Richard C. Young & CO. LTD. Has $16.50 Million Holdings in Harris Corporation (HRS)
Richard C. Young & CO. LTD. grew its stake in Harris Corporation (NYSE:HRS) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,323 shares of the communications equipment provider’s stock after purchasing an additional 1,059 shares during the period. Harris comprises about 3.1% of Richard C. Young & CO. LTD.’s investment portfolio, making the stock its 4th biggest position. Richard C. Young & CO. LTD. owned about 0.11% of Harris worth $16,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of HRS. Aperio Group LLC grew its position in Harris by 32.3% in the 2nd quarter. Aperio Group LLC now owns 49,261 shares of the communications equipment provider’s stock worth $5,373,000 after purchasing an additional 12,019 shares during the last quarter. Breton Hill Capital Ltd. bought a new position in Harris during the 2nd quarter valued at about $456,000. Acadian Asset Management LLC lifted its holdings in Harris by 15,226.4% during the 2nd quarter. Acadian Asset Management LLC now owns 44,140 shares of the communications equipment provider’s stock valued at $4,815,000 after purchasing an additional 43,852 shares during the last quarter. Park Avenue Securities LLC bought a new position in Harris during the 2nd quarter valued at about $303,000. Finally, Harbour Capital Advisors LLC lifted its holdings in Harris by 10,808.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 21,271 shares of the communications equipment provider’s stock valued at $195,000 after purchasing an additional 21,076 shares during the last quarter. Institutional investors own 83.84% of the company’s stock.
Harris Corporation (NYSE:HRS) opened at $143.94 on Monday. Harris Corporation has a 12 month low of $99.13 and a 12 month high of $144.75. The firm has a market cap of $17,160.00, a PE ratio of 25.39, a price-to-earnings-growth ratio of 3.43 and a beta of 1.12. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.11 and a quick ratio of 0.64.
Harris (NYSE:HRS) last announced its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.03. Harris had a net margin of 9.02% and a return on equity of 23.36%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm posted $1.28 earnings per share. The company’s revenue was down .5% on a year-over-year basis. sell-side analysts anticipate that Harris Corporation will post 5.99 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Thursday, November 16th. Harris’s dividend payout ratio is presently 42.62%.
Several brokerages recently issued reports on HRS. Jefferies Group LLC reissued a “buy” rating and set a $135.00 price target on shares of Harris in a report on Thursday, September 21st. J P Morgan Chase & Co lifted their price target on shares of Harris from $138.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Cowen Inc reissued a “buy” rating and set a $125.00 price target on shares of Harris in a report on Tuesday, August 1st. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub raised shares of Harris from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $145.43.
In related news, SVP Scott T. Mikuen sold 13,600 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the completion of the sale, the senior vice president now directly owns 61,349 shares of the company’s stock, valued at $7,568,012.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Scott T. Mikuen sold 4,387 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $121.70, for a total transaction of $533,897.90. The disclosure for this sale can be found here. Insiders own 1.91% of the company’s stock.
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