First Trust Advisors LP trimmed its holdings in Harris Corporation (NYSE:HRS) by 75.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,358 shares of the communications equipment provider’s stock after selling 136,359 shares during the quarter. First Trust Advisors LP’s holdings in Harris Corporation were worth $5,841,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Harris Corporation by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 13,405,643 shares of the communications equipment provider’s stock worth $1,462,287,000 after purchasing an additional 114,384 shares during the period. BlackRock Inc. boosted its stake in Harris Corporation by 2.3% in the 2nd quarter. BlackRock Inc. now owns 7,848,843 shares of the communications equipment provider’s stock worth $856,150,000 after purchasing an additional 178,626 shares during the period. Capital Research Global Investors bought a new position in Harris Corporation in the 2nd quarter worth approximately $304,508,000. Janus Henderson Group PLC boosted its stake in Harris Corporation by 12,337.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,459,438 shares of the communications equipment provider’s stock worth $268,276,000 after purchasing an additional 2,439,664 shares during the period. Finally, Burgundy Asset Management Ltd. boosted its stake in Harris Corporation by 1.6% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,287,891 shares of the communications equipment provider’s stock worth $140,483,000 after purchasing an additional 20,765 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

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Harris Corporation (NYSE:HRS) opened at $138.97 on Thursday. The company has a market capitalization of $16,609.41, a P/E ratio of 24.58, a PEG ratio of 3.32 and a beta of 1.12. Harris Corporation has a 52-week low of $99.13 and a 52-week high of $141.97. 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 issued its quarterly earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.44 billion. Harris Corporation had a return on equity of 23.36% and a net margin of 9.02%. Harris Corporation’s revenue was down .5% on a year-over-year basis. During the same period last year, the company earned $1.28 earnings per share. sell-side analysts predict that Harris Corporation will post 5.99 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a yield of 1.64%. Harris Corporation’s dividend payout ratio is presently 50.89%.

A number of research analysts have recently commented on HRS shares. Credit Suisse Group started coverage on Harris Corporation in a research report on Monday, August 28th. They set an “outperform” rating and a $144.00 target price for the company. Cowen and Company reiterated a “buy” rating and set a $134.00 target price (up from $125.00) on shares of Harris Corporation in a research report on Tuesday, September 12th. Zacks Investment Research upgraded Harris Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price for the company in a research report on Monday, October 16th. Seaport Global Securities reiterated a “buy” rating and set a $145.00 target price (up from $135.00) on shares of Harris Corporation in a research report on Monday, October 9th. Finally, BidaskClub downgraded Harris Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $145.43.

In related news, SVP Sheldon J. Fox sold 50,300 shares of the firm’s 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 sale, the senior vice president now directly owns 73,092 shares in the company, valued at $8,642,398.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 13,600 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 61,349 shares of the company’s stock, valued at $7,568,012.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,287 shares of company stock valued at $8,159,066. 1.91% of the stock is owned by corporate insiders.

Harris Corporation Profile

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

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