Harris Corporation (HRS) Shares Bought by Riverhead Capital Management LLC
Riverhead Capital Management LLC lifted its stake in Harris Corporation (NYSE:HRS) by 30.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,496 shares of the communications equipment provider’s stock after purchasing an additional 9,300 shares during the period. Riverhead Capital Management LLC’s holdings in Harris Corporation were worth $4,308,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Trust Co. of Vermont lifted its position in shares of Harris Corporation by 20.6% in the 2nd quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock worth $100,000 after purchasing an additional 157 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Harris Corporation by 110.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock worth $131,000 after purchasing an additional 632 shares during the period. Ropes Wealth Advisors LLC lifted its position in shares of Harris Corporation by 198.8% in the 1st quarter. Ropes Wealth Advisors LLC now owns 1,551 shares of the communications equipment provider’s stock worth $173,000 after purchasing an additional 1,032 shares during the period. Ullmann Financial Group Inc. purchased a new stake in shares of Harris Corporation in the 1st quarter worth about $179,000. Finally, Hyman Charles D purchased a new stake in shares of Harris Corporation in the 1st quarter worth about $205,000. 83.33% of the stock is owned by hedge funds and other institutional investors.
In other Harris Corporation news, insider Christopher D. Young sold 4,070 shares of the stock in a transaction dated 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 directly owns 46,131 shares in the company, valued at approximately $5,486,359.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Sheldon J. Fox sold 50,300 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the transaction, the senior vice president now owns 73,092 shares in the company, valued at $8,642,398.08. The disclosure for this sale can be found here. 1.71% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on HRS shares. ValuEngine raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Harris Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research cut shares of Harris Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Cowen and Company reaffirmed a “buy” rating and issued a $125.00 target price on shares of Harris Corporation in a research report on Thursday, July 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 target price on shares of Harris Corporation in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Harris Corporation presently has a consensus rating of “Buy” and an average target price of $120.29.
Shares of Harris Corporation (NYSE:HRS) traded up 0.08% on Tuesday, reaching $123.37. 17,343 shares of the company were exchanged. The company has a market capitalization of $14.84 billion, a price-to-earnings ratio of 27.81 and a beta of 1.19. The company’s 50-day moving average is $118.75 and its 200-day moving average is $112.75. Harris Corporation has a 52 week low of $88.89 and a 52 week high of $123.57.
Harris Corporation (NYSE:HRS) last issued its 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 net margin of 8.53% and a return on equity of 23.49%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the business earned $1.45 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, equities analysts expect that Harris Corporation will post $6.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.85%. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 7th. Harris Corporation’s dividend payout ratio is presently 51.47%.
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Harris Corporation Profile
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