Financial Gravity Companies Inc. Acquires New Holdings in Harris Co. (HRS)

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Financial Gravity Companies Inc. acquired a new stake in shares of Harris Co. (NYSE:HRS) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 436 shares of the communications equipment provider’s stock, valued at approximately $67,000.

Several other institutional investors and hedge funds have also modified their holdings of HRS. Oppenheimer Asset Management Inc. acquired a new position in shares of Harris in the 4th quarter valued at $31,000. Patton Albertson Miller Group LLC acquired a new position in shares of Harris in the 3rd quarter valued at $138,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Harris in the 3rd quarter valued at $146,000. Parkside Financial Bank & Trust increased its position in shares of Harris by 19.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 920 shares of the communications equipment provider’s stock valued at $124,000 after acquiring an additional 153 shares during the period. Finally, Daiwa SB Investments Ltd. increased its position in shares of Harris by 12.0% in the 4th quarter. Daiwa SB Investments Ltd. now owns 930 shares of the communications equipment provider’s stock valued at $125,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 86.10% of the company’s stock.

HRS has been the topic of several research reports. Cowen reissued a “buy” rating and issued a $194.00 target price on shares of Harris in a research report on Thursday, February 7th. Zacks Investment Research raised Harris from a “hold” rating to a “buy” rating and set a $174.00 target price on the stock in a research report on Thursday, January 31st. ValuEngine raised Harris from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Raymond James upped their target price on Harris from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, October 16th. Finally, Credit Suisse Group upped their target price on Harris from $190.00 to $209.00 and gave the company an “outperform” rating in a research report on Monday, October 15th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Harris currently has a consensus rating of “Buy” and a consensus price target of $182.33.

NYSE HRS opened at $160.66 on Tuesday. The firm has a market capitalization of $18.84 billion, a P/E ratio of 24.72, a PEG ratio of 2.50 and a beta of 1.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.04 and a current ratio of 1.27. Harris Co. has a 1 year low of $123.24 and a 1 year high of $175.50.

Harris (NYSE:HRS) last announced its quarterly earnings results on Tuesday, January 29th. The communications equipment provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.63 billion. Harris had a return on equity of 26.55% and a net margin of 13.29%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $1.67 EPS. On average, analysts expect that Harris Co. will post 8.01 earnings per share for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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