Retirement Systems of Alabama cut its stake in Harris Corporation (NYSE:HRS) by 42.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,109 shares of the communications equipment provider’s stock after selling 43,542 shares during the period. Retirement Systems of Alabama’s holdings in Harris Corporation were worth $6,448,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of HRS. Harwood Advisory Group LLC raised its position in Harris Corporation by 0.5% in the first quarter. Harwood Advisory Group LLC now owns 2,110 shares of the communications equipment provider’s stock valued at $235,000 after buying an additional 10 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Harris Corporation by 5.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,314 shares of the communications equipment provider’s stock valued at $345,000 after buying an additional 165 shares during the last quarter. Nationwide Fund Advisors raised its position in Harris Corporation by 19.2% in the first quarter. Nationwide Fund Advisors now owns 221,059 shares of the communications equipment provider’s stock valued at $24,597,000 after buying an additional 35,590 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its position in Harris Corporation by 3.4% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 25,552 shares of the communications equipment provider’s stock valued at $2,843,000 after buying an additional 850 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Harris Corporation during the first quarter valued at $602,000. Hedge funds and other institutional investors own 83.60% of the company’s stock.

Shares of Harris Corporation (NYSE:HRS) opened at 119.79 on Wednesday. The firm’s 50-day moving average is $114.50 and its 200 day moving average is $110.90. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $120.54. The stock has a market capitalization of $14.41 billion, a P/E ratio of 27.00 and a beta of 1.22.

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

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Several equities analysts recently weighed in on the stock. Jefferies Group LLC increased their price target on shares of Harris Corporation from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, May 4th. Cowen and Company restated a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Harris Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Barclays PLC lowered shares of Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price target for the company. in a research report on Monday, May 1st. Finally, BidaskClub upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Harris Corporation has a consensus rating of “Buy” and an average price target of $113.29.

In other Harris Corporation news, SVP Robert L. Duffy sold 33,600 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was 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 approximately $5,635,335.11. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher D. Young sold 4,070 shares of the business’s stock in a transaction dated 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 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 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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