Eaton Vance Management increased its position in Harris Corp. (NYSE:HRS) by 10.5% during the second quarter, Holdings Channel reports. The fund owned 20,760 shares of the company’s stock after buying an additional 1,978 shares during the period. Eaton Vance Management’s holdings in Harris Corp. were worth $1,732,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Harris Corp. by 220.2% in the first quarter. Wellington Management Group LLP now owns 2,107,804 shares of the company’s stock worth $164,114,000 after buying an additional 1,449,604 shares in the last quarter. Norges Bank purchased a new stake in Harris Corp. during the fourth quarter valued at $111,292,000. Strs Ohio boosted its stake in Harris Corp. by 3,941.8% in the second quarter. Strs Ohio now owns 640,783 shares of the company’s stock valued at $53,466,000 after buying an additional 624,929 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in Harris Corp. during the second quarter valued at $29,783,000. Finally, Calamos Advisors LLC boosted its stake in Harris Corp. by 6,797.5% in the second quarter. Calamos Advisors LLC now owns 270,726 shares of the company’s stock valued at $22,589,000 after buying an additional 266,801 shares during the period. Institutional investors own 88.92% of the company’s stock.
Harris Corp. (NYSE:HRS) opened at 90.88 on Friday. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 35.20 and a beta of 1.30. Harris Corp. has a 52 week low of $70.10 and a 52 week high of $94.09. The firm has a 50-day moving average price of $90.92 and a 200 day moving average price of $83.04.
Harris Corp. (NYSE:HRS) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.01. Harris Corp. had a return on equity of 21.77% and a net margin of 4.34%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the firm posted $1.32 EPS. The company’s revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts forecast that Harris Corp. will post $5.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Friday, September 9th were issued a $0.53 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $2.12 annualized dividend and a dividend yield of 2.33%. This is a boost from Harris Corp.’s previous quarterly dividend of $0.50. Harris Corp.’s dividend payout ratio (DPR) is presently 82.49%.
Several research firms have recently weighed in on HRS. Zacks Investment Research upgraded Harris Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 19th. JPMorgan Chase & Co. set a $93.00 price target on Harris Corp. and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Jefferies Group restated a “buy” rating on shares of Harris Corp. in a report on Friday, June 10th. Citigroup Inc. reduced their price target on Harris Corp. from $112.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, September 6th. Finally, Drexel Hamilton restated a “buy” rating on shares of Harris Corp. in a report on Friday, June 17th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Harris Corp. has an average rating of “Buy” and a consensus target price of $98.29.
In other Harris Corp. news, insider William H. Gattle sold 1,366 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $93.75, for a total value of $128,062.50. Following the sale, the insider now owns 4,851 shares of the company’s stock, valued at approximately $454,781.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 9,400 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $88.00, for a total value of $827,200.00. Following the completion of the sale, the senior vice president now directly owns 49,277 shares in the company, valued at approximately $4,336,376. The disclosure for this sale can be found here. 1.71% of the stock is owned by company insiders.
About Harris Corp.
Harris Corporation (Harris) together with its subsidiaries is engaged in providing technology-based solutions to government and commercial customers. As of July 3, 2015, the Company operated through four business segments: RF Communications, Government Communications Systems, Integrated Network Solutions and Exelis.
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