WINTON GROUP Ltd Trims Holdings in Harris Corporation (HRS)

WINTON GROUP Ltd trimmed its holdings in shares of Harris Corporation (NYSE:HRS) by 87.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,550 shares of the communications equipment provider’s stock after selling 53,086 shares during the quarter. WINTON GROUP Ltd’s holdings in Harris were worth $994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prudential PLC grew its holdings in Harris by 25.5% during the 2nd quarter. Prudential PLC now owns 81,028 shares of the communications equipment provider’s stock worth $8,839,000 after acquiring an additional 16,476 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Harris in the 2nd quarter valued at $2,342,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Harris in the 2nd quarter valued at $2,368,000. Principal Financial Group Inc. boosted its stake in shares of Harris by 90.1% in the 2nd quarter. Principal Financial Group Inc. now owns 675,756 shares of the communications equipment provider’s stock valued at $73,710,000 after purchasing an additional 320,216 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Harris by 58.9% in the 2nd quarter. Amalgamated Bank now owns 13,916 shares of the communications equipment provider’s stock valued at $1,518,000 after purchasing an additional 5,159 shares during the last quarter. 84.41% of the stock is currently owned by hedge funds and other institutional investors.

Harris Corporation (NYSE:HRS) traded up $0.89 on Wednesday, reaching $142.58. 705,100 shares of the company’s stock traded hands, compared to its average volume of 749,620. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 1.11. Harris Corporation has a 1 year low of $99.13 and a 1 year high of $144.94. The firm has a market capitalization of $16,899.66, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 3.38 and a beta of 1.12.

Harris (NYSE:HRS) last released its quarterly earnings data on Tuesday, October 31st. The communications equipment provider reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.03. Harris had a net margin of 9.02% and a return on equity of 23.36%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The business’s revenue was down .5% on a year-over-year basis. analysts forecast that Harris Corporation will post 5.99 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a dividend of $0.57 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.28 annualized dividend and a yield of 1.60%. Harris’s payout ratio is 50.89%.

In other Harris news, SVP Scott T. Mikuen sold 13,600 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the transaction, the senior vice president now owns 61,349 shares in the company, valued at $7,568,012.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.91% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Jefferies Group reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Harris in a research note on Thursday, September 21st. J P Morgan Chase & Co upped their price objective on shares of Harris from $138.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cowen reiterated a “buy” rating and set a $134.00 target price (up previously from $125.00) on shares of Harris in a research report on Tuesday, September 12th. Finally, Zacks Investment Research upgraded shares of Harris from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a research report on Monday, October 16th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Harris presently has an average rating of “Buy” and an average price target of $145.43.

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About Harris

Institutional Ownership by Quarter for Harris (NYSE:HRS)

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