JPMorgan Chase & Co. lowered its position in shares of Harris Corp. (NYSE:HRS) by 13.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,976,622 shares of the company’s stock after selling 463,889 shares during the period. JPMorgan Chase & Co. owned 2.40% of Harris Corp. worth $272,690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global X Management Co. LLC raised its position in 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 last quarter. Meeder Asset Management Inc. increased its stake in 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. CENTRAL TRUST Co increased its stake in 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. Mizuho Asset Management Co. Ltd. increased its stake in 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. Finally, Peddock Capital Advisors LLC bought a new stake in Harris Corp. during the third quarter worth about $168,000. 84.03% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Harris Corp. (NYSE:HRS)

Harris Corp. (NYSE:HRS) opened at 104.01 on Tuesday. The stock has a market cap of $12.93 billion, a PE ratio of 38.87 and a beta of 1.29. The company’s 50-day moving average is $96.15 and its 200 day moving average is $88.71. Harris Corp. has a 52 week low of $70.97 and a 52 week high of $105.93.

Harris Corp. (NYSE:HRS) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.05. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Harris Corp. had a net margin of 4.53% and a return on equity of 22.84%. Harris Corp.’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 EPS. On average, analysts expect that Harris Corp. will post $5.80 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Friday, November 18th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, November 16th. Harris Corp.’s dividend payout ratio is currently 79.70%.

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A number of analysts recently issued reports on HRS shares. Cowen and Company upgraded shares of Harris Corp. from a “market perform” rating to an “outperform” rating and set a $107.00 price objective for the company in a report on Monday, November 7th. Jefferies Group restated a “buy” rating and set a $100.00 price objective (up previously from $95.00) on shares of Harris Corp. in a report on Wednesday, August 3rd. Citigroup Inc. decreased their price objective on shares of Harris Corp. from $112.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, September 6th. Zacks Investment Research downgraded shares of Harris Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Finally, Vertical Research started coverage on shares of Harris Corp. in a report on Friday, October 28th. They set a “buy” rating and a $100.00 price objective for the company. Eleven research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average 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 dated Thursday, November 3rd. The shares were sold at an average price of $92.99, for a total transaction of $175,193.16. Following the transaction, the insider now owns 1,702 shares in the company, valued at approximately $158,268.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William H. Gattle sold 1,366 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $93.75, for a total transaction of $128,062.50. Following the transaction, 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. Company insiders own 1.71% of the company’s stock.

Harris Corp. Company Profile

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