Sumitomo Mitsui Asset Management Company LTD lowered its stake in Harris Corporation (NYSE:HRS) by 7.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,076 shares of the communications equipment provider’s stock after selling 678 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Harris Corporation were worth $1,195,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in HRS. Capital Research Global Investors acquired a new stake in Harris Corporation in the 2nd quarter valued at $304,508,000. Janus Henderson Group PLC grew its stake in Harris Corporation by 12,337.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,459,438 shares of the communications equipment provider’s stock valued at $268,276,000 after acquiring an additional 2,439,664 shares during the period. Koch Industries Inc. acquired a new stake in Harris Corporation in the 2nd quarter valued at $612,000. SG Americas Securities LLC grew its stake in Harris Corporation by 2,515.7% in the 2nd quarter. SG Americas Securities LLC now owns 475,954 shares of the communications equipment provider’s stock valued at $51,917,000 after acquiring an additional 457,758 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Harris Corporation by 90.1% in 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 acquiring an additional 320,216 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Harris Corporation (NYSE:HRS) opened at $139.41 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 1.11. The stock has a market cap of $16,617.76, a PE ratio of 24.59, a price-to-earnings-growth ratio of 3.32 and a beta of 1.12. Harris Corporation has a one year low of $92.35 and a one year high of $141.97.

Harris Corporation (NYSE:HRS) last issued its quarterly earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.03. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. Harris Corporation had a net margin of 9.02% and a return on equity of 23.36%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. sell-side analysts anticipate that Harris Corporation will post 5.99 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a yield of 1.64%. Harris Corporation’s dividend payout ratio (DPR) is presently 50.89%.

In other Harris Corporation news, 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 transaction of $484,045.10. Following the sale, the insider now directly owns 46,131 shares in the company, valued at $5,486,359.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott T. Mikuen sold 13,600 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the sale, the senior vice president now owns 61,349 shares in the company, valued at $7,568,012.64. The disclosure for this sale can be found here. Insiders have sold 72,357 shares of company stock worth $8,643,111 over the last quarter. Insiders own 1.91% of the company’s stock.

Several brokerages have issued reports on HRS. BidaskClub cut shares of Harris Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Cowen and Company reaffirmed a “buy” rating and set a $134.00 target price (up previously from $125.00) on shares of Harris Corporation in a research note on Tuesday, September 12th. ValuEngine cut shares of Harris Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Harris Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Finally, Jefferies Group LLC lifted their target price on shares of Harris Corporation from $135.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Harris Corporation currently has a consensus rating of “Buy” and an average target price of $145.43.

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Harris Corporation Company Profile

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

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