Vontobel Swiss Wealth Advisors AG boosted its stake in shares of Harris Corporation (NYSE:HRS) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,261 shares of the communications equipment provider’s stock after purchasing an additional 767 shares during the quarter. Harris Corporation accounts for approximately 1.5% of Vontobel Swiss Wealth Advisors AG’s holdings, making the stock its 18th biggest position. Vontobel Swiss Wealth Advisors AG’s holdings in Harris Corporation were worth $2,405,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in HRS. Prudential PLC raised its stake in shares of Harris Corporation by 25.5% in the 2nd quarter. Prudential PLC now owns 81,028 shares of the communications equipment provider’s stock valued at $8,839,000 after buying an additional 16,476 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Harris Corporation in the 2nd quarter valued at $2,342,000. Bank of Montreal Can raised its stake in shares of Harris Corporation by 39.2% in 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 in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Harris Corporation in the 2nd quarter valued at $2,368,000. Finally, Principal Financial Group Inc. raised its stake in shares of 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 buying an additional 320,216 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.
HRS has been the subject of a number of recent research reports. ValuEngine upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Harris Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Credit Suisse Group initiated coverage on shares of Harris Corporation in a research note on Monday, August 28th. They issued an “outperform” rating and a $144.00 price objective for the company. J P Morgan Chase & Co upped their target price on shares of Harris Corporation from $138.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Finally, BidaskClub raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $145.43.
Harris Corporation (NYSE HRS) traded up $0.21 on Tuesday, hitting $138.97. 392,200 shares of the stock traded hands, compared to its average volume of 751,616. The company has a current ratio of 1.11, a quick ratio of 0.64 and a debt-to-equity ratio of 1.14. Harris Corporation has a fifty-two week low of $99.13 and a fifty-two week high of $141.97. The company has a market cap of $16,540.28, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 3.31 and a beta of 1.12.
Harris Corporation (NYSE:HRS) last issued its quarterly earnings data on Tuesday, October 31st. The communications equipment provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Harris Corporation had a net margin of 9.02% and a return on equity of 23.36%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The company’s revenue was down .5% on a year-over-year basis. sell-side analysts predict that Harris Corporation will post 5.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, November 16th. Harris Corporation’s dividend payout ratio is currently 50.89%.
In other Harris Corporation news, SVP Scott T. Mikuen sold 13,600 shares of the stock in a transaction dated Tuesday, September 12th. The shares were 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 of the company’s stock, valued at approximately $7,568,012.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott T. Mikuen sold 4,387 shares of the stock in a transaction dated Friday, September 8th. The stock was 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. In the last three months, insiders have sold 68,287 shares of company stock worth $8,159,066. Insiders own 1.91% of the company’s stock.
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About Harris Corporation
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