Harris Corporation (HRS) Shares Bought by Amalgamated Bank

Amalgamated Bank increased its holdings in shares of Harris Corporation (NYSE:HRS) by 58.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,916 shares of the communications equipment provider’s stock after buying an additional 5,159 shares during the quarter. Amalgamated Bank’s holdings in Harris Corporation were worth $1,518,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of HRS. BlackRock Inc. raised its stake in Harris Corporation by 3,267.9% during the 1st quarter. BlackRock Inc. now owns 7,670,217 shares of the communications equipment provider’s stock worth $853,463,000 after buying an additional 7,442,472 shares during the period. Janus Capital Management LLC raised its stake in Harris Corporation by 253.7% during the 1st quarter. Janus Capital Management LLC now owns 2,165,991 shares of the communications equipment provider’s stock worth $241,010,000 after buying an additional 1,553,628 shares during the period. Private Advisor Group LLC raised its stake in Harris Corporation by 20,790.1% during the 1st quarter. Private Advisor Group LLC now owns 764,788 shares of the communications equipment provider’s stock worth $9,623,000 after buying an additional 761,127 shares during the period. SG Americas Securities LLC raised its stake in Harris Corporation by 2,515.7% during the 2nd quarter. SG Americas Securities LLC now owns 475,954 shares of the communications equipment provider’s stock worth $51,917,000 after buying an additional 457,758 shares during the period. Finally, FMR LLC raised its stake in Harris Corporation by 38.6% during the 1st quarter. FMR LLC now owns 1,587,040 shares of the communications equipment provider’s stock worth $176,590,000 after buying an additional 441,769 shares during the period. 84.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Harris Corporation (HRS) opened at 131.60 on Thursday. The firm has a market cap of $15.76 billion, a P/E ratio of 29.67 and a beta of 1.19. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $131.63. The firm has a 50 day moving average price of $120.91 and a 200 day moving average price of $113.51.

Harris Corporation (NYSE:HRS) last announced its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share for the quarter, meeting the consensus estimate of $1.49. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business earned $1.45 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Analysts anticipate that Harris Corporation will post $6.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 1.73%. This is a positive change from Harris Corporation’s previous quarterly dividend of $0.53. Harris Corporation’s dividend payout ratio is currently 51.47%.

Several brokerages recently commented on HRS. Jefferies Group LLC reaffirmed a “buy” rating and set a $135.00 price objective on shares of Harris Corporation in a research note on Thursday. Zacks Investment Research raised Harris Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday. Cowen and Company reaffirmed a “buy” rating and set a $134.00 price objective (up previously from $125.00) on shares of Harris Corporation in a research note on Tuesday, September 12th. ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Credit Suisse Group began coverage on Harris Corporation in a research note on Monday, August 28th. They set an “outperform” rating and a $144.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $121.57.

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In other news, insider Christopher D. Young sold 4,070 shares of the company’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 transaction, the insider now owns 46,131 shares in the company, valued at $5,486,359.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 4,387 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $121.70, for a total transaction of $533,897.90. The disclosure for this sale can be found here. Insiders have sold 72,357 shares of company stock worth $8,643,111 in the last quarter. Company insiders own 1.91% of the company’s stock.

About Harris Corporation

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

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