Exxonmobil Investment Management Inc. TX Lowers Position in Harris Corporation (HRS)
Exxonmobil Investment Management Inc. TX trimmed its holdings in Harris Corporation (NYSE:HRS) by 13.3% during the fourth quarter, Holdings Channel reports. The fund owned 18,953 shares of the communications equipment provider’s stock after selling 2,917 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Harris were worth $2,685,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. BB&T Investment Services Inc. acquired a new stake in Harris in the 2nd quarter valued at about $113,000. Northwestern Mutual Wealth Management Co. grew its stake in Harris by 110.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock valued at $131,000 after acquiring an additional 632 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Harris in the 2nd quarter valued at about $157,000. Stephens Inc. AR acquired a new stake in Harris in the 2nd quarter valued at about $167,000. Finally, Ropes Wealth Advisors LLC grew its stake in Harris by 5.4% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock valued at $178,000 after acquiring an additional 84 shares during the last quarter. 84.28% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on HRS shares. Zacks Investment Research raised shares of Harris from a “sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Jefferies Group reissued a “buy” rating and issued a $135.00 price objective on shares of Harris in a research note on Thursday, September 21st. ValuEngine cut shares of Harris from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Cowen reaffirmed a “buy” rating and set a $134.00 price target on shares of Harris in a research note on Monday, October 2nd. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $145.00 price target (up from $135.00) on shares of Harris in a research note on Monday, October 9th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Harris currently has an average rating of “Buy” and a consensus target price of $145.43.
Shares of Harris Corporation (NYSE HRS) opened at $147.21 on Friday. Harris Corporation has a 12 month low of $99.13 and a 12 month high of $147.33. The stock has a market cap of $17,550.00, a PE ratio of 27.52, a price-to-earnings-growth ratio of 4.04 and a beta of 1.13. 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 (NYSE:HRS) last released its quarterly 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. Harris had a net margin of 9.02% and a return on equity of 23.36%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the company earned $1.28 EPS. The firm’s revenue for the quarter 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 fiscal year.
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