Raymond James Trust N.A. trimmed its holdings in Harris Corporation (NYSE:HRS) by 6.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,002 shares of the communications equipment provider’s stock after selling 733 shares during the period. Raymond James Trust N.A.’s holdings in Harris Corporation were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Harris Corporation by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,291,259 shares of the communications equipment provider’s stock valued at $1,478,919,000 after buying an additional 379,265 shares in the last quarter. BlackRock Inc. grew its stake in Harris Corporation by 3,267.9% in the 1st 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 in the last quarter. State Street Corp grew its stake in Harris Corporation by 3.9% in the 1st quarter. State Street Corp now owns 5,085,846 shares of the communications equipment provider’s stock valued at $565,898,000 after buying an additional 188,952 shares in the last quarter. Wellington Management Group LLP grew its stake in Harris Corporation by 3.1% in the 1st quarter. Wellington Management Group LLP now owns 2,444,847 shares of the communications equipment provider’s stock valued at $272,038,000 after buying an additional 74,146 shares in the last quarter. Finally, Janus Capital Management LLC grew its stake in Harris Corporation by 253.7% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Shares of Harris Corporation (NYSE:HRS) traded down 0.18% on Wednesday, reaching $123.45. 36,114 shares of the company’s stock traded hands. The firm’s 50-day moving average is $118.88 and its 200-day moving average is $112.83. Harris Corporation has a 52-week low of $88.89 and a 52-week high of $123.62. The stock has a market cap of $14.78 billion, a price-to-earnings ratio of 27.83 and a beta of 1.19.

Harris Corporation (NYSE:HRS) last announced its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.49. The firm had revenue of $1.54 billion during 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%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.45 earnings per share. Analysts anticipate that Harris Corporation will post $6.01 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.57 dividend. The ex-dividend date is Thursday, September 7th. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.84%. Harris Corporation’s dividend payout ratio is 51.47%.

In other news, insider Christopher D. Young sold 4,070 shares of the 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 directly owns 46,131 shares of the company’s stock, valued at $5,486,359.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Sheldon J. Fox sold 50,300 shares of the stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 73,092 shares of the company’s stock, valued at $8,642,398.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,757 shares of company stock valued at $6,965,415. Corporate insiders own 1.71% of the company’s stock.

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A number of research analysts recently weighed in on the stock. Cowen and Company reiterated a “buy” rating and issued a $134.00 price objective (up from $125.00) on shares of Harris Corporation in a research note on Tuesday. ValuEngine upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Credit Suisse Group assumed coverage on shares of Harris Corporation in a research note on Monday, August 28th. They issued an “outperform” rating and a $144.00 price objective for the company. Zacks Investment Research raised shares of Harris Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. Finally, BidaskClub raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Harris Corporation has an average rating of “Buy” and an average target price of $121.57.

Harris Corporation Company Profile

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

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