ST Germain D J Co. Inc. Trims Stake in Harris Co. (HRS)

Share on StockTwits

ST Germain D J Co. Inc. trimmed its position in Harris Co. (NYSE:HRS) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,848 shares of the communications equipment provider’s stock after selling 100 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Harris were worth $1,326,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HRS. Sabal Trust CO increased its position in shares of Harris by 5.2% during the fourth quarter. Sabal Trust CO now owns 1,621 shares of the communications equipment provider’s stock worth $218,000 after purchasing an additional 80 shares in the last quarter. Daiwa SB Investments Ltd. boosted its stake 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 worth $125,000 after acquiring an additional 100 shares in the last quarter. Securian Asset Management Inc boosted its stake in shares of Harris by 0.9% during the 4th quarter. Securian Asset Management Inc now owns 12,126 shares of the communications equipment provider’s stock worth $1,633,000 after acquiring an additional 105 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Harris by 1.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,293 shares of the communications equipment provider’s stock worth $982,000 after acquiring an additional 113 shares in the last quarter. Finally, Contravisory Investment Management Inc. lifted its stake in Harris by 4.4% in the 4th quarter. Contravisory Investment Management Inc. now owns 2,924 shares of the communications equipment provider’s stock valued at $394,000 after buying an additional 122 shares in the last quarter. 86.10% of the stock is currently owned by hedge funds and other institutional investors.

HRS stock traded up $1.32 on Monday, hitting $161.48. 271,779 shares of the company were exchanged, compared to its average volume of 1,225,134. Harris Co. has a twelve month low of $123.24 and a twelve month high of $175.50. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.04 and a current ratio of 1.27. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 2.50 and a beta of 1.23.

Harris (NYSE:HRS) last released its quarterly earnings data on Tuesday, January 29th. The communications equipment provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.05. The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.63 billion. Harris had a net margin of 13.29% and a return on equity of 26.55%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 earnings per share. As a group, equities analysts forecast that Harris Co. will post 8.01 EPS for the current fiscal year.

A number of analysts have commented on HRS shares. Barclays cut their price objective on shares of Harris from $181.00 to $161.00 and set an “overweight” rating for the company in a report on Tuesday, December 4th. Argus increased their price objective on shares of Harris from $170.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 30th. Cowen reaffirmed a “buy” rating and set a $194.00 price objective on shares of Harris in a research report on Thursday. Raymond James raised their price target on shares of Harris from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, October 16th. Finally, ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $182.33.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by Week Herald and is the sole property of of Week Herald. If you are reading this news story on another domain, it was stolen and republished in violation of United States and international copyright & trademark laws. The correct version of this news story can be viewed at https://weekherald.com/2019/02/11/st-germain-d-j-co-inc-trims-stake-in-harris-co-hrs.html.

Harris 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.

Further Reading: Balance Sheet

Want to see what other hedge funds are holding HRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harris Co. (NYSE:HRS).

Institutional Ownership by Quarter for Harris (NYSE:HRS)

Receive News & Ratings for Harris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply