Capital One National Association raised its position in Harris Corporation (NYSE:HRS) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,790 shares of the communications equipment provider’s stock after buying an additional 1,271 shares during the period. Capital One National Association’s holdings in Harris Corporation were worth $8,921,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Contravisory Investment Management Inc. raised its stake in shares of Harris Corporation by 303.3% in the first quarter. Contravisory Investment Management Inc. now owns 1,222 shares of the communications equipment provider’s stock worth $136,000 after buying an additional 919 shares during the period. Ropes Wealth Advisors LLC raised its stake in shares of Harris Corporation by 198.8% in the first quarter. Ropes Wealth Advisors LLC now owns 1,551 shares of the communications equipment provider’s stock worth $173,000 after buying an additional 1,032 shares during the period. Ullmann Financial Group Inc. acquired a new stake in shares of Harris Corporation during the first quarter worth approximately $179,000. Fulton Bank N.A. acquired a new stake in shares of Harris Corporation during the first quarter worth approximately $202,000. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in shares of Harris Corporation during the first quarter worth approximately $203,000. Institutional investors and hedge funds own 86.22% of the company’s stock.
Harris Corporation (HRS) traded up 1.09% during mid-day trading on Monday, reaching $114.04. The company’s stock had a trading volume of 373,403 shares. The firm has a market cap of $13.90 billion, a PE ratio of 24.51 and a beta of 1.22. The company has a 50-day moving average price of $110.14 and a 200-day moving average price of $108.08. Harris Corporation has a 12-month low of $82.74 and a 12-month high of $114.32.
Harris Corporation (NYSE:HRS) last released its quarterly earnings results on Wednesday, May 3rd. The communications equipment provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Harris Corporation had a return on equity of 23.25% and a net margin of 8.50%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 EPS. On average, equities research analysts expect that Harris Corporation will post $5.52 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were paid a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $2.12 annualized dividend and a dividend yield of 1.88%. Harris Corporation’s dividend payout ratio (DPR) is 45.69%.
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A number of brokerages recently commented on HRS. Jefferies Group LLC lifted their price target on Harris Corporation from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Cowen and Company reiterated a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a report on Thursday. Zacks Investment Research lowered Harris Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub lowered Harris Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Barclays PLC lowered Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price target on the stock. in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $109.50.
In other news, SVP Robert L. Duffy sold 33,600 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $112.01, for a total value of $3,763,536.00. Following the completion of the sale, the senior vice president now directly owns 50,311 shares in the company, valued at approximately $5,635,335.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.71% of the company’s stock.
About Harris Corporation
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