Intrust Bank NA lowered its stake in shares of Harris Corporation (NYSE:HRS) by 7.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,319 shares of the communications equipment provider’s stock after selling 177 shares during the period. Intrust Bank NA’s holdings in Harris Corporation were worth $253,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HRS. Trust Co. of Vermont boosted its stake in shares of Harris Corporation by 20.6% in the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 157 shares in the last quarter. Ropes Wealth Advisors LLC boosted its stake in shares of Harris Corporation by 198.8% in the first quarter. Ropes Wealth Advisors LLC now owns 1,551 shares of the communications equipment provider’s stock valued at $173,000 after buying an additional 1,032 shares in the last quarter. Ullmann Financial Group Inc. bought a new stake in shares of Harris Corporation during the first quarter valued at $179,000. Harbour Capital Advisors LLC boosted its stake in shares of Harris Corporation by 10,808.2% in the second quarter. Harbour Capital Advisors LLC now owns 21,271 shares of the communications equipment provider’s stock valued at $195,000 after buying an additional 21,076 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. bought a new stake in shares of Harris Corporation during the first quarter valued at $203,000. Institutional investors own 83.35% of the company’s stock.

Shares of Harris Corporation (HRS) opened at 122.34 on Thursday. The firm has a 50-day moving average price of $116.47 and a 200 day moving average price of $111.69. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $122.39. The stock has a market cap of $14.72 billion, a PE ratio of 27.58 and a beta of 1.22.

Harris Corporation (NYSE:HRS) last announced its quarterly earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, hitting 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 net margin of 8.53% and a return on equity of 23.49%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.45 EPS. Equities research analysts expect that Harris Corporation will post $6.01 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.86%. This is an increase from Harris Corporation’s previous quarterly dividend of $0.53. Harris Corporation’s dividend payout ratio (DPR) is currently 47.86%.

WARNING: This article was first published by Watch List News and is the property of of Watch List News. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://www.watchlistnews.com/intrust-bank-na-has-253000-position-in-harris-corporation-hrs/1533575.html.

Several equities research analysts have weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 price objective (up previously from $125.00) on shares of Harris Corporation in a report on Friday, July 14th. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Cowen and Company reiterated a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a report on Thursday, July 6th. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded Harris Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $117.13.

In related news, insider Christopher D. Young sold 4,070 shares of Harris Corporation 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 in the company, valued at approximately $5,486,359.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sheldon J. Fox sold 50,300 shares of Harris Corporation stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the completion of the sale, the senior vice president now owns 73,092 shares of the company’s stock, valued at approximately $8,642,398.08. The disclosure for this sale can be found here. 1.71% of the stock is owned by company insiders.

About Harris Corporation

Want to see what other hedge funds are holding HRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harris Corporation (NYSE:HRS).

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

Receive News & Ratings for Harris Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.