Harris Co. (HRS) Position Boosted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in Harris Co. (NYSE:HRS) by 19.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 23,702 shares of the communications equipment provider’s stock after purchasing an additional 3,859 shares during the period. Daiwa Securities Group Inc.’s holdings in Harris were worth $3,191,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Harris by 15.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,344,309 shares of the communications equipment provider’s stock valued at $227,471,000 after buying an additional 178,395 shares during the period. Bessemer Group Inc. boosted its stake in shares of Harris by 21.4% during the 3rd quarter. Bessemer Group Inc. now owns 904,550 shares of the communications equipment provider’s stock valued at $153,060,000 after buying an additional 159,468 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Harris by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 721,763 shares of the communications equipment provider’s stock valued at $122,123,000 after buying an additional 6,716 shares during the period. Legal & General Group Plc boosted its stake in shares of Harris by 5.5% during the 3rd quarter. Legal & General Group Plc now owns 624,475 shares of the communications equipment provider’s stock valued at $105,621,000 after buying an additional 32,503 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Harris by 10.1% during the 3rd quarter. Alliancebernstein L.P. now owns 541,474 shares of the communications equipment provider’s stock valued at $91,623,000 after buying an additional 49,668 shares during the period. 86.10% of the stock is owned by hedge funds and other institutional investors.

HRS has been the subject of a number of research reports. Zacks Investment Research raised shares of Harris from a “hold” rating to a “buy” rating and set a $174.00 target price for the company in a research note on Thursday, January 31st. ValuEngine lowered shares of Harris from a “buy” rating to a “hold” rating in a research note on Saturday, December 1st. Cowen reissued a “buy” rating and set a $194.00 target price on shares of Harris in a research note on Tuesday, January 29th. Barclays upgraded shares of Harris from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $189.00 to $181.00 in a report on Tuesday, November 13th. Finally, Raymond James raised their price target on shares of Harris from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday, October 16th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $182.33.

In related news, SVP Robert L. Duffy sold 40,000 shares of Harris stock in a transaction on Friday, February 8th. The shares were sold at an average price of $158.66, for a total value of $6,346,400.00. Following the transaction, the senior vice president now owns 63,918 shares in the company, valued at approximately $10,141,229.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.51% of the company’s stock.

Shares of HRS opened at $162.08 on Wednesday. The firm has a market capitalization of $18.99 billion, a P/E ratio of 24.94, a PEG ratio of 2.50 and a beta of 1.23. Harris Co. has a one year low of $123.24 and a one year high of $175.50. The company has a current ratio of 1.27, a quick ratio of 1.04 and a debt-to-equity ratio of 1.00.

Harris (NYSE:HRS) last announced its earnings results on Tuesday, January 29th. The communications equipment provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.91 by $0.05. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.63 billion. Harris had a net margin of 13.29% and a return on equity of 26.55%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.67 EPS. On average, research analysts expect that Harris Co. will post 8.01 EPS for the current fiscal year.

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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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