Hartford Investment Management Co. reduced its position in shares of Harris Co. (NYSE:HRS) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,312 shares of the communications equipment provider’s stock after selling 136 shares during the period. Hartford Investment Management Co.’s holdings in Harris were worth $1,792,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. purchased a new position in Harris in the fourth quarter valued at about $31,000. Patton Albertson Miller Group LLC purchased a new position in shares of Harris during the 3rd quarter worth approximately $138,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Harris during the 3rd quarter worth approximately $146,000. Parkside Financial Bank & Trust increased its stake in shares of Harris by 19.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 920 shares of the communications equipment provider’s stock worth $124,000 after purchasing an additional 153 shares in the last quarter. Finally, Daiwa SB Investments Ltd. increased its stake in shares of Harris by 12.0% during the 4th quarter. Daiwa SB Investments Ltd. now owns 930 shares of the communications equipment provider’s stock worth $125,000 after purchasing an additional 100 shares in the last quarter. 86.10% of the stock is owned by hedge funds and other institutional investors.
HRS has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Harris from a “hold” rating to a “buy” rating and set a $174.00 target price on the stock in a research report on Thursday, January 31st. Credit Suisse Group raised their target price on shares of Harris from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Monday, October 15th. ValuEngine lowered shares of Harris from a “buy” rating to a “hold” rating in a research report on Saturday, December 1st. Cowen reiterated a “buy” rating and issued a $194.00 price target on shares of Harris in a report on Tuesday, January 29th. Finally, Barclays upgraded shares of Harris from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $189.00 to $181.00 in a report on Tuesday, November 13th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $182.33.
HRS opened at $160.16 on Monday. The stock has a market capitalization of $18.84 billion, a PE ratio of 24.64, a P/E/G ratio of 2.50 and a beta of 1.23. Harris Co. has a 1-year low of $123.24 and a 1-year high of $175.50. The company has a quick ratio of 1.04, a current ratio of 1.27 and a debt-to-equity ratio of 1.00.
Harris (NYSE:HRS) last released its earnings results on Tuesday, January 29th. The communications equipment provider reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.91 by $0.05. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.63 billion. Harris had a net margin of 13.29% and a return on equity of 26.55%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.67 EPS. On average, equities analysts expect that Harris Co. will post 8.01 EPS for the current year.
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.
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