Harris Corporation (NYSE:HRS) Stake Boosted by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its stake in Harris Corporation (NYSE:HRS) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 234,993 shares of the communications equipment provider’s stock after acquiring an additional 13,922 shares during the period. Asset Management One Co. Ltd. owned approximately 0.20% of Harris worth $30,917,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Korea Investment CORP increased its stake in shares of Harris by 166.3% in the second quarter. Korea Investment CORP now owns 14,853 shares of the communications equipment provider’s stock worth $1,620,000 after buying an additional 9,276 shares during the last quarter. Trexquant Investment LP boosted its holdings in shares of Harris by 41.7% during the second quarter. Trexquant Investment LP now owns 3,400 shares of the communications equipment provider’s stock valued at $371,000 after acquiring an additional 1,000 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Harris by 220.8% during the second quarter. Canada Pension Plan Investment Board now owns 2,820 shares of the communications equipment provider’s stock valued at $308,000 after acquiring an additional 1,941 shares during the period. First Trust Advisors LP boosted its holdings in shares of Harris by 169.3% during the second quarter. First Trust Advisors LP now owns 180,717 shares of the communications equipment provider’s stock valued at $19,713,000 after acquiring an additional 113,621 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Harris by 33.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 17,570 shares of the communications equipment provider’s stock valued at $1,988,000 after acquiring an additional 4,416 shares during the period. 84.28% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on HRS shares. Cowen reissued a “buy” rating and set a $134.00 price target (up previously from $125.00) on shares of Harris in a report on Tuesday, September 12th. Zacks Investment Research raised shares of Harris from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Jefferies Group reissued a “buy” rating and issued a $135.00 price target on shares of Harris in a report on Thursday, September 21st. ValuEngine downgraded shares of Harris from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Seaport Global Securities restated a “buy” rating and set a $145.00 price objective (up previously from $135.00) on shares of Harris in a report on Monday, October 9th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $145.43.

Harris Corporation (NYSE HRS) traded up $0.42 on Tuesday, hitting $142.07. The stock had a trading volume of 929,700 shares, compared to its average volume of 669,568. Harris Corporation has a 12 month low of $99.13 and a 12 month high of $144.94. The company has a quick ratio of 0.64, a current ratio of 1.11 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $16,930.00, a PE ratio of 26.56, a price-to-earnings-growth ratio of 3.38 and a beta of 1.12.

Harris (NYSE:HRS) last issued its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.44 billion. Harris had a return on equity of 23.36% and a net margin of 9.02%. Harris’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share. equities research analysts anticipate that Harris Corporation will post 5.99 EPS for the current fiscal year.

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Harris Company Profile

Institutional Ownership by Quarter for Harris (NYSE:HRS)

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