34,000 Shares in Harris Corp. (HRS) Acquired by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. acquired a new position in shares of Harris Corp. (NYSE:HRS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 34,000 shares of the company’s stock, valued at approximately $3,115,000.
Other large investors have also made changes to their positions in the company. Global X Management Co. LLC boosted its stake in shares of Harris Corp. by 81.0% in the second quarter. Global X Management Co. LLC now owns 1,419 shares of the company’s stock worth $118,000 after buying an additional 635 shares during the period. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Harris Corp. by 178.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,661 shares of the company’s stock worth $139,000 after buying an additional 1,064 shares during the period. Huntington National Bank boosted its stake in shares of Harris Corp. by 24.1% in the second quarter. Huntington National Bank now owns 1,702 shares of the company’s stock worth $142,000 after buying an additional 330 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Harris Corp. by 157.4% in the third quarter. Meeder Asset Management Inc. now owns 1,552 shares of the company’s stock worth $142,000 after buying an additional 949 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in shares of Harris Corp. by 30.8% in the third quarter. CENTRAL TRUST Co now owns 1,619 shares of the company’s stock worth $149,000 after buying an additional 381 shares during the period. 84.03% of the stock is owned by institutional investors.
Shares of Harris Corp. (NYSE:HRS) traded down 0.32% on Monday, hitting $104.45. 432,684 shares of the company traded hands. Harris Corp. has a 1-year low of $70.97 and a 1-year high of $105.93. The firm’s 50-day moving average is $95.83 and its 200 day moving average is $88.33. The firm has a market capitalization of $12.98 billion, a P/E ratio of 39.03 and a beta of 1.29.
Harris Corp. (NYSE:HRS) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.05. Harris Corp. had a net margin of 4.53% and a return on equity of 22.84%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts anticipate that Harris Corp. will post $5.80 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Friday, November 18th will be given a $0.53 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $2.12 annualized dividend and a yield of 2.02%. Harris Corp.’s dividend payout ratio is presently 79.70%.
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Several equities research analysts have weighed in on HRS shares. Zacks Investment Research raised shares of Harris Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 19th. Seaport Global Securities started coverage on shares of Harris Corp. in a research report on Monday, November 7th. They set a “buy” rating and a $105.00 price target for the company. JPMorgan Chase & Co. set a $93.00 price target on shares of Harris Corp. and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Vertical Research started coverage on shares of Harris Corp. in a research report on Friday, October 28th. They set a “buy” rating and a $100.00 price target for the company. Finally, Citigroup Inc. dropped their price target on shares of Harris Corp. from $112.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, September 6th. Eleven investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $101.89.
In other Harris Corp. news, insider Edward J. Zoiss sold 1,884 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $92.99, for a total value of $175,193.16. Following the sale, the insider now owns 1,702 shares in the company, valued at approximately $158,268.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William H. Gattle sold 1,366 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $93.75, for a total value of $128,062.50. Following the completion of the sale, the insider now owns 4,851 shares in the company, valued at approximately $454,781.25. The disclosure for this sale can be found here. 1.71% of the stock is owned by company insiders.
About Harris Corp.
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