Global X MANAGEMENT CO LLC increased its stake in shares of Harris Corporation (NYSE:HRS) by 20.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,739 shares of the communications equipment provider’s stock after acquiring an additional 473 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Harris Corporation were worth $361,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of HRS. Birmingham Capital Management Co. Inc. AL bought a new position in Harris Corporation during the third quarter valued at $211,000. Breton Hill Capital Ltd. lifted its position in Harris Corporation by 71.3% during the third quarter. Breton Hill Capital Ltd. now owns 7,155 shares of the communications equipment provider’s stock valued at $942,000 after purchasing an additional 2,978 shares during the last quarter. ZWJ Investment Counsel Inc. bought a new position in Harris Corporation during the third quarter valued at $244,000. Sunbelt Securities Inc. bought a new position in Harris Corporation during the third quarter valued at $278,000. Finally, Prudential Financial Inc. lifted its position in Harris Corporation by 1.4% during the third quarter. Prudential Financial Inc. now owns 173,548 shares of the communications equipment provider’s stock valued at $22,853,000 after purchasing an additional 2,390 shares during the last quarter. Hedge funds and other institutional investors own 83.84% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Global X MANAGEMENT CO LLC Raises Position in Harris Corporation (HRS)” was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://sportsperspectives.com/2017/11/20/global-x-management-co-llc-raises-position-in-harris-corporation-hrs.html.
HRS has been the subject of several research reports. BidaskClub lowered shares of Harris Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Cowen and Company reiterated a “buy” rating and set a $125.00 price objective on shares of Harris Corporation in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Harris Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Credit Suisse Group initiated coverage on shares of Harris Corporation in a research report on Monday, August 28th. They set an “outperform” rating and a $144.00 price objective for the company. Finally, ValuEngine upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Harris Corporation presently has an average rating of “Buy” and a consensus price target of $145.43.
Harris Corporation (NYSE:HRS) last announced its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.03. Harris Corporation had a net margin of 9.02% and a return on equity of 23.36%. 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 firm posted $1.28 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. sell-side analysts expect 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. Stockholders of record on Friday, November 17th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, November 16th. Harris Corporation’s dividend payout ratio is currently 50.89%.
In related news, SVP Scott T. Mikuen sold 4,387 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $121.70, for a total value of $533,897.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Scott T. Mikuen sold 13,600 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total transaction 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 approximately $7,568,012.64. The disclosure for this sale can be found here. Corporate insiders own 1.91% of the company’s stock.
Harris Corporation Company Profile
Receive News & Ratings for Harris Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris Corporation and related companies with MarketBeat.com's FREE daily email newsletter.