Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Holdings in Harris Co. (HRS)
Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Harris Co. (NYSE:HRS) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,972 shares of the communications equipment provider’s stock after buying an additional 562 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Harris were worth $3,947,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. BB&T Investment Services Inc. purchased a new stake in Harris during the second quarter valued at approximately $113,000. Northwestern Mutual Wealth Management Co. increased its holdings in Harris by 110.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock valued at $131,000 after buying an additional 632 shares during the last quarter. BT Investment Management Ltd purchased a new stake in Harris during the second quarter valued at approximately $157,000. Stephens Inc. AR purchased a new stake in Harris during the second quarter valued at approximately $167,000. Finally, Ropes Wealth Advisors LLC increased its holdings in Harris by 5.4% during the second quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock valued at $178,000 after buying an additional 84 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.
In other Harris news, SVP Scott T. Mikuen sold 13,600 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total value of $1,677,696.00. Following the completion of the transaction, the senior vice president now directly owns 61,349 shares in the company, valued at $7,568,012.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Sheldon J. Fox sold 50,300 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now 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 quarter, insiders sold 68,287 shares of company stock valued at $8,159,066. Company insiders own 1.91% of the company’s stock.
Harris Co. (NYSE HRS) traded down $0.51 on Friday, hitting $139.84. 610,724 shares of the company’s stock were exchanged, compared to its average volume of 747,059. The company has a market capitalization of $16,730.00, a price-to-earnings ratio of 24.58, a P/E/G ratio of 3.32 and a beta of 1.12. Harris Co. has a fifty-two week low of $99.13 and a fifty-two week high of $141.97. The company has a current ratio of 1.11, a quick ratio of 0.64 and a debt-to-equity ratio of 1.14.
Harris (NYSE:HRS) last posted its quarterly earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.44 billion. Harris had a net margin of 11.82% and a return on equity of 22.65%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. equities research analysts expect that Harris Co. will post 5.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.63%. Harris’s payout ratio is currently 42.62%.
A number of analysts have commented on the stock. Jefferies Group LLC upped their target price on shares of Harris from $135.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Credit Suisse Group reaffirmed an “outperform” rating and set a $155.00 target price (up from $144.00) on shares of Harris in a report on Wednesday, November 1st. They noted that the move was a valuation call. J P Morgan Chase & Co upped their target price on shares of Harris from $138.00 to $148.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Zacks Investment Research raised shares of Harris from a “hold” rating to a “buy” rating and set a $153.00 target price for the company in a report on Monday, October 16th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $145.00 target price (up from $135.00) on shares of Harris in a report on Monday, October 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $145.43.
Harris Company Profile
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