BB&T Corp Trims Stake in Harris Corporation (HRS)

BB&T Corp trimmed its stake in Harris Corporation (NYSE:HRS) by 5.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,803 shares of the communications equipment provider’s stock after selling 571 shares during the period. BB&T Corp’s holdings in Harris were worth $1,531,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Prudential PLC raised its stake in shares of Harris by 25.5% in the 2nd quarter. Prudential PLC now owns 81,028 shares of the communications equipment provider’s stock valued at $8,839,000 after acquiring an additional 16,476 shares in the last quarter. KBC Group NV raised its stake in shares of Harris by 39.3% in the 3rd quarter. KBC Group NV now owns 18,473 shares of the communications equipment provider’s stock valued at $2,433,000 after acquiring an additional 5,216 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Harris by 10.2% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,416 shares of the communications equipment provider’s stock valued at $6,375,000 after acquiring an additional 4,500 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Harris in the 3rd quarter valued at approximately $540,000. Finally, New York State Common Retirement Fund raised its stake in shares of Harris by 2.3% in the 3rd quarter. New York State Common Retirement Fund now owns 272,500 shares of the communications equipment provider’s stock valued at $35,883,000 after acquiring an additional 6,000 shares in the last quarter. 84.50% of the stock is currently owned by institutional investors and hedge funds.

Harris Corporation (NYSE HRS) opened at $155.90 on Monday. The company has a quick ratio of 0.64, a current ratio of 1.22 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $18,510.01, a P/E ratio of 36.86, a price-to-earnings-growth ratio of 4.01 and a beta of 1.29. Harris Corporation has a 1 year low of $104.01 and a 1 year high of $160.67.

Harris (NYSE:HRS) last issued its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.28. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.48 billion. Harris had a return on equity of 24.49% and a net margin of 8.63%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 EPS. equities analysts anticipate that Harris Corporation will post 6.48 earnings per share for the current year.

HRS has been the topic of a number of recent analyst reports. Seaport Global Securities reissued a “buy” rating and issued a $145.00 price objective (up from $135.00) on shares of Harris in a research note on Monday, October 9th. Zacks Investment Research raised Harris from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research report on Monday, October 16th. Cowen reaffirmed a “buy” rating and issued a $150.00 price target on shares of Harris in a research report on Thursday, October 19th. Jefferies Group lifted their price target on Harris from $135.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $155.00 price target (up from $144.00) on shares of Harris in a research report on Wednesday, November 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Harris presently has an average rating of “Buy” and an average target price of $154.57.

TRADEMARK VIOLATION NOTICE: “BB&T Corp Trims Stake in Harris Corporation (HRS)” was reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this article on another site, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this article can be accessed at https://www.com-unik.info/2018/02/05/bbt-corp-trims-stake-in-harris-corporation-hrs.html.

About Harris

Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless and technology, among others, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services.

Want to see what other hedge funds are holding HRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harris Corporation (NYSE:HRS).

Institutional Ownership by Quarter for Harris (NYSE:HRS)

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit