State of Wisconsin Investment Board lessened its stake in shares of Harris Co. (NYSE:HRS) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,213 shares of the communications equipment provider’s stock after selling 43,798 shares during the quarter. State of Wisconsin Investment Board owned 0.20% of Harris worth $33,601,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in HRS. KBC Group NV raised its holdings in Harris by 39.3% in the third quarter. KBC Group NV now owns 18,473 shares of the communications equipment provider’s stock valued at $2,433,000 after acquiring an additional 5,216 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Harris by 10.2% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,416 shares of the communications equipment provider’s stock valued at $6,375,000 after buying an additional 4,500 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Harris in the 3rd quarter valued at $540,000. New York State Common Retirement Fund grew its position in Harris by 2.3% in the 3rd quarter. New York State Common Retirement Fund now owns 272,500 shares of the communications equipment provider’s stock valued at $35,883,000 after buying an additional 6,000 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Harris by 12.4% in the 3rd quarter. Stifel Financial Corp now owns 76,847 shares of the communications equipment provider’s stock valued at $10,113,000 after buying an additional 8,470 shares during the last quarter. 84.99% of the stock is owned by institutional investors.
In other news, SVP Dana A. Mehnert sold 51,200 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $153.19, for a total value of $7,843,328.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Sheldon J. Fox sold 8,682 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $156.00, for a total value of $1,354,392.00. Following the completion of the transaction, the senior vice president now directly owns 53,724 shares of the company’s stock, valued at approximately $8,380,944. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,882 shares of company stock worth $12,221,320. Corporate insiders own 1.91% of the company’s stock.
Harris Co. (HRS) opened at $158.10 on Wednesday. The firm has a market capitalization of $18,761.68, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 4.07 and a beta of 1.27. Harris Co. has a fifty-two week low of $106.18 and a fifty-two week high of $161.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.22 and a quick ratio of 0.68.
Harris (NYSE:HRS) last announced its earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.28. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.48 billion. Harris had a return on equity of 24.49% and a net margin of 8.63%. Harris’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 EPS. equities analysts forecast that Harris Co. will post 6.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Thursday, March 8th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, March 7th. Harris’s dividend payout ratio is currently 53.90%.
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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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