1,187 Shares in Harris Co. (HRS) Acquired by Hilltop Holdings Inc.

Hilltop Holdings Inc. purchased a new stake in shares of Harris Co. (NYSE:HRS) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,187 shares of the communications equipment provider’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fort L.P. purchased a new stake in shares of Harris during the 2nd quarter valued at about $118,000. Patton Albertson Miller Group LLC purchased a new stake in Harris in the 3rd quarter worth approximately $138,000. Harvest Fund Management Co. Ltd purchased a new stake in Harris in the 3rd quarter worth approximately $146,000. Cerebellum GP LLC increased its holdings in Harris by 2,067.3% in the 3rd quarter. Cerebellum GP LLC now owns 1,127 shares of the communications equipment provider’s stock worth $191,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Capital City Trust Co. FL purchased a new stake in Harris in the 3rd quarter worth approximately $203,000. 84.90% of the stock is owned by hedge funds and other institutional investors.

Harris stock opened at $148.47 on Friday. The company has a market capitalization of $17.47 billion, a P/E ratio of 22.84 and a beta of 1.27. Harris Co. has a 12-month low of $134.30 and a 12-month high of $175.50. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 1.05.

Harris (NYSE:HRS) last released its earnings results on Sunday, October 14th. The communications equipment provider reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.06. Harris had a net margin of 12.20% and a return on equity of 26.39%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $1.38 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts forecast that Harris Co. will post 7.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 23rd were issued a dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Wednesday, November 21st. Harris’s dividend payout ratio (DPR) is currently 42.15%.

Several research firms recently issued reports on HRS. Barclays reduced their target price on shares of Harris from $181.00 to $161.00 and set an “overweight” rating for the company in a report on Tuesday, December 4th. Raymond James increased their target price on shares of Harris from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, October 16th. ValuEngine lowered shares of Harris from a “buy” rating to a “hold” rating in a report on Saturday, December 1st. Finally, Credit Suisse Group increased their target price on shares of Harris from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Monday, October 15th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $180.89.

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About Harris

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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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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