Harris Co. (HRS) Shares Sold by Aviva PLC

Aviva PLC trimmed its position in shares of Harris Co. (NYSE:HRS) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,451 shares of the communications equipment provider’s stock after selling 1,213 shares during the quarter. Aviva PLC owned approximately 0.05% of Harris worth $8,593,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Harris by 14.2% during the first quarter. BlackRock Inc. now owns 9,822,783 shares of the communications equipment provider’s stock worth $1,584,219,000 after purchasing an additional 1,222,155 shares during the period. Boston Partners increased its holdings in Harris by 1.8% during the 1st quarter. Boston Partners now owns 2,703,789 shares of the communications equipment provider’s stock worth $436,067,000 after purchasing an additional 48,666 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Harris by 28.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,165,914 shares of the communications equipment provider’s stock valued at $168,521,000 after acquiring an additional 256,780 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Harris by 43.3% in the 1st quarter. Prudential Financial Inc. now owns 918,747 shares of the communications equipment provider’s stock valued at $148,175,000 after acquiring an additional 277,626 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Harris by 86.0% in the 1st quarter. JPMorgan Chase & Co. now owns 852,437 shares of the communications equipment provider’s stock valued at $137,480,000 after acquiring an additional 394,079 shares during the last quarter. 84.73% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Sheldon J. Fox sold 45,800 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $163.13, for a total transaction of $7,471,354.00. Following the sale, the senior vice president now owns 95,448 shares of the company’s stock, valued at approximately $15,570,432.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.91% of the stock is owned by company insiders.

HRS has been the subject of a number of analyst reports. Argus boosted their price objective on Harris to $190.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Credit Suisse Group boosted their price objective on Harris from $187.00 to $189.00 and gave the stock an “outperform” rating in a research note on Thursday, May 3rd. Zacks Investment Research raised Harris from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Seaport Global Securities reissued a “buy” rating and set a $185.00 price target on shares of Harris in a research report on Thursday, August 2nd. Finally, UBS Group started coverage on Harris in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $175.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Harris presently has a consensus rating of “Buy” and a consensus price target of $173.60.

Shares of HRS traded up $0.04 during mid-day trading on Friday, reaching $162.51. The company had a trading volume of 583,800 shares, compared to its average volume of 747,541. The stock has a market cap of $19.32 billion, a PE ratio of 24.97, a PEG ratio of 3.52 and a beta of 1.22. Harris Co. has a twelve month low of $120.57 and a twelve month high of $170.54. The company has a current ratio of 1.24, a quick ratio of 0.47 and a debt-to-equity ratio of 1.03.

Harris (NYSE:HRS) last released its quarterly earnings results on Tuesday, July 31st. The communications equipment provider reported $1.78 EPS for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.02. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.62 billion. Harris had a return on equity of 25.36% and a net margin of 11.61%. Harris’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.49 EPS. sell-side analysts forecast that Harris Co. will post 7.79 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be given a $0.685 dividend. This is a positive change from Harris’s previous quarterly dividend of $0.57. This represents a $2.74 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 6th. Harris’s dividend payout ratio (DPR) is currently 35.08%.

Harris Profile

Harris Corporation provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, 2-channel vehicular radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.

Further Reading: Market Capitalization in the Stock Market

Institutional Ownership by Quarter for Harris (NYSE:HRS)

Receive News & Ratings for Harris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply