Norinchukin Bank The grew its holdings in Harris Co. (NYSE:HRS) by 6.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,869 shares of the communications equipment provider’s stock after buying an additional 614 shares during the period. Norinchukin Bank The’s holdings in Harris were worth $1,398,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. BlackRock Inc. grew its stake in shares of Harris by 9.6% in the 4th quarter. BlackRock Inc. now owns 8,600,628 shares of the communications equipment provider’s stock worth $1,218,281,000 after buying an additional 751,366 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Harris by 36.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,352,336 shares of the communications equipment provider’s stock worth $441,435,000 after buying an additional 892,898 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Harris by 11.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,916,965 shares of the communications equipment provider’s stock worth $252,426,000 after buying an additional 192,230 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Harris by 6.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,890,447 shares of the communications equipment provider’s stock worth $248,935,000 after buying an additional 122,090 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Harris by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 699,934 shares of the communications equipment provider’s stock worth $92,165,000 after buying an additional 5,856 shares in the last quarter. 84.10% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Sheldon J. Fox sold 8,682 shares of Harris stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $156.00, for a total transaction of $1,354,392.00. Following the completion of the sale, the senior vice president now owns 53,724 shares in the company, valued at approximately $8,380,944. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.91% of the company’s stock.
A number of equities analysts have commented on HRS shares. Cowen reaffirmed a “buy” rating and set a $150.00 price target on shares of Harris in a research note on Tuesday, October 31st. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. lifted their price target on shares of Harris from $138.00 to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Credit Suisse Group lifted their price target on shares of Harris from $167.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Jefferies Group lifted their price target on shares of Harris from $135.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $154.57.
Harris Co. (HRS) opened at $158.80 on Friday. Harris Co. has a 52 week low of $106.18 and a 52 week high of $161.04. The company has a current ratio of 1.22, a quick ratio of 0.68 and a debt-to-equity ratio of 1.13. The company has a market cap of $18,854.32, a PE ratio of 37.54, a P/E/G ratio of 4.09 and a beta of 1.29.
Harris (NYSE:HRS) last released its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.28. Harris had a net margin of 8.63% and a return on equity of 24.49%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the company earned $1.38 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. analysts predict that Harris Co. will post 6.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Thursday, March 8th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.44%. Harris’s payout ratio is 53.90%.
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Harris Company Profile
Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless and technology, among others, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services.
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