Gotham Asset Management LLC Acquires 216,777 Shares of Harris Corporation (HRS)
Gotham Asset Management LLC increased its holdings in Harris Corporation (NYSE:HRS) by 192.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,220 shares of the communications equipment provider’s stock after purchasing an additional 216,777 shares during the period. Gotham Asset Management LLC owned approximately 0.27% of Harris Corporation worth $35,911,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. BlackRock Inc. boosted its holdings in Harris Corporation by 3,267.9% during the first quarter. BlackRock Inc. now owns 7,670,217 shares of the communications equipment provider’s stock valued at $853,463,000 after acquiring an additional 7,442,472 shares during the period. Capital Research Global Investors bought a new stake in Harris Corporation during the second quarter valued at about $304,508,000. Janus Henderson Group PLC boosted its holdings in Harris Corporation by 12,337.7% during the second quarter. Janus Henderson Group PLC now owns 2,459,438 shares of the communications equipment provider’s stock valued at $268,276,000 after acquiring an additional 2,439,664 shares during the period. Janus Capital Management LLC boosted its holdings in Harris Corporation by 253.7% during 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 acquiring an additional 1,553,628 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Harris Corporation by 2,515.7% during 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 acquiring an additional 457,758 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.
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In related news, insider Christopher D. Young sold 4,070 shares of Harris Corporation 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 completion of the sale, the insider now owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sheldon J. Fox sold 50,300 shares of Harris Corporation 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 sale, the senior vice president now directly owns 73,092 shares of the company’s stock, valued at approximately $8,642,398.08. The disclosure for this sale can be found here. Insiders have sold a total of 72,357 shares of company stock valued at $8,643,111 in the last ninety days. 1.91% of the stock is currently owned by insiders.
Shares of Harris Corporation (NYSE HRS) traded up 0.54% on Thursday, hitting $134.73. 127,771 shares of the stock were exchanged. The company has a 50-day moving average price of $125.37 and a 200-day moving average price of $115.16. Harris Corporation has a one year low of $88.89 and a one year high of $134.90. The firm has a market capitalization of $16.14 billion, a PE ratio of 30.37 and a beta of 1.18.
Harris Corporation (NYSE:HRS) last announced its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, hitting the consensus estimate of $1.49. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate 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 was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 EPS. Equities research analysts expect that Harris Corporation will post $6.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a dividend of $0.57 per share. This is an increase from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 1.70%. Harris Corporation’s payout ratio is presently 51.47%.
A number of equities research analysts have issued reports on the stock. BidaskClub cut shares of Harris Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Cowen and Company restated a “buy” rating and set a $134.00 price target (up from $125.00) on shares of Harris Corporation in a report on Tuesday, September 12th. Zacks Investment Research upgraded shares of Harris Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. ValuEngine cut shares of Harris Corporation from a “buy” rating to a “hold” rating in a report on Monday. Finally, Jefferies Group LLC restated a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a report on Friday, July 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Harris Corporation currently has an average rating of “Buy” and an average price target of $121.33.
Harris Corporation Company Profile
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