Princeton Portfolio Strategies Group LLC Has $644,000 Stake in Harris Corporation (HRS)
Princeton Portfolio Strategies Group LLC lowered its stake in Harris Corporation (NYSE:HRS) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,900 shares of the communications equipment provider’s stock after selling 200 shares during the period. Princeton Portfolio Strategies Group LLC’s holdings in Harris Corporation were worth $644,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Harris Corporation by 0.9% in the second quarter. Vanguard Group Inc. now owns 13,405,643 shares of the communications equipment provider’s stock worth $1,462,287,000 after buying an additional 114,384 shares during the period. BlackRock Inc. increased its holdings in shares of Harris Corporation by 2.3% in the second quarter. BlackRock Inc. now owns 7,848,843 shares of the communications equipment provider’s stock worth $856,150,000 after buying an additional 178,626 shares during the period. State Street Corp increased its holdings in shares of Harris Corporation by 3.9% in the first quarter. State Street Corp now owns 5,085,846 shares of the communications equipment provider’s stock worth $565,898,000 after buying an additional 188,952 shares during the period. Capital Research Global Investors purchased a new position in shares of Harris Corporation in the second quarter worth about $304,508,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Harris Corporation by 12,337.7% in the second quarter. Janus Henderson Group PLC now owns 2,459,438 shares of the communications equipment provider’s stock worth $268,276,000 after buying an additional 2,439,664 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.
In related 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 value of $484,045.10. Following the sale, the insider now directly owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott T. Mikuen sold 13,600 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the completion of the sale, the senior vice president now directly owns 61,349 shares in the company, valued at $7,568,012.64. The disclosure for this sale can be found here. Insiders have sold a total of 72,357 shares of company stock worth $8,643,111 over the last 90 days. Corporate insiders own 1.91% of the company’s stock.
HRS has been the topic of several analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 price objective (up previously from $125.00) on shares of Harris Corporation in a report on Friday, July 14th. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Cowen and Company reiterated a “buy” rating and issued a $125.00 price objective on shares of Harris Corporation in a report on Thursday, July 6th. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Zacks Investment Research upgraded Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Harris Corporation currently has a consensus rating of “Buy” and a consensus price target of $121.33.
Harris Corporation (NYSE HRS) traded up 0.19% on Monday, hitting $135.92. The stock had a trading volume of 69,087 shares. Harris Corporation has a 52-week low of $88.89 and a 52-week high of $136.21. The firm has a market cap of $16.28 billion, a price-to-earnings ratio of 30.64 and a beta of 1.18. The company’s 50 day moving average price is $126.26 and its 200 day moving average price is $115.47.
Harris Corporation (NYSE:HRS) last announced its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.49. The firm 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%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 EPS. Analysts expect that Harris Corporation will post $6.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.68%. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 7th. Harris Corporation’s dividend payout ratio is currently 51.47%.
Harris Corporation Profile
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