Employers Holdings Inc. Acquires New Position in Harris Co. (NYSE:HRS)

Employers Holdings Inc. acquired a new stake in Harris Co. (NYSE:HRS) in the second quarter, Holdings Channel.com reports. The fund acquired 1,580 shares of the communications equipment provider’s stock, valued at approximately $299,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in HRS. Artisan Partners Limited Partnership grew its holdings in shares of Harris by 42.2% in the first quarter. Artisan Partners Limited Partnership now owns 4,535,465 shares of the communications equipment provider’s stock valued at $724,359,000 after purchasing an additional 1,346,524 shares during the period. Janus Henderson Group PLC lifted its position in Harris by 14.7% in the first quarter. Janus Henderson Group PLC now owns 5,078,411 shares of the communications equipment provider’s stock valued at $811,076,000 after buying an additional 652,182 shares during the last quarter. FMR LLC lifted its position in Harris by 62.7% in the first quarter. FMR LLC now owns 1,260,139 shares of the communications equipment provider’s stock valued at $201,255,000 after buying an additional 485,422 shares during the last quarter. BlackRock Inc. lifted its position in Harris by 1.5% in the first quarter. BlackRock Inc. now owns 9,702,108 shares of the communications equipment provider’s stock valued at $1,549,525,000 after buying an additional 141,508 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Harris by 23.3% in the first quarter. California Public Employees Retirement System now owns 745,136 shares of the communications equipment provider’s stock valued at $119,006,000 after buying an additional 140,779 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

NYSE HRS remained flat at $$184.96 during trading hours on Friday. 1,072,502 shares of the company’s stock were exchanged, compared to its average volume of 1,293,305. The firm has a fifty day moving average price of $192.07 and a 200-day moving average price of $177.44. Harris Co. has a 52 week low of $123.24 and a 52 week high of $200.77. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.42 and a quick ratio of 1.15. The company has a market capitalization of $21.85 billion, a PE ratio of 28.46, a P/E/G ratio of 2.90 and a beta of 0.98.

A number of research analysts have commented on HRS shares. Zacks Investment Research raised shares of Harris from a “sell” rating to a “hold” rating and set a $201.00 target price on the stock in a research report on Tuesday, April 30th. Barclays upped their target price on shares of Harris from $205.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Argus upped their target price on shares of Harris to $200.00 and gave the company a “positive” rating in a research report on Wednesday, May 8th. Finally, Raymond James upped their target price on shares of Harris from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $208.17.

About Harris

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.

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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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