BNP Paribas Arbitrage SA lifted its position in shares of Harris Corporation (NYSE:HRS) by 18.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,086 shares of the communications equipment provider’s stock after purchasing an additional 21,941 shares during the quarter. BNP Paribas Arbitrage SA owned 0.12% of Harris Corporation worth $18,710,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Co. of Vermont grew 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 worth $100,000 after purchasing an additional 157 shares during the period. BB&T Investment Services Inc. acquired a new stake in shares of Harris Corporation during the 2nd quarter worth approximately $113,000. Northwestern Mutual Wealth Management Co. grew 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 worth $131,000 after purchasing an additional 632 shares during the period. BT Investment Management Ltd purchased a new position in shares of Harris Corporation during the 2nd quarter valued at approximately $157,000. Finally, Stephens Inc. AR purchased a new position in shares of Harris Corporation during the 2nd quarter valued at approximately $167,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Harris Corporation (NYSE HRS) traded up $1.20 during mid-day trading on Friday, reaching $138.76. The company’s stock had a trading volume of 591,800 shares, compared to its average volume of 579,372. The company has a quick ratio of 0.64, a current ratio of 1.11 and a debt-to-equity ratio of 1.14. The stock has a market cap of $16,540.33, a price-to-earnings ratio of 24.47, a P/E/G ratio of 3.31 and a beta of 1.12. Harris Corporation has a 12 month low of $99.13 and a 12 month high of $141.97.
Harris Corporation (NYSE:HRS) last announced its quarterly earnings data on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. equities research analysts predict that Harris Corporation will post 5.99 earnings per share for the current year.
The company 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 of this dividend is Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a yield of 1.64%. Harris Corporation’s payout ratio is currently 50.89%.
In other Harris Corporation news, SVP Scott T. Mikuen sold 13,600 shares of the firm’s 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 transaction, the senior vice president now owns 61,349 shares in the company, valued at approximately $7,568,012.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 4,387 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $121.70, for a total value of $533,897.90. The disclosure for this sale can be found here. Insiders sold a total of 68,287 shares of company stock worth $8,159,066 in the last 90 days. 1.91% of the stock is currently owned by insiders.
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A number of brokerages have recently issued reports on HRS. Jefferies Group LLC reiterated a “buy” rating and set a $135.00 target price on shares of Harris Corporation in a research report on Thursday, September 21st. J P Morgan Chase & Co increased their target price on Harris Corporation from $138.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Cowen and Company reiterated a “buy” rating and set a $125.00 target price 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, September 1st. Finally, BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $145.43.
Harris Corporation Company Profile
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