GHP Investment Advisors Inc. increased its stake in Harris Corporation (NYSE:HRS) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,873 shares of the communications equipment provider’s stock after buying an additional 777 shares during the period. GHP Investment Advisors Inc.’s holdings in Harris Corporation were worth $1,295,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in Harris Corporation by 3,267.9% in the first quarter. BlackRock Inc. now owns 7,670,217 shares of the communications equipment provider’s stock valued at $853,463,000 after buying an additional 7,442,472 shares during the last quarter. Janus Capital Management LLC increased its position in Harris Corporation by 253.7% in the first quarter. Janus Capital Management LLC now owns 2,165,991 shares of the communications equipment provider’s stock valued at $241,010,000 after buying an additional 1,553,628 shares during the last quarter. Private Advisor Group LLC increased its position in Harris Corporation by 20,790.1% in the first quarter. Private Advisor Group LLC now owns 764,788 shares of the communications equipment provider’s stock valued at $9,623,000 after buying an additional 761,127 shares during the last quarter. SG Americas Securities LLC increased its position in Harris Corporation by 2,515.7% in the second quarter. SG Americas Securities LLC now owns 475,954 shares of the communications equipment provider’s stock valued at $51,917,000 after buying an additional 457,758 shares during the last quarter. Finally, FMR LLC boosted its stake in Harris Corporation by 38.6% in the first quarter. FMR LLC now owns 1,587,040 shares of the communications equipment provider’s stock worth $176,590,000 after buying an additional 441,769 shares during the last quarter. Institutional investors own 83.60% of the company’s stock.

Shares of Harris Corporation (HRS) opened at 119.66 on Friday. The company has a 50-day moving average of $116.47 and a 200-day moving average of $111.69. The company has a market cap of $14.40 billion, a PE ratio of 26.97 and a beta of 1.22. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $121.27.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.91%. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. Harris Corporation’s dividend payout ratio is 47.86%.

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HRS has been the topic of a number of analyst reports. Barclays PLC cut shares of Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 target price on the stock. in a research note on Monday, May 1st. Jefferies Group LLC upped their target price on shares of Harris Corporation from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, May 4th. ValuEngine raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub cut shares of Harris Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Zacks Investment Research cut shares of Harris Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $113.29.

In other Harris Corporation news, SVP Robert L. Duffy sold 33,600 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $112.01, for a total transaction of $3,763,536.00. Following the transaction, the senior vice president now directly owns 50,311 shares in the company, valued at $5,635,335.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher D. Young sold 4,070 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $118.93, for a total transaction of $484,045.10. Following the transaction, the insider now owns 46,131 shares in the company, valued at $5,486,359.83. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,970 shares of company stock worth $10,195,053. 1.71% of the stock is owned by company insiders.

About Harris Corporation

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

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