LMR Partners LLP raised its position in shares of Harris Corp. (NYSE:HRS) by 179.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,705 shares of the company’s stock after buying an additional 16,505 shares during the period. LMR Partners LLP’s holdings in Harris Corp. were worth $2,145,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Huntington National Bank increased its stake in shares of Harris Corp. by 24.1% in the second quarter. Huntington National Bank now owns 1,702 shares of the company’s stock worth $142,000 after buying an additional 330 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Harris Corp. by 4.6% in the second quarter. Advisory Services Network LLC now owns 5,258 shares of the company’s stock worth $439,000 after buying an additional 231 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Harris Corp. during the second quarter worth about $29,783,000. Calamos Advisors LLC increased its stake in shares of Harris Corp. by 6,797.5% in the second quarter. Calamos Advisors LLC now owns 270,726 shares of the company’s stock worth $22,589,000 after buying an additional 266,801 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Harris Corp. during the second quarter worth about $3,375,000. Institutional investors and hedge funds own 88.92% of the company’s stock.
Shares of Harris Corp. (NYSE:HRS) traded up 0.53% during trading on Thursday, reaching $92.28. 400,884 shares of the company’s stock traded hands. Harris Corp. has a 1-year low of $70.97 and a 1-year high of $94.09. The stock has a 50-day moving average of $91.28 and a 200-day moving average of $83.78. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 35.74 and a beta of 1.22.
Harris Corp. (NYSE:HRS) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. The business earned $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Harris Corp. had a net margin of 4.34% and a return on equity of 21.77%. The company’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.32 earnings per share. On average, equities analysts predict that Harris Corp. will post $5.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Friday, September 9th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Wednesday, September 7th. This is a positive change from Harris Corp.’s previous quarterly dividend of $0.50. Harris Corp.’s payout ratio is currently 82.49%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Harris Corp. from a “hold” rating to a “sell” rating in a report on Tuesday. Citigroup Inc. lowered their price objective on shares of Harris Corp. from $112.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, September 6th. JPMorgan Chase & Co. set a $93.00 price objective on shares of Harris Corp. and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Jefferies Group reaffirmed a “buy” rating and set a $100.00 price objective (up previously from $95.00) on shares of Harris Corp. in a research report on Wednesday, August 3rd. Finally, Drexel Hamilton reaffirmed a “buy” rating on shares of Harris Corp. in a research report on Friday, June 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. Harris Corp. has a consensus rating of “Buy” and a consensus target price of $98.29.
In other news, SVP Sheldon J. Fox sold 17,700 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $88.02, for a total value of $1,557,954.00. Following the completion of the transaction, the senior vice president now owns 62,060 shares of the company’s stock, valued at $5,462,521.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Dana A. Mehnert sold 27,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $88.02, for a total transaction of $2,376,540.00. Following the completion of the transaction, the senior vice president now directly owns 89,492 shares of the company’s stock, valued at approximately $7,877,085.84. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by insiders.
Harris Corp. Company Profile
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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