Bank of New York Mellon Corp increased its holdings in shares of Harris Corporation (NYSE:HRS) by 6.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,890,447 shares of the communications equipment provider’s stock after purchasing an additional 122,090 shares during the period. Bank of New York Mellon Corp owned approximately 1.59% of Harris Corporation worth $248,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. EP Wealth Advisors LLC lifted its position in shares of Harris Corporation by 1.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,875 shares of the communications equipment provider’s stock worth $205,000 after purchasing an additional 19 shares during the last quarter. Blue Chip Partners Inc. lifted its position in shares of Harris Corporation by 1.0% during the 2nd quarter. Blue Chip Partners Inc. now owns 2,729 shares of the communications equipment provider’s stock worth $298,000 after purchasing an additional 26 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in shares of Harris Corporation by 0.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 4,685 shares of the communications equipment provider’s stock worth $511,000 after purchasing an additional 30 shares during the last quarter. Comerica Securities Inc. lifted its position in shares of Harris Corporation by 3.5% during the 2nd quarter. Comerica Securities Inc. now owns 2,068 shares of the communications equipment provider’s stock worth $226,000 after purchasing an additional 70 shares during the last quarter. Finally, Ropes Wealth Advisors LLC lifted its position in shares of Harris Corporation by 5.4% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock worth $178,000 after purchasing an additional 84 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

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Several research firms have commented on HRS. Jefferies Group LLC upped their price target on Harris Corporation from $135.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $155.00 price target (up previously from $144.00) on shares of Harris Corporation in a report on Wednesday, November 1st. They noted that the move was a valuation call. J P Morgan Chase & Co upped their price target on Harris Corporation from $138.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Zacks Investment Research raised Harris Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a report on Monday, October 16th. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $145.00 price target (up previously from $135.00) on shares of Harris Corporation in a report on Monday, October 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $145.43.

Shares of Harris Corporation (NYSE HRS) opened at $139.84 on Friday. Harris Corporation has a 12 month low of $99.13 and a 12 month high of $141.97. The firm has a market capitalization of $16,669.07, a P/E ratio of 24.66, a PEG ratio of 3.33 and a beta of 1.12. The company has a quick ratio of 0.64, a current ratio of 1.11 and a debt-to-equity ratio of 1.14.

Harris Corporation (NYSE:HRS) last released its quarterly earnings data on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.03. Harris Corporation had a return on equity of 23.36% and a net margin of 9.02%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company posted $1.28 EPS. The company’s revenue was down .5% compared to the same quarter last year. sell-side analysts predict that Harris Corporation will post 5.99 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a $0.57 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.28 annualized dividend and a dividend yield of 1.63%. Harris Corporation’s dividend payout ratio is currently 50.89%.

In other news, SVP Sheldon J. Fox sold 50,300 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $118.24, for a total value of $5,947,472.00. Following the sale, the senior vice president now directly owns 73,092 shares in the company, valued at approximately $8,642,398.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 4,387 shares of the company’s stock in a transaction that occurred 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. Over the last quarter, insiders sold 68,287 shares of company stock worth $8,159,066. Corporate insiders own 1.91% of the company’s stock.

Harris Corporation Company Profile

Institutional Ownership by Quarter for Harris Corporation (NYSE:HRS)

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