Eagle Asset Management Inc. boosted its stake in Harris Corporation (NYSE:HRS) by 924.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 222,268 shares of the communications equipment provider’s stock after purchasing an additional 200,564 shares during the quarter. Eagle Asset Management Inc. owned about 0.19% of Harris worth $29,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HRS. BB&T Investment Services Inc. bought a new stake in shares of Harris in the second quarter worth about $113,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Harris by 110.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock worth $131,000 after acquiring an additional 632 shares in the last quarter. BT Investment Management Ltd bought a new stake in shares of Harris in the second quarter worth about $157,000. Stephens Inc. AR bought a new stake in shares of Harris in the second quarter worth about $167,000. Finally, Ropes Wealth Advisors LLC increased its holdings in shares of Harris by 5.4% in the second quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock worth $178,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 84.41% of the company’s stock.

In other news, SVP Scott T. Mikuen sold 13,600 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total value of $1,677,696.00. Following the transaction, the senior vice president now owns 61,349 shares in the company, valued at approximately $7,568,012.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Scott T. Mikuen sold 4,387 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $121.70, for a total value of $533,897.90. The disclosure for this sale can be found here. Insiders own 1.91% of the company’s stock.

A number of research analysts recently issued reports on HRS shares. Cowen reiterated a “buy” rating and set a $134.00 price objective (up from $125.00) on shares of Harris in a report on Tuesday, September 12th. Zacks Investment Research upgraded Harris from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. ValuEngine downgraded Harris from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Seaport Global Securities reiterated a “buy” rating and set a $145.00 price objective (up from $135.00) on shares of Harris in a report on Monday, October 9th. Finally, Jefferies Group increased their price target on Harris from $135.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Harris has a consensus rating of “Buy” and a consensus price target of $145.43.

Harris Corporation (NYSE:HRS) traded down $0.98 during midday trading on Thursday, hitting $143.22. The company had a trading volume of 658,500 shares, compared to its average volume of 742,990. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 1.11. Harris Corporation has a 12 month low of $99.13 and a 12 month high of $144.75. The firm has a market cap of $17,188.73, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 3.44 and a beta of 1.12.

Harris (NYSE:HRS) last announced its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.44 billion. Harris had a return on equity of 23.36% and a net margin of 9.02%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. equities research analysts anticipate that Harris Corporation will post 5.99 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, November 16th. Harris’s payout ratio is 50.89%.

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Harris Profile

Institutional Ownership by Quarter for Harris (NYSE:HRS)

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