Flinton Capital Management LLC Has $4.81 Million Position in Harris Corporation (HRS)
Flinton Capital Management LLC boosted its position in shares of Harris Corporation (NYSE:HRS) by 30.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,100 shares of the communications equipment provider’s stock after acquiring an additional 10,360 shares during the period. Flinton Capital Management LLC’s holdings in Harris Corporation were worth $4,810,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Trust Co. of Vermont grew its holdings in Harris Corporation by 20.6% in the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock worth $100,000 after purchasing an additional 157 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Harris Corporation by 110.3% during 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 purchasing an additional 632 shares during the last quarter. BT Investment Management Ltd purchased a new stake in shares of Harris Corporation during the 2nd quarter valued at $157,000. Stephens Inc. AR acquired a new stake in shares of Harris Corporation in the 2nd quarter worth $167,000. Finally, Ropes Wealth Advisors LLC boosted its position in shares of Harris Corporation by 5.4% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock worth $178,000 after purchasing an additional 84 shares in the last quarter. 84.99% of the stock is owned by institutional investors.
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HRS has been the topic of several research analyst reports. Jefferies Group LLC restated a “buy” rating and set a $135.00 target price on shares of Harris Corporation in a research note on Thursday, September 21st. Cowen and Company reiterated a “buy” rating and issued a $125.00 price target on shares of Harris Corporation in a research note on Tuesday, August 1st. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded Harris Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $121.57.
Shares of Harris Corporation (NYSE:HRS) traded down 0.10% during trading on Wednesday, reaching $133.18. 63,840 shares of the company traded hands. The company has a market capitalization of $15.95 billion, a price-to-earnings ratio of 30.02 and a beta of 1.18. The stock’s 50 day moving average is $124.97 and its 200 day moving average is $115.03. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $133.80.
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, meeting the consensus estimate of $1.49. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. Harris Corporation’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 earnings per share. On average, analysts forecast that Harris Corporation will post $6.01 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.71%. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. Harris Corporation’s payout ratio is 51.47%.
In related news, insider Christopher D. Young sold 4,070 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $118.93, for a total transaction of $484,045.10. Following the transaction, the insider now owns 46,131 shares in the company, valued at approximately $5,486,359.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott T. Mikuen sold 13,600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total value of $1,677,696.00. Following the transaction, the senior vice president now owns 61,349 shares in the company, valued at approximately $7,568,012.64. 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 three months. Company insiders own 1.91% of the company’s stock.
About Harris Corporation
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