Crossmark Global Holdings Inc. Buys Shares of 36,405 Harris Corporation (HRS)

Crossmark Global Holdings Inc. bought a new stake in shares of Harris Corporation (NYSE:HRS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,405 shares of the communications equipment provider’s stock, valued at approximately $4,794,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Harris Corporation by 32.6% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 113,506 shares of the communications equipment provider’s stock valued at $14,947,000 after buying an additional 27,902 shares in the last quarter. Parsec Financial Management Inc. purchased a new stake in shares of Harris Corporation during the 3rd quarter valued at about $234,000. Korea Investment CORP raised its position in shares of Harris Corporation by 8.8% during the 3rd quarter. Korea Investment CORP now owns 16,153 shares of the communications equipment provider’s stock valued at $2,127,000 after buying an additional 1,300 shares in the last quarter. Aperio Group LLC raised its position in shares of Harris Corporation by 20.2% during the 3rd quarter. Aperio Group LLC now owns 59,229 shares of the communications equipment provider’s stock valued at $7,799,000 after buying an additional 9,968 shares in the last quarter. Finally, TrueNorth Inc. raised its position in shares of Harris Corporation by 29.6% during the 3rd quarter. TrueNorth Inc. now owns 6,261 shares of the communications equipment provider’s stock valued at $824,000 after buying an additional 1,430 shares in the last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.

In other Harris Corporation news, SVP Scott T. Mikuen sold 13,600 shares of Harris Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the transaction, the senior vice president now directly owns 61,349 shares of the company’s stock, valued at $7,568,012.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the senior vice president now directly owns 73,092 shares in the company, valued at $8,642,398.08. The disclosure for this sale can be found here. Insiders have sold 72,357 shares of company stock worth $8,643,111 over the last ninety days. 1.91% of the stock is owned by insiders.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, November 16th. Harris Corporation’s dividend payout ratio (DPR) is presently 50.89%.

Several brokerages have recently issued reports on HRS. J P Morgan Chase & Co upped their target price on shares of Harris Corporation from $138.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday. Jefferies Group LLC upped their target price on shares of Harris Corporation from $135.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday. Credit Suisse Group reissued an “outperform” rating and issued a $155.00 price objective (up from $144.00) on shares of Harris Corporation in a research report on Wednesday. They noted that the move was a valuation call. Zacks Investment Research raised shares of Harris Corporation from a “hold” rating to a “buy” rating and set a $153.00 price objective on the stock in a research report on Monday, October 16th. Finally, Seaport Global Securities reissued a “buy” rating and issued a $145.00 price objective (up from $135.00) on shares of Harris Corporation in a research report on Monday, October 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Harris Corporation currently has a consensus rating of “Buy” and a consensus price target of $145.43.

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Harris Corporation Company Profile

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Institutional Ownership by Quarter for Harris Corporation (NYSE:HRS)

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