Zurcher Kantonalbank Zurich Cantonalbank Has $3.27 Million Position in Harris Corporation (HRS)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Harris Corporation (NYSE:HRS) by 10.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 23,105 shares of the communications equipment provider’s stock after selling 2,818 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Harris were worth $3,273,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of HRS. Janus Henderson Group PLC boosted its holdings in Harris by 36.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,352,336 shares of the communications equipment provider’s stock valued at $441,435,000 after acquiring an additional 892,898 shares during the period. Koch Industries Inc. purchased a new stake in Harris during the 2nd quarter valued at about $612,000. Bessemer Group Inc. boosted its holdings in Harris by 122,037.5% during the 4th quarter. Bessemer Group Inc. now owns 609,466 shares of the communications equipment provider’s stock valued at $86,331,000 after acquiring an additional 608,967 shares during the period. Victory Capital Management Inc. boosted its holdings in Harris by 985.3% during the 3rd quarter. Victory Capital Management Inc. now owns 229,844 shares of the communications equipment provider’s stock valued at $30,266,000 after acquiring an additional 208,666 shares during the period. Finally, Eagle Asset Management Inc. boosted its holdings in Harris by 924.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 222,268 shares of the communications equipment provider’s stock valued at $29,519,000 after acquiring an additional 200,564 shares during the period. Institutional investors own 84.91% of the company’s stock.

Shares of Harris Corporation (HRS) opened at $153.02 on Friday. Harris Corporation has a fifty-two week low of $104.16 and a fifty-two week high of $160.67. 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 firm has a market capitalization of $17,790.47, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 3.86 and a beta of 1.29.

Harris (NYSE:HRS) last released its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.28. Harris had a return on equity of 24.49% and a net margin of 8.63%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the business posted $1.38 EPS. The business’s revenue was up 5.9% on a year-over-year basis. sell-side analysts forecast that Harris Corporation will post 6.48 earnings per share for the current year.

HRS has been the subject of several analyst reports. Zacks Investment Research upgraded Harris from a “hold” rating to a “buy” rating and set a $153.00 target price for the company in a report on Monday, October 16th. Cowen reiterated a “buy” rating and issued a $150.00 price objective on shares of Harris in a report on Thursday, October 19th. Jefferies Group increased their price objective on Harris from $135.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Credit Suisse Group reiterated an “outperform” rating and issued a $155.00 price objective (up previously from $144.00) on shares of Harris in a report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. increased their price objective on Harris from $138.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $154.57.

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Harris Profile

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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