Harris Co. (HRS) Shares Bought by Aperio Group LLC

Aperio Group LLC increased its position in Harris Co. (NYSE:HRS) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,424 shares of the communications equipment provider’s stock after buying an additional 2,824 shares during the period. Aperio Group LLC owned 0.06% of Harris worth $11,358,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. lifted its position in shares of Harris by 0.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 43,853 shares of the communications equipment provider’s stock worth $6,211,000 after buying an additional 343 shares in the last quarter. TIAA FSB lifted its position in shares of Harris by 1.1% in the fourth quarter. TIAA FSB now owns 31,987 shares of the communications equipment provider’s stock worth $4,530,000 after buying an additional 348 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Harris by 15.7% in the fourth quarter. MML Investors Services LLC now owns 2,985 shares of the communications equipment provider’s stock worth $423,000 after buying an additional 406 shares in the last quarter. Sentry Investment Management LLC lifted its position in shares of Harris by 5.0% in the fourth quarter. Sentry Investment Management LLC now owns 8,787 shares of the communications equipment provider’s stock worth $1,245,000 after buying an additional 416 shares in the last quarter. Finally, Citizens Financial Group Inc RI lifted its position in shares of Harris by 0.9% in the fourth quarter. Citizens Financial Group Inc RI now owns 52,861 shares of the communications equipment provider’s stock worth $7,487,000 after buying an additional 486 shares in the last quarter. Institutional investors own 86.06% of the company’s stock.

Shares of HRS stock opened at $154.47 on Tuesday. Harris Co. has a 1 year low of $107.78 and a 1 year high of $170.54. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 1.08. The company has a market cap of $18.27 billion, a price-to-earnings ratio of 27.93, a P/E/G ratio of 3.96 and a beta of 1.28.

Harris (NYSE:HRS) last issued its quarterly earnings data on Wednesday, May 2nd. The communications equipment provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.04. Harris had a return on equity of 25.07% and a net margin of 10.43%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the business posted $1.38 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. equities research analysts anticipate that Harris Co. will post 6.48 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 31st. This represents a $2.28 annualized dividend and a dividend yield of 1.48%. Harris’s payout ratio is 41.23%.

In other news, SVP Dana A. Mehnert sold 51,200 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 20,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $151.18, for a total value of $3,023,600.00. The disclosure for this sale can be found here. Corporate insiders own 1.91% of the company’s stock.

A number of research firms recently commented on HRS. Zacks Investment Research downgraded Harris from a “hold” rating to a “sell” rating in a research report on Tuesday, April 17th. Credit Suisse Group upped their price objective on Harris from $167.00 to $187.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Cowen restated a “buy” rating and set a $170.00 price objective on shares of Harris in a research report on Tuesday, January 30th. Argus initiated coverage on Harris in a research report on Wednesday, April 4th. They set a “buy” rating and a $196.00 price objective on the stock. Finally, Barclays initiated coverage on Harris in a research report on Thursday, March 29th. They set an “equal weight” rating and a $173.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $169.56.

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, 2-channel vehicular 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.

Institutional Ownership by Quarter for Harris (NYSE:HRS)

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