Sciencast Management LP Buys New Position in Harris Corporation (HRS)

Sciencast Management LP bought a new stake in shares of Harris Corporation (NYSE:HRS) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,966 shares of the communications equipment provider’s stock, valued at approximately $214,000.

Several other large investors also recently modified their holdings of HRS. Trust Co. of Vermont boosted its stake in shares of Harris Corporation by 20.6% during the 2nd quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 157 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 valued at $131,000 after buying an additional 632 shares during the period. BT Investment Management Ltd acquired a new stake in shares of Harris Corporation during the 2nd quarter valued at $157,000. Stephens Inc. AR acquired a new stake in shares of Harris Corporation during the 2nd quarter valued at $167,000. Finally, Ropes Wealth Advisors LLC boosted its stake in shares of Harris Corporation by 5.4% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock valued at $178,000 after buying an additional 84 shares during the period. 84.99% of the stock is owned by institutional investors.

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In related news, 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 completion of the transaction, the insider now owns 46,131 shares in the company, valued at $5,486,359.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sheldon J. Fox sold 50,300 shares of the stock in a transaction 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 owns 73,092 shares of the company’s stock, valued at approximately $8,642,398.08. The disclosure for this sale can be found here. Insiders have sold 72,357 shares of company stock valued at $8,643,111 in the last 90 days. 1.91% of the stock is currently owned by corporate insiders.

Harris Corporation (NYSE HRS) traded up 0.22% during midday trading on Thursday, hitting $136.30. 13,864 shares of the company traded hands. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $136.63. The firm has a market capitalization of $16.32 billion, a PE ratio of 30.73 and a beta of 1.18. The stock’s 50-day moving average is $127.71 and its 200-day moving average is $116.04.

Harris Corporation (NYSE:HRS) last announced its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, hitting the Thomson Reuters’ 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 quarter in the prior year, the company posted $1.45 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Analysts anticipate that Harris Corporation will post $6.01 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a dividend of $0.57 per share. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 1.68%. Harris Corporation’s dividend payout ratio is presently 51.47%.

A number of brokerages have issued reports on HRS. Seaport Global Securities reissued a “buy” rating and set a $145.00 target price (up previously from $135.00) on shares of Harris Corporation in a research note on Monday. Cowen and Company reissued a “buy” rating and set a $134.00 target price on shares of Harris Corporation in a research note on Monday, October 2nd. ValuEngine lowered shares of Harris Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Harris Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $135.00 target price on shares of Harris Corporation in a research note on Thursday, September 21st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $128.00.

Harris Corporation Company Profile

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

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