Harris Co. (NYSE:HRS) Position Boosted by Calamos Advisors LLC

Calamos Advisors LLC lifted its position in shares of Harris Co. (NYSE:HRS) by 0.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 237,732 shares of the communications equipment provider’s stock after buying an additional 331 shares during the period. Calamos Advisors LLC owned approximately 0.20% of Harris worth $37,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Harris in the fourth quarter worth $150,507,000. American Century Companies Inc. acquired a new position in shares of Harris in the fourth quarter worth $124,367,000. Ceredex Value Advisors LLC acquired a new position in shares of Harris in the fourth quarter worth $42,185,000. Renaissance Technologies LLC grew its stake in shares of Harris by 231.4% in the third quarter. Renaissance Technologies LLC now owns 275,059 shares of the communications equipment provider’s stock worth $46,543,000 after acquiring an additional 192,059 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Harris by 119.2% in the fourth quarter. Two Sigma Advisers LP now owns 337,504 shares of the communications equipment provider’s stock worth $45,445,000 after acquiring an additional 183,525 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

HRS traded up $0.11 on Friday, reaching $177.89. The company had a trading volume of 1,401,702 shares, compared to its average volume of 931,625. Harris Co. has a 1 year low of $123.24 and a 1 year high of $181.48. The stock has a market cap of $20.98 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.27 and a quick ratio of 1.04.

Harris (NYSE:HRS) last announced its quarterly earnings results on Wednesday, May 1st. The communications equipment provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.07. Harris had a net margin of 13.29% and a return on equity of 26.55%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the company earned $1.67 earnings per share. Harris’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts expect that Harris Co. will post 8 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, May 17th will be given a $0.685 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.74 dividend on an annualized basis and a yield of 1.54%. Harris’s dividend payout ratio (DPR) is presently 42.15%.

Several equities analysts have commented on HRS shares. Zacks Investment Research upgraded shares of Harris from a “hold” rating to a “buy” rating and set a $174.00 price target for the company in a research note on Thursday, January 31st. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Cowen reaffirmed a “buy” rating and set a $194.00 price objective on shares of Harris in a research report on Tuesday, January 29th. Finally, Argus lifted their price objective on shares of Harris from $170.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 30th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $186.88.

In related news, SVP Robert L. Duffy sold 40,000 shares of the business’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $158.66, for a total value of $6,346,400.00. Following the completion of the sale, the senior vice president now directly owns 63,918 shares of the company’s stock, valued at $10,141,229.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.51% of the stock is owned by insiders.

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Harris Company 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, 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.

See Also: Book Value Per Share – BVPS

Institutional Ownership by Quarter for Harris (NYSE:HRS)

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