DekaBank Deutsche Girozentrale Raises Position in Harris Corporation (HRS)
DekaBank Deutsche Girozentrale raised its stake in shares of Harris Corporation (NYSE:HRS) by 9.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,165 shares of the communications equipment provider’s stock after acquiring an additional 1,595 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Harris Corporation were worth $2,399,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of HRS. Aperio Group LLC lifted its holdings in shares of Harris Corporation by 32.3% during the second quarter. Aperio Group LLC now owns 49,261 shares of the communications equipment provider’s stock valued at $5,373,000 after acquiring an additional 12,019 shares during the period. APG Asset Management N.V. increased its position in Harris Corporation by 6.1% in the second quarter. APG Asset Management N.V. now owns 436,287 shares of the communications equipment provider’s stock worth $47,590,000 after purchasing an additional 25,050 shares during the period. Breton Hill Capital Ltd. acquired a new stake in Harris Corporation in the second quarter worth about $456,000. Cue Financial Group Inc. acquired a new stake in Harris Corporation in the second quarter worth about $477,000. Finally, Vontobel Swiss Wealth Advisors AG increased its position in Harris Corporation by 0.8% in the second quarter. Vontobel Swiss Wealth Advisors AG now owns 17,494 shares of the communications equipment provider’s stock worth $1,908,000 after purchasing an additional 139 shares during the period. 83.84% of the stock is owned by institutional investors.
A number of analysts recently commented on HRS shares. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Cowen and Company reiterated a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a research report on Tuesday, August 1st. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Harris Corporation 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. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $145.00 price objective (up from $135.00) on shares of Harris Corporation in a research 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 company presently has an average rating of “Buy” and an average price target of $145.43.
In other news, SVP Scott T. Mikuen sold 13,600 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the completion of the transaction, the senior vice president now directly owns 61,349 shares in the company, valued at approximately $7,568,012.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.91% of the stock is currently owned by insiders.
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Harris Corporation (NYSE HRS) opened at $142.52 on Thursday. The stock has a market capitalization of $17,164.89, a PE ratio of 25.40, a PEG ratio of 3.43 and a beta of 1.12. Harris Corporation has a 12-month low of $99.13 and a 12-month high of $144.75. The company has a current ratio of 1.11, a quick ratio of 0.64 and a debt-to-equity ratio of 1.14.
Harris Corporation (NYSE:HRS) last posted its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.03. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.44 billion. Harris Corporation had a return on equity of 23.36% and a net margin of 9.02%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 EPS. equities research analysts predict that Harris Corporation will post 5.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.28 annualized dividend and a dividend yield of 1.60%. Harris Corporation’s payout ratio is currently 50.89%.
Harris Corporation Company Profile
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