Chevy Chase Trust Holdings Inc. reduced its holdings in Harris Corporation (NYSE:HRS) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,862 shares of the communications equipment provider’s stock after selling 465 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.09% of Harris worth $13,808,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BB&T Investment Services Inc. bought a new position in Harris in the second quarter valued at $113,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Harris by 110.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock valued at $131,000 after acquiring an additional 632 shares during the period. BT Investment Management Ltd bought a new position in shares of Harris in the 2nd quarter valued at about $157,000. Stephens Inc. AR bought a new position in shares of Harris in the 2nd quarter valued at about $167,000. Finally, Ropes Wealth Advisors LLC grew its position in shares of Harris by 5.4% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock valued at $178,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 84.41% of the company’s stock.
Shares of Harris Corporation (NYSE HRS) traded down $1.22 during trading on Wednesday, hitting $141.42. 662,300 shares of the company traded hands, compared to its average volume of 743,801. The company has a market cap of $17,002.77, a price-to-earnings ratio of 25.16, a PEG ratio of 3.40 and a beta of 1.12. The company has a quick ratio of 0.64, a current ratio of 1.11 and a debt-to-equity ratio of 1.14. Harris Corporation has a 12 month low of $99.13 and a 12 month high of $144.94.
The firm also recently announced 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. This represents a $2.28 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Thursday, November 16th. Harris’s payout ratio is 50.89%.
Several brokerages recently commented on HRS. Cowen reaffirmed a “buy” rating and set a $134.00 target price (up previously from $125.00) on shares of Harris in a report on Tuesday, September 12th. Zacks Investment Research upgraded shares of Harris from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. ValuEngine cut shares of Harris from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Seaport Global Securities restated a “buy” rating and issued a $145.00 target price (up from $135.00) on shares of Harris in a research report on Monday, October 9th. Finally, Jefferies Group boosted their target price on shares of Harris from $135.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $145.43.
TRADEMARK VIOLATION WARNING: This piece of content was reported by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.com-unik.info/2017/12/13/chevy-chase-trust-holdings-inc-has-13-81-million-position-in-harris-corporation-hrs.html.
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.