Swiss National Bank trimmed its holdings in Harris Corporation (NYSE:HRS) by 1.8% during the fourth quarter, reports. The fund owned 442,956 shares of the communications equipment provider’s stock after selling 8,300 shares during the period. Swiss National Bank’s holdings in Harris were worth $62,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Calton & Associates Inc. acquired a new position in shares of Harris in the 4th quarter valued at $180,000. First National Bank & Trust Co. of Newtown acquired a new position in shares of Harris in the 4th quarter valued at $200,000. Koshinski Asset Management Inc. acquired a new position in shares of Harris in the 4th quarter valued at $203,000. HL Financial Services LLC acquired a new position in shares of Harris in the 4th quarter valued at $205,000. Finally, Waters Parkerson & CO. LLC acquired a new position in shares of Harris in the 3rd quarter valued at $208,000. 83.84% of the stock is currently owned by institutional investors and hedge funds.

Harris Corporation (NYSE:HRS) opened at $154.97 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.22 and a quick ratio of 0.68. The stock has a market cap of $18,168.03, a price-to-earnings ratio of 36.64, a price-to-earnings-growth ratio of 3.94 and a beta of 1.29. Harris Corporation has a 12 month low of $106.00 and a 12 month high of $160.67.

Harris (NYSE:HRS) last announced its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.28. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Harris had a net margin of 8.63% and a return on equity of 24.49%. Harris’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 EPS. equities research analysts anticipate that Harris Corporation will post 6.48 earnings per share for the current fiscal year.

HRS has been the topic of a number of recent research reports. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Jefferies Group lifted 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. Cowen reaffirmed a “buy” rating and issued a $150.00 target price on shares of Harris in a report on Tuesday, October 31st. Zacks Investment Research raised shares of Harris from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Thursday, January 18th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $155.00 price objective (up from $144.00) on shares of Harris in a research note on Wednesday, November 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $154.57.

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About Harris

Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless and technology, among others, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services.

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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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