares of the company’s stock, valued at approximately $7,568,012.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.91% of the stock is owned by insiders.
Harris Corporation Company Profile
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