USA Financial Portformulas Corp purchased a new stake in Harris Co. (NYSE:HRS) in the fourth quarter, HoldingsChannel reports. The firm purchased 20,971 shares of the communications equipment provider’s stock, valued at approximately $2,971,000.

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of Harris by 980.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,243 shares of the communications equipment provider’s stock valued at $176,000 after acquiring an additional 1,128 shares during the last quarter. Calton & Associates Inc. bought a new stake in shares of Harris in the 4th quarter valued at about $180,000. First National Bank & Trust Co. of Newtown bought a new stake in shares of Harris in the 4th quarter valued at about $200,000. Koshinski Asset Management Inc. bought a new stake in shares of Harris in the 4th quarter valued at about $203,000. Finally, HL Financial Services LLC bought a new stake in shares of Harris in the 4th quarter valued at about $205,000. 83.94% of the stock is owned by institutional investors.

In related news, SVP Sheldon J. Fox sold 8,682 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $156.00, for a total transaction of $1,354,392.00. Following the completion of the sale, the senior vice president now directly owns 53,724 shares of the company’s stock, valued at approximately $8,380,944. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.91% of the stock is currently owned by corporate insiders.

Harris Co. (NYSE HRS) traded down $1.71 during midday trading on Monday, reaching $152.15. The company had a trading volume of 22,358 shares, compared to its average volume of 776,360. Harris Co. has a twelve month low of $106.18 and a twelve month high of $161.04. The company has a current ratio of 1.22, a quick ratio of 0.68 and a debt-to-equity ratio of 1.13. The company has a market cap of $18,270.00, a PE ratio of 28.49, a price-to-earnings-growth ratio of 3.96 and a beta of 1.27.

Harris (NYSE:HRS) last posted its earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.28. Harris had a return on equity of 24.49% and a net margin of 8.63%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the business earned $1.38 EPS. Harris’s revenue for the quarter was up 5.9% compared to the same quarter last year. analysts anticipate that Harris Co. will post 6.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Thursday, March 8th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $2.28 dividend on an annualized basis and a yield of 1.50%. Harris’s payout ratio is 42.22%.

A number of analysts have recently commented on the company. ValuEngine raised Harris from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Credit Suisse Group upped their price target on Harris from $167.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Cowen reaffirmed a “buy” rating and issued a $170.00 price target on shares of Harris in a research note on Tuesday, January 30th. Finally, Zacks Investment Research raised Harris from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research note on Thursday, January 18th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $154.57.

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Harris Company Profile

Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless and technology, among others, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services.

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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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