FIL Ltd trimmed its position in shares of Harris Corporation (NYSE:HRS) by 43.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,569 shares of the communications equipment provider’s stock after selling 269,062 shares during the quarter. FIL Ltd owned approximately 0.29% of Harris Corporation worth $38,131,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Harris Corporation by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 13,405,643 shares of the communications equipment provider’s stock valued at $1,462,287,000 after purchasing an additional 114,384 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Harris Corporation by 2.3% during the 2nd quarter. BlackRock Inc. now owns 7,848,843 shares of the communications equipment provider’s stock valued at $856,150,000 after purchasing an additional 178,626 shares in the last quarter. State Street Corp increased its holdings in shares of Harris Corporation by 3.9% during the 1st quarter. State Street Corp now owns 5,085,846 shares of the communications equipment provider’s stock valued at $565,898,000 after purchasing an additional 188,952 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Harris Corporation by 3.1% during the 1st quarter. Wellington Management Group LLP now owns 2,444,847 shares of the communications equipment provider’s stock valued at $272,038,000 after purchasing an additional 74,146 shares in the last quarter. Finally, Janus Capital Management LLC increased its holdings in shares of Harris Corporation by 253.7% during the 1st quarter. Janus Capital Management LLC now owns 2,165,991 shares of the communications equipment provider’s stock valued at $241,010,000 after purchasing an additional 1,553,628 shares in the last quarter. 84.99% of the stock is owned by hedge funds and other institutional investors.

Shares of Harris Corporation (HRS) opened at 131.80 on Friday. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $131.89. The company has a 50-day moving average of $120.91 and a 200-day moving average of $113.51. The firm has a market cap of $15.78 billion, a PE ratio of 29.71 and a beta of 1.19.

Harris Corporation (NYSE:HRS) last released its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.49. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. Harris Corporation’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.45 earnings per share. Analysts predict that Harris Corporation will post $6.01 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a $0.57 dividend. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 7th. This represents a $2.28 annualized dividend and a yield of 1.73%. Harris Corporation’s dividend payout ratio is presently 51.47%.

COPYRIGHT VIOLATION WARNING: This story was reported by Watch List News and is the property of of Watch List News. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://www.watchlistnews.com/fil-ltd-sells-269062-shares-of-harris-corporation-hrs/1582844.html.

In other Harris Corporation news, SVP Sheldon J. Fox sold 50,300 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 73,092 shares in the company, valued at $8,642,398.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher D. Young sold 4,070 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $118.93, for a total value of $484,045.10. Following the completion of the transaction, the insider now owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The disclosure for this sale can be found here. Insiders sold 72,357 shares of company stock valued at $8,643,111 in the last quarter. 1.91% of the stock is currently owned by company insiders.

HRS has been the subject of several recent research reports. ValuEngine raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $135.00 target price (up from $125.00) on shares of Harris Corporation in a report on Friday, July 14th. BidaskClub raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Harris Corporation has a consensus rating of “Buy” and an average target price of $121.57.

Harris Corporation Profile

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

Receive News & Ratings for Harris Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.