Daiwa Securities Group Inc. increased its holdings in shares of Harris Corporation (NYSE:HRS) by 427.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 30,722 shares of the communications equipment provider’s stock after purchasing an additional 24,898 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Harris were worth $4,352,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in Harris by 36.3% in the third quarter. Janus Henderson Group PLC now owns 3,352,336 shares of the communications equipment provider’s stock valued at $441,435,000 after purchasing an additional 892,898 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Harris by 11.1% in the third quarter. Artisan Partners Limited Partnership now owns 1,916,965 shares of the communications equipment provider’s stock valued at $252,426,000 after purchasing an additional 192,230 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Harris by 6.9% during the third quarter. Bank of New York Mellon Corp now owns 1,890,447 shares of the communications equipment provider’s stock worth $248,935,000 after acquiring an additional 122,090 shares in the last quarter. Burgundy Asset Management Ltd. increased its position in shares of Harris by 1.6% during the second quarter. Burgundy Asset Management Ltd. now owns 1,287,891 shares of the communications equipment provider’s stock worth $140,483,000 after acquiring an additional 20,765 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Harris by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 699,934 shares of the communications equipment provider’s stock worth $92,165,000 after acquiring an additional 5,856 shares in the last quarter. 83.84% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the stock. Cowen reissued a “buy” rating and set a $150.00 price objective on shares of Harris in a research report on Thursday, October 19th. Credit Suisse Group increased their price objective on shares of Harris from $167.00 to $187.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Zacks Investment Research raised shares of Harris from a “hold” rating to a “buy” rating and set a $153.00 price objective for the company in a research report on Monday, October 16th. Jefferies Group increased their price objective on shares of Harris from $135.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $154.57.

Shares of Harris Corporation (HRS) opened at $152.79 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 0.68 and a debt-to-equity ratio of 1.13. Harris Corporation has a 12-month low of $105.80 and a 12-month high of $160.67. The stock has a market cap of $18,168.03, a price-to-earnings ratio of 25.85, a PEG ratio of 3.94 and a beta of 1.29.

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

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Harris 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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