Harris Co. (HRS) Holdings Trimmed by Alps Advisors Inc.

Alps Advisors Inc. lessened its holdings in shares of Harris Co. (NYSE:HRS) by 7.0% during the first quarter, Holdings Channel reports. The institutional investor owned 3,035 shares of the communications equipment provider’s stock after selling 227 shares during the quarter. Alps Advisors Inc.’s holdings in Harris were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Janus Henderson Group PLC increased its position in Harris by 14.7% during the first quarter. Janus Henderson Group PLC now owns 5,078,411 shares of the communications equipment provider’s stock worth $811,076,000 after buying an additional 652,182 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Harris by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 1,535,717 shares of the communications equipment provider’s stock valued at $206,424,000 after purchasing an additional 59,854 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Harris by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,472,230 shares of the communications equipment provider’s stock valued at $198,236,000 after purchasing an additional 37,676 shares during the last quarter. Northern Trust Corp grew its position in shares of Harris by 1.5% in the fourth quarter. Northern Trust Corp now owns 1,301,314 shares of the communications equipment provider’s stock valued at $175,222,000 after purchasing an additional 19,339 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Harris in the fourth quarter valued at approximately $150,507,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Harris stock opened at $181.47 on Tuesday. Harris Co. has a 12 month low of $123.24 and a 12 month high of $183.12. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.15 and a current ratio of 1.42. The company has a market capitalization of $21.40 billion, a PE ratio of 27.92, a PEG ratio of 2.78 and a beta of 1.23.



Harris (NYSE:HRS) last posted its earnings results on Wednesday, May 1st. The communications equipment provider reported $2.11 EPS for the quarter, beating the consensus estimate of $2.04 by $0.07. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.70 billion. Harris had a return on equity of 27.13% and a net margin of 13.60%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share. On average, analysts anticipate that Harris Co. will post 8.15 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, May 17th will be paid a $0.685 dividend. This represents a $2.74 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, May 16th. Harris’s dividend payout ratio (DPR) is currently 42.15%.

Several equities analysts have recently commented on HRS shares. ValuEngine raised Harris from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Cowen reaffirmed 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. Raymond James upped their target price on Harris from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Argus upped their target price on Harris from $170.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 30th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $190.63.

In related news, insider William H. Gattle sold 5,131 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $178.71, for a total value of $916,961.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert L. Duffy sold 9,124 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $179.99, for a total value of $1,642,228.76. The disclosure for this sale can be found here. Insiders own 2.51% of the company’s stock.

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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, 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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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)

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