3,302 Shares in Harris Co. (HRS) Acquired by Lido Advisors LLC

Lido Advisors LLC bought a new stake in Harris Co. (NYSE:HRS) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,302 shares of the communications equipment provider’s stock, valued at approximately $532,000.

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

Several research firms have commented on HRS. Credit Suisse Group dropped their target price on Harris from $189.00 to $175.00 and set an “outperform” rating for the company in a research report on Tuesday. Zacks Investment Research downgraded Harris from a “hold” rating to a “sell” rating in a research report on Tuesday, April 17th. Cowen reiterated a “buy” rating and issued a $170.00 target price on shares of Harris in a research report on Tuesday, January 30th. Argus began coverage on Harris in a research report on Wednesday, April 4th. They issued a “buy” rating and a $196.00 target price for the company. Finally, Barclays began coverage on Harris in a research report on Thursday, March 29th. They issued an “equal weight” rating and a $173.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Harris presently has a consensus rating of “Buy” and an average price target of $168.00.

Shares of Harris opened at $153.93 on Thursday, according to MarketBeat. Harris Co. has a 1 year low of $107.78 and a 1 year high of $170.54. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 1.08. The stock has a market cap of $17.90 billion, a PE ratio of 27.84, a P/E/G ratio of 3.88 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, topping the Zacks’ consensus estimate of $1.63 by $0.04. Harris had a return on equity of 25.07% and a net margin of 10.43%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company earned $1.38 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. research analysts anticipate that Harris Co. will post 6.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.48%. Harris’s dividend payout ratio (DPR) is 41.23%.

In other Harris news, SVP Dana A. Mehnert sold 51,200 shares of Harris 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 Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Scott T. Mikuen sold 20,000 shares of Harris 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. 1.91% of the stock is owned by company insiders.

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.

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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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