Advisors Asset Management Inc. Sells 10,183 Shares of Harris Corporation (HRS)

Advisors Asset Management Inc. decreased its stake in shares of Harris Corporation (NYSE:HRS) by 17.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,452 shares of the communications equipment provider’s stock after selling 10,183 shares during the quarter. Advisors Asset Management Inc.’s holdings in Harris Corporation were worth $6,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of HRS. Oregon Public Employees Retirement Fund increased its holdings in Harris Corporation by 164.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 34,551 shares of the communications equipment provider’s stock worth $3,769,000 after purchasing an additional 21,500 shares during the period. Aperio Group LLC increased its holdings in Harris Corporation by 32.3% during the 2nd quarter. Aperio Group LLC now owns 49,261 shares of the communications equipment provider’s stock worth $5,373,000 after purchasing an additional 12,019 shares during the period. BTIM Corp. purchased a new stake in Harris Corporation during the 2nd quarter worth about $435,000. Highland Capital Management LLC purchased a new stake in Harris Corporation during the 2nd quarter worth about $497,000. Finally, Osborn Williams & Donohoe LLC purchased a new stake in Harris Corporation during the 2nd quarter worth about $213,000. Institutional investors own 83.84% of the company’s stock.

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In other news, 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.91% of the company’s stock.

HRS has been the topic of several recent research reports. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Credit Suisse Group initiated coverage on Harris Corporation in a report on Monday, August 28th. They set an “outperform” rating and a $144.00 price target on the stock. J P Morgan Chase & Co upped their price target on Harris Corporation from $138.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Finally, BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Harris Corporation currently has an average rating of “Buy” and a consensus price target of $145.43.

Harris Corporation (NYSE HRS) traded down $0.51 on Monday, hitting $139.84. The stock had a trading volume of 611,400 shares, compared to its average volume of 747,059. Harris Corporation has a fifty-two week low of $99.13 and a fifty-two week high of $141.97. The stock has a market cap of $16,670.00, a P/E ratio of 24.66, a P/E/G ratio of 3.33 and a beta of 1.12. 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 Corporation (NYSE:HRS) last released its quarterly earnings data on Tuesday, October 31st. The communications equipment provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Harris Corporation had a return on equity of 23.36% and a net margin of 9.02%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the business posted $1.28 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. analysts forecast that Harris Corporation will post 5.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.63%. Harris Corporation’s payout ratio is currently 42.62%.

Harris Corporation Profile

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

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