Daiwa Securities Group Inc. decreased its stake in shares of Harris Corporation (NYSE:HRS) by 44.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,800 shares of the communications equipment provider’s stock after selling 4,650 shares during the period. Daiwa Securities Group Inc.’s holdings in Harris Corporation were worth $633,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in HRS. Vanguard Group Inc. increased its stake in shares of Harris Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,291,259 shares of the communications equipment provider’s stock valued at $1,478,919,000 after buying an additional 379,265 shares during the period. BlackRock Inc. increased its stake in shares of Harris Corporation by 3,267.9% in the first quarter. BlackRock Inc. now owns 7,670,217 shares of the communications equipment provider’s stock valued at $853,463,000 after buying an additional 7,442,472 shares during the period. Boston Partners increased its stake in shares of Harris Corporation by 0.7% in the first quarter. Boston Partners now owns 7,185,264 shares of the communications equipment provider’s stock valued at $799,505,000 after buying an additional 51,634 shares during the period. State Street Corp increased its stake in shares of Harris Corporation by 3.9% in the first quarter. State Street Corp now owns 5,085,846 shares of the communications equipment provider’s stock valued at $565,898,000 after buying an additional 188,952 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Harris Corporation by 3.1% in the first quarter. Wellington Management Group LLP now owns 2,444,847 shares of the communications equipment provider’s stock valued at $272,038,000 after buying an additional 74,146 shares during the period. 85.13% of the stock is currently owned by institutional investors.

Harris Corporation (HRS) opened at 118.37 on Friday. The firm has a market capitalization of $14.24 billion, a P/E ratio of 26.68 and a beta of 1.22. The stock has a 50 day moving average of $114.00 and a 200-day moving average of $110.51. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $119.07.

Harris Corporation (NYSE:HRS) last posted its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, meeting the consensus estimate of $1.49. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 EPS. On average, equities research analysts anticipate that Harris Corporation will post $6.00 earnings per share for the current year.

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Several analysts have issued reports on HRS shares. Cowen and Company reissued a “buy” rating and set a $125.00 target price on shares of Harris Corporation in a research note on Thursday, July 6th. BidaskClub raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. ValuEngine raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Harris Corporation in a research note on Friday, July 7th. Finally, Zacks Investment Research downgraded shares of Harris Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $113.29.

In related news, insider Christopher D. Young sold 4,070 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert L. Duffy sold 33,600 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $112.01, for a total transaction of $3,763,536.00. Following the completion of the sale, the senior vice president now directly owns 50,311 shares in the company, valued at $5,635,335.11. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

About Harris Corporation

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

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