Tower View Investment Management & Research LLC increased its holdings in Harris Co. (NYSE:HRS) by 19.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,143 shares of the communications equipment provider’s stock after purchasing an additional 2,478 shares during the period. Harris makes up 2.1% of Tower View Investment Management & Research LLC’s investment portfolio, making the stock its 22nd biggest holding. Tower View Investment Management & Research LLC’s holdings in Harris were worth $2,039,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of HRS. JGP Wealth Management LLC raised its position in shares of Harris by 1.3% in the 3rd quarter. JGP Wealth Management LLC now owns 13,827 shares of the communications equipment provider’s stock valued at $2,357,000 after buying an additional 172 shares in the last quarter. Panagora Asset Management Inc. increased its position in Harris by 1.9% during the 3rd quarter. Panagora Asset Management Inc. now owns 17,897 shares of the communications equipment provider’s stock worth $3,028,000 after purchasing an additional 338 shares in the last quarter. GAM Holding AG increased its position in Harris by 3.3% during the 3rd quarter. GAM Holding AG now owns 10,778 shares of the communications equipment provider’s stock worth $1,824,000 after purchasing an additional 345 shares in the last quarter. Bridgeworth LLC increased its position in Harris by 28.0% during the 2nd quarter. Bridgeworth LLC now owns 1,600 shares of the communications equipment provider’s stock worth $230,000 after purchasing an additional 350 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in Harris by 0.4% during the 3rd quarter. Sterling Capital Management LLC now owns 82,375 shares of the communications equipment provider’s stock worth $13,939,000 after purchasing an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 84.80% of the company’s stock.
A number of equities analysts recently issued reports on HRS shares. Raymond James upped their price objective on shares of Harris from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 16th. Credit Suisse Group boosted 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. Barclays raised shares of Harris from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $189.00 to $181.00 in a report on Tuesday, November 13th. Zacks Investment Research lowered shares of Harris from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. Finally, ValuEngine lowered shares of Harris from a “buy” rating to a “hold” rating in a report on Saturday, December 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $180.89.
NYSE HRS traded up $0.62 on Friday, hitting $135.51. 32,047 shares of the company were exchanged, compared to its average volume of 1,058,372. The firm has a market cap of $15.69 billion, a PE ratio of 20.77 and a beta of 1.17. Harris Co. has a 12 month low of $123.24 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 issued 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. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. Harris had a net margin of 12.20% and a return on equity of 26.39%. Harris’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 earnings per share. On average, equities analysts predict that Harris Co. will post 7.86 earnings per share for the current year.
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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