Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lowered its stake in Harris Corporation (NYSE:HRS) by 10.7% during the second quarter, Holdings Channel reports. The institutional investor owned 17,911 shares of the communications equipment provider’s stock after selling 2,135 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Harris Corporation were worth $1,954,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Trust Co. of Vermont increased its stake in Harris Corporation by 20.6% in the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 157 shares during the period. Ropes Wealth Advisors LLC increased its stake in Harris Corporation by 198.8% in the first quarter. Ropes Wealth Advisors LLC now owns 1,551 shares of the communications equipment provider’s stock worth $173,000 after buying an additional 1,032 shares during the period. Ullmann Financial Group Inc. acquired a new stake in Harris Corporation during the first quarter worth approximately $179,000. Harbour Capital Advisors LLC increased its stake in Harris Corporation by 10,808.2% in the second quarter. Harbour Capital Advisors LLC now owns 21,271 shares of the communications equipment provider’s stock worth $195,000 after buying an additional 21,076 shares during the period. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in Harris Corporation during the first quarter worth approximately $203,000. 83.60% of the stock is owned by hedge funds and other institutional investors.

Shares of Harris Corporation (NYSE HRS) opened at 120.25 on Thursday. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $121.27. The firm has a 50-day moving average price of $114.81 and a 200-day moving average price of $110.97. The firm has a market cap of $14.47 billion, a P/E ratio of 27.11 and a beta of 1.22.

Harris Corporation (NYSE:HRS) last released its quarterly earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the business posted $1.45 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts expect that Harris Corporation will post $6.00 earnings per share for the current fiscal year.

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A number of equities research analysts have commented on HRS shares. Cowen and Company reissued a “buy” rating and issued a $125.00 target price on shares of Harris Corporation in a report on Thursday, July 6th. BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $125.00 target price on shares of Harris Corporation in a report on Friday, July 7th. Finally, Barclays PLC downgraded Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 target price for the company. in a report on Monday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Harris Corporation presently has an average rating of “Buy” and an average target price of $113.29.

In other news, SVP Robert L. Duffy sold 33,600 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $112.01, for a total value of $3,763,536.00. Following the completion of the sale, the senior vice president now owns 50,311 shares in the company, valued at $5,635,335.11. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $118.93, for a total value of $484,045.10. Following the completion of the sale, the insider now owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

Harris Corporation Company Profile

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Institutional Ownership by Quarter for Harris Corporation (NYSE:HRS)

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