SG Americas Securities LLC boosted its position in shares of Harris Corporation (NYSE:HRS) by 2,515.7% during the second quarter, Holdings Channel reports. The institutional investor owned 475,954 shares of the communications equipment provider’s stock after buying an additional 457,758 shares during the period. SG Americas Securities LLC’s holdings in Harris Corporation were worth $51,917,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HRS. Trust Co. of Vermont raised its stake in Harris Corporation by 20.6% in the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 157 shares in the last quarter. Ropes Wealth Advisors LLC raised its stake in 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 worth $173,000 after buying an additional 1,032 shares in the last quarter. Ullmann Financial Group Inc. purchased a new stake in Harris Corporation during the first quarter worth about $179,000. Harbour Capital Advisors LLC raised its stake in 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 worth $195,000 after buying an additional 21,076 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. purchased a new stake in Harris Corporation during the first quarter worth about $203,000. Institutional investors own 83.60% of the company’s stock.

Shares of Harris Corporation (NYSE HRS) opened at 119.84 on Tuesday. The stock’s 50 day moving average is $114.25 and its 200-day moving average is $110.78. Harris Corporation has a 52-week low of $88.89 and a 52-week high of $120.29. The firm has a market cap of $14.42 billion, a P/E ratio of 27.02 and a beta of 1.22.

Harris Corporation (NYSE:HRS) last posted its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company earned $1.45 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts anticipate that Harris Corporation will post $6.00 earnings per share for the current fiscal year.

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HRS has been the topic of a number of analyst reports. BidaskClub upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Cowen and Company reiterated a “buy” rating and set a $125.00 price objective on shares of Harris Corporation in a research note on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and set a $135.00 price objective (up previously from $125.00) on shares of Harris Corporation in a research note on Friday, July 14th. ValuEngine upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Barclays PLC lowered shares of Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price objective on the stock. in a research note on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Harris Corporation presently has a consensus rating of “Buy” and a consensus price target of $113.29.

In other news, SVP Robert L. Duffy sold 33,600 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 50,311 shares in the company, valued at $5,635,335.11. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $118.93, for a total value of $484,045.10. Following the transaction, 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. 1.71% of the stock is owned by insiders.

About Harris Corporation

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

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