Jaffetilchin Investment Partners LLC Acquires New Position in Harris Corporation (HRS)

Jaffetilchin Investment Partners LLC acquired a new stake in shares of Harris Corporation (NYSE:HRS) during the 4th quarter, HoldingsChannel reports. The fund acquired 4,799 shares of the communications equipment provider’s stock, valued at approximately $680,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Prudential PLC lifted its stake in shares of Harris by 25.5% during the second quarter. Prudential PLC now owns 81,028 shares of the communications equipment provider’s stock valued at $8,839,000 after buying an additional 16,476 shares during the period. Amalgamated Bank lifted its stake in shares of Harris by 58.9% during the second quarter. Amalgamated Bank now owns 13,916 shares of the communications equipment provider’s stock valued at $1,518,000 after buying an additional 5,159 shares during the period. KBC Group NV lifted its stake in shares of Harris by 39.3% during the third quarter. KBC Group NV now owns 18,473 shares of the communications equipment provider’s stock valued at $2,433,000 after buying an additional 5,216 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Harris by 10.2% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,416 shares of the communications equipment provider’s stock valued at $6,375,000 after buying an additional 4,500 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in shares of Harris during the third quarter valued at approximately $540,000. 84.28% of the stock is currently owned by institutional investors and hedge funds.

Harris Corporation (NYSE HRS) opened at $145.15 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 1.11. The firm has a market cap of $17,300.00, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 3.43 and a beta of 1.13. Harris Corporation has a one year low of $99.13 and a one year high of $146.96.

Harris (NYSE:HRS) last posted its quarterly earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.03. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.44 billion. Harris had a net margin of 9.02% and a return on equity of 23.36%. Harris’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 earnings per share. equities analysts expect that Harris Corporation will post 5.99 EPS for the current year.

Several brokerages recently issued reports on HRS. Cowen reissued a “buy” rating and set a $150.00 price objective on shares of Harris in a research note on Tuesday, October 31st. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of Harris from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. JPMorgan Chase & Co. upped their price objective on shares of Harris from $138.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Finally, Jefferies Group reissued a “buy” rating and set a $135.00 price objective on shares of Harris in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $145.43.

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Harris Company Profile

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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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