Hartford Investment Management Co. reduced its holdings in Harris Co. (NYSE:HRS) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 13,312 shares of the communications equipment provider’s stock after selling 136 shares during the period. Hartford Investment Management Co.’s holdings in Harris were worth $1,792,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its position in Harris by 3.9% in the second quarter. Advisors Asset Management Inc. now owns 52,970 shares of the communications equipment provider’s stock worth $7,656,000 after acquiring an additional 1,980 shares in the last quarter. Atria Investments LLC boosted its holdings in shares of Harris by 19.6% during the 3rd quarter. Atria Investments LLC now owns 2,421 shares of the communications equipment provider’s stock worth $410,000 after buying an additional 397 shares during the period. Iberiabank Corp bought a new stake in shares of Harris during the 3rd quarter worth $297,000. Scout Investments Inc. boosted its holdings in shares of Harris by 19.5% during the 3rd quarter. Scout Investments Inc. now owns 169,608 shares of the communications equipment provider’s stock worth $28,699,000 after buying an additional 27,706 shares during the period. Finally, Toth Financial Advisory Corp bought a new stake in shares of Harris during the 3rd quarter worth $218,000. Institutional investors and hedge funds own 86.10% of the company’s stock.
Several analysts recently issued reports on HRS shares. Cowen reaffirmed a “buy” rating and set a $194.00 price objective on shares of Harris in a report on Tuesday, January 29th. ValuEngine upgraded shares of Harris from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Credit Suisse Group upped their target price on shares of Harris from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Monday, October 15th. Barclays cut their target price on shares of Harris from $181.00 to $161.00 and set an “overweight” rating for the company in a research note on Tuesday, December 4th. Finally, Argus upped their target price on shares of Harris from $170.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $182.33.
Harris (NYSE:HRS) last announced its earnings results on Tuesday, January 29th. The communications equipment provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Harris had a net margin of 13.29% and a return on equity of 26.55%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $1.67 EPS. As a group, analysts forecast that Harris Co. will post 8.01 earnings per share for the current fiscal year.
Harris Company Profile
Harris Corporation provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.
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