First City Capital Management Inc. held its stake in Harris Corporation (NYSE:HRS) during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,395 shares of the communications equipment provider’s stock at the close of the second quarter. First City Capital Management Inc.’s holdings in Harris Corporation were worth $1,134,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Harris Corporation by 0.9% during the second quarter. Vanguard Group Inc. now owns 13,405,643 shares of the communications equipment provider’s stock worth $1,462,287,000 after acquiring an additional 114,384 shares during the last quarter. BlackRock Inc. grew its position in shares of Harris Corporation by 2.3% during the second quarter. BlackRock Inc. now owns 7,848,843 shares of the communications equipment provider’s stock worth $856,150,000 after acquiring an additional 178,626 shares during the last quarter. State Street Corp grew its position in shares of Harris Corporation by 3.9% during the first quarter. State Street Corp now owns 5,085,846 shares of the communications equipment provider’s stock worth $565,898,000 after acquiring an additional 188,952 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Harris Corporation by 3.1% during the first quarter. Wellington Management Group LLP now owns 2,444,847 shares of the communications equipment provider’s stock worth $272,038,000 after acquiring an additional 74,146 shares during the last quarter. Finally, Janus Capital Management LLC grew its position in shares of Harris Corporation by 253.7% during the first quarter. Janus Capital Management LLC now owns 2,165,991 shares of the communications equipment provider’s stock worth $241,010,000 after acquiring an additional 1,553,628 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

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Shares of Harris Corporation (NYSE HRS) traded up 0.56% during midday trading on Friday, hitting $131.68. The company had a trading volume of 455,310 shares. The company has a market cap of $15.77 billion, a price-to-earnings ratio of 29.68 and a beta of 1.19. The stock’s 50-day moving average price is $120.91 and its 200-day moving average price is $113.51. Harris Corporation has a 12 month low of $88.89 and a 12 month high of $131.90.

Harris Corporation (NYSE:HRS) last issued its quarterly earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the business earned $1.45 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts forecast that Harris Corporation will post $6.01 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 7th. Harris Corporation’s payout ratio is 51.47%.

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

A number of equities analysts have recently issued reports on HRS shares. Zacks Investment Research lowered shares of Harris Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Credit Suisse Group started coverage on shares of Harris Corporation in a research report on Monday, August 28th. They set an “outperform” rating and a $144.00 target price on the stock. Jefferies Group LLC restated a “buy” rating and set a $135.00 target price (up from $125.00) on shares of Harris Corporation in a research report on Friday, July 14th. Cowen and Company restated a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a research report on Thursday, July 6th. Finally, BidaskClub upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $121.57.

About Harris Corporation

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

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