Capital Investment Advisory Services LLC bought a new position in Harris Co. (NYSE:HRS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 600 shares of the communications equipment provider’s stock, valued at approximately $81,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HRS. Oppenheimer Asset Management Inc. acquired a new stake in shares of Harris during the 4th quarter valued at $31,000. Financial Gravity Companies Inc. acquired a new stake in shares of Harris during the 4th quarter valued at $67,000. Parkside Financial Bank & Trust lifted its position in shares of Harris by 19.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 920 shares of the communications equipment provider’s stock valued at $124,000 after acquiring an additional 153 shares during the last quarter. Daiwa SB Investments Ltd. lifted its position in shares of Harris by 12.0% during the 4th quarter. Daiwa SB Investments Ltd. now owns 930 shares of the communications equipment provider’s stock valued at $125,000 after acquiring an additional 100 shares during the last quarter. Finally, Patton Albertson Miller Group LLC acquired a new stake in shares of Harris during the 3rd quarter valued at $138,000. Hedge funds and other institutional investors own 86.10% of the company’s stock.
In other news, SVP Robert L. Duffy sold 40,000 shares of the company’s stock in a transaction on Friday, February 8th. The shares were sold at an average price of $158.66, for a total value of $6,346,400.00. Following the transaction, the senior vice president now directly owns 63,918 shares of the company’s stock, valued at $10,141,229.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.51% of the company’s stock.
Shares of NYSE:HRS opened at $161.96 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.04 and a current ratio of 1.27. Harris Co. has a 12-month low of $123.24 and a 12-month high of $175.50. The firm has a market cap of $19.07 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.50 and a beta of 1.23.
Harris (NYSE:HRS) last announced its earnings results on Tuesday, January 29th. The communications equipment provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.05. Harris had a net margin of 13.29% and a return on equity of 26.55%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the business earned $1.67 EPS. The company’s revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts forecast that Harris Co. will post 8.01 earnings per share for the current fiscal year.
Several brokerages have issued reports on HRS. Cowen reissued a “buy” rating and set a $194.00 target price on shares of Harris in a research note on Thursday, February 7th. Zacks Investment Research raised shares of Harris from a “hold” rating to a “buy” rating and set a $174.00 target price on the stock in a research note on Thursday, January 31st. Argus boosted their target price on shares of Harris from $170.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 30th. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Finally, Barclays cut their target price on shares of Harris from $181.00 to $161.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 4th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $182.33.
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Harris Company Profile
Harris Corporation provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.
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