Southport Management L.L.C. trimmed its position in Harris Corporation (NYSE:HRS) by 18.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the communications equipment provider’s stock after selling 4,500 shares during the quarter. Harris comprises approximately 7.0% of Southport Management L.L.C.’s holdings, making the stock its 3rd biggest position. Southport Management L.L.C.’s holdings in Harris were worth $2,634,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors purchased a new stake in Harris during the 2nd quarter valued at approximately $304,508,000. Janus Henderson Group PLC grew its holdings in Harris by 12,337.7% during 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 buying an additional 2,439,664 shares in the last quarter. Koch Industries Inc. purchased a new stake in Harris during the 2nd quarter valued at approximately $612,000. SG Americas Securities LLC grew its holdings in Harris by 2,515.7% during 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 buying an additional 457,758 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Harris by 90.1% during 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. 84.41% of the stock is owned by institutional investors.
In other Harris news, SVP Scott T. Mikuen sold 13,600 shares of Harris stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total value of $1,677,696.00. Following the transaction, the senior vice president now owns 61,349 shares in the company, valued at $7,568,012.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.91% of the stock is owned by insiders.
Shares of Harris Corporation (NYSE:HRS) traded down $0.06 during trading on Thursday, hitting $142.52. The stock had a trading volume of 428,000 shares, compared to its average volume of 748,251. The stock has a market capitalization of $16,990.00, a price-to-earnings ratio of 25.15, a P/E/G ratio of 3.40 and a beta of 1.12. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 1.11. Harris Corporation has a 1 year low of $99.13 and a 1 year high of $144.94.
Harris (NYSE:HRS) last announced its quarterly earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.35 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. Harris had a return on equity of 23.36% and a net margin of 9.02%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 earnings per share. research analysts forecast that Harris Corporation will post 5.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.28 annualized dividend and a dividend yield of 1.60%. Harris’s dividend payout ratio is currently 42.62%.
HRS has been the subject of a number of research reports. Zacks Investment Research upgraded Harris from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Seaport Global Securities reiterated a “buy” rating and set a $145.00 target price (up from $135.00) on shares of Harris in a research report on Monday, October 9th. Credit Suisse Group reiterated an “outperform” rating and set a $155.00 target price (up from $144.00) on shares of Harris in a research report on Wednesday, November 1st. They noted that the move was a valuation call. Cowen reiterated a “buy” rating and set a $150.00 target price on shares of Harris in a research report on Tuesday, October 31st. Finally, Jefferies Group raised their price target on Harris from $135.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Harris currently has an average rating of “Buy” and an average target price of $145.43.
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Harris Company Profile
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