Exxonmobil Investment Management Inc. TX lowered its position in shares of Harris Corporation (NYSE:HRS) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,953 shares of the communications equipment provider’s stock after selling 2,917 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Harris were worth $2,685,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in HRS. BB&T Investment Services Inc. purchased a new position in Harris during the 2nd quarter worth $113,000. Northwestern Mutual Wealth Management Co. raised its position in Harris by 110.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock worth $131,000 after buying an additional 632 shares during the last quarter. BT Investment Management Ltd purchased a new position in Harris during the 2nd quarter worth $157,000. Stephens Inc. AR purchased a new position in Harris during the 2nd quarter worth $167,000. Finally, Ropes Wealth Advisors LLC raised its position in Harris by 5.4% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock worth $178,000 after buying an additional 84 shares during the last quarter. Institutional investors own 84.28% of the company’s stock.
Harris Corporation (HRS) opened at $147.21 on Friday. 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 12 month low of $99.13 and a 12 month high of $147.33. The firm has a market cap of $17,550.00, a price-to-earnings ratio of 27.52, a PEG ratio of 4.04 and a beta of 1.13.
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 Zacks’ consensus estimate of $1.35 by $0.03. Harris had a net margin of 9.02% and a return on equity of 23.36%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the company posted $1.28 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. research analysts predict that Harris Corporation will post 5.99 earnings per share for the current year.
A number of equities analysts have commented on HRS shares. ValuEngine upgraded shares of Harris from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Jefferies Group reaffirmed a “buy” rating and set a $135.00 price target on shares of Harris in a research note on Thursday, September 21st. Cowen reaffirmed a “buy” rating and set a $134.00 price target on shares of Harris in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Harris from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research note on Monday, October 16th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $145.00 price target (up from $135.00) on shares of Harris in a research note on Monday, October 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $145.43.
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