Harris Corporation (NYSE:HRS) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in Harris Corporation (NYSE:HRS) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 699,934 shares of the communications equipment provider’s stock after buying an additional 5,856 shares during the quarter. Dimensional Fund Advisors LP owned about 0.59% of Harris worth $92,165,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Prudential PLC grew its position in shares of Harris by 25.5% in the 2nd quarter. Prudential PLC now owns 81,028 shares of the communications equipment provider’s stock worth $8,839,000 after buying an additional 16,476 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Harris in the 2nd quarter valued at approximately $2,342,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Harris in the 2nd quarter valued at approximately $2,368,000. Principal Financial Group Inc. lifted its stake in shares of Harris 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 purchasing an additional 320,216 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of Harris by 58.9% in the 2nd quarter. Amalgamated Bank now owns 13,916 shares of the communications equipment provider’s stock valued at $1,518,000 after purchasing an additional 5,159 shares during the period. Hedge funds and other institutional investors own 84.28% of the company’s stock.

Shares of Harris Corporation (HRS) traded up $1.91 during trading hours on Friday, reaching $147.21. The company’s stock had a trading volume of 565,500 shares, compared to its average volume of 686,678. The stock has a market capitalization of $17,550.00, a PE ratio of 27.52, a price-to-earnings-growth ratio of 4.04 and a beta of 1.13. Harris Corporation has a 1-year low of $99.13 and a 1-year high of $147.33. The company has a quick ratio of 0.64, a current ratio of 1.11 and a debt-to-equity ratio of 1.14.

Harris (NYSE:HRS) last posted its quarterly earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.03. Harris had a return on equity of 23.36% and a net margin of 9.02%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business earned $1.28 earnings per share. 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.

A number of research analysts have recently commented on the company. Jefferies Group restated a “buy” rating and issued a $135.00 target price on shares of Harris in a research note on Thursday, September 21st. ValuEngine upgraded Harris from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. JPMorgan Chase & Co. raised their target price on Harris from $138.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Cowen restated a “buy” rating and issued a $134.00 target price on shares of Harris in a research note on Monday, October 2nd. Finally, Zacks Investment Research cut Harris from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $145.43.

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About Harris

Institutional Ownership by Quarter for Harris (NYSE:HRS)

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