Laurion Capital Management LP bought a new stake in Harris Corporation (NYSE:HRS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 51,600 shares of the communications equipment provider’s stock, valued at approximately $5,629,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Harris Corporation by 11.3% in the first quarter. Dimensional Fund Advisors LP now owns 590,844 shares of the communications equipment provider’s stock valued at $65,744,000 after purchasing an additional 59,933 shares in the last quarter. Bank of Montreal Can raised its stake in Harris Corporation by 39.2% in the second quarter. Bank of Montreal Can now owns 122,868 shares of the communications equipment provider’s stock valued at $13,403,000 after purchasing an additional 34,614 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Harris Corporation in the second quarter valued at approximately $2,368,000. BTIM Corp. purchased a new stake in Harris Corporation in the second quarter valued at approximately $435,000. Finally, Knights of Columbus Asset Advisors LLC purchased a new stake in Harris Corporation in the first quarter valued at approximately $1,458,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.
Harris Corporation (NYSE HRS) traded up 2.11% on Friday, hitting $126.87. 1,501,023 shares of the company’s stock traded hands. Harris Corporation has a 12 month low of $88.89 and a 12 month high of $126.98. The stock has a 50 day moving average price of $120.03 and a 200-day moving average price of $113.18. The stock has a market cap of $15.19 billion, a P/E ratio of 28.60 and a beta of 1.19.
Harris Corporation (NYSE:HRS) last issued its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.49. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 EPS. Equities analysts predict that Harris Corporation will post $6.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.80%. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 7th. Harris Corporation’s dividend payout ratio is 51.47%.
A number of equities research analysts recently weighed in on the stock. Cowen and Company reaffirmed a “buy” rating and issued a $134.00 target price (up from $125.00) on shares of Harris Corporation in a research note on Tuesday, September 12th. ValuEngine raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Credit Suisse Group assumed coverage on shares of Harris Corporation in a research note on Monday, August 28th. They issued an “outperform” rating and a $144.00 target price on the stock. Zacks Investment Research raised shares of Harris Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Finally, BidaskClub raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Harris Corporation currently has a consensus rating of “Buy” and an average target price of $121.57.
COPYRIGHT VIOLATION WARNING: This story was first published by Week Herald and is the sole property of of Week Herald. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://weekherald.com/2017/09/17/51600-shares-in-harris-corporation-hrs-purchased-by-laurion-capital-management-lp.html.
In other news, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $118.93, for a total transaction of $484,045.10. Following the sale, the insider now directly owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Scott T. Mikuen sold 13,600 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 61,349 shares in the company, valued at $7,568,012.64. The disclosure for this sale can be found here. Insiders have sold a total of 72,357 shares of company stock worth $8,643,111 over the last ninety days. Insiders own 1.71% of the company’s stock.
Harris Corporation 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.