Stewart West Indies Trading CO. Ltd. Holds Holdings in Harris Corporation (HRS)
Stewart West Indies Trading CO. Ltd. held its stake in Harris Corporation (NYSE:HRS) during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 166,300 shares of the communications equipment provider’s stock at the close of the 2nd quarter. Harris Corporation comprises about 1.6% of Stewart West Indies Trading CO. Ltd.’s holdings, making the stock its 16th largest position. Stewart West Indies Trading CO. Ltd. owned approximately 0.14% of Harris Corporation worth $18,140,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Engineers Gate Manager LP bought a new stake in Harris Corporation during the 2nd quarter valued at $2,342,000. Dimensional Fund Advisors LP raised its holdings in Harris Corporation by 11.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 590,844 shares of the communications equipment provider’s stock valued at $65,744,000 after buying an additional 59,933 shares during the last quarter. Bank of Montreal Can raised its holdings in Harris Corporation by 39.2% during the 2nd quarter. Bank of Montreal Can now owns 122,868 shares of the communications equipment provider’s stock valued at $13,403,000 after buying an additional 34,614 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Harris Corporation during the 2nd quarter valued at $2,368,000. Finally, Principal Financial Group Inc. raised its holdings in Harris Corporation by 90.1% during the 2nd quarter. Principal Financial Group Inc. now owns 675,756 shares of the communications equipment provider’s stock valued at $73,710,000 after buying an additional 320,216 shares during the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.
In related news, SVP Scott T. Mikuen sold 13,600 shares of Harris Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total value of $1,677,696.00. Following the completion of the sale, the senior vice president now directly owns 61,349 shares in the company, valued at $7,568,012.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher D. Young sold 4,070 shares of Harris Corporation 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 completion of 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. Over the last quarter, insiders have sold 72,357 shares of company stock valued at $8,643,111. Corporate insiders own 1.91% of the company’s stock.
Harris Corporation (HRS) traded down 0.07% during midday trading on Friday, reaching $134.70. 82,070 shares of the company were exchanged. The company has a 50-day moving average of $125.79 and a 200 day moving average of $115.30. Harris Corporation has a 52 week low of $88.89 and a 52 week high of $135.00. The firm has a market capitalization of $16.13 billion, a PE ratio of 30.37 and a beta of 1.18.
Harris Corporation (NYSE:HRS) last released its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share for the quarter, hitting the consensus estimate of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the company earned $1.45 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts predict that Harris Corporation will post $6.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.69%. This is an increase from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 7th. Harris Corporation’s dividend payout ratio (DPR) is 51.47%.
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A number of equities research analysts recently commented on HRS shares. Cowen and Company reiterated a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a report on Thursday, July 6th. BidaskClub upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Jefferies Group LLC reiterated a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a report on Friday, July 7th. Finally, Credit Suisse Group AG started coverage on shares of Harris Corporation in a report on Monday, August 28th. They set an “outperform” rating and a $144.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Harris Corporation currently has an average rating of “Buy” and a consensus price target of $121.33.
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