Moisand Fitzgerald Tamayo LLC purchased a new position in Harris Co. (NYSE:HRS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,904 shares of the communications equipment provider’s stock, valued at approximately $212,000.
Other institutional investors have also modified their holdings of the company. Contravisory Investment Management Inc. increased its position in shares of Harris by 303.3% in the first quarter. Contravisory Investment Management Inc. now owns 1,222 shares of the communications equipment provider’s stock worth $136,000 after buying an additional 919 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Harris during the fourth quarter worth about $160,000. Ropes Wealth Advisors LLC increased its position in shares of Harris by 198.8% in the first quarter. Ropes Wealth Advisors LLC now owns 1,551 shares of the communications equipment provider’s stock worth $173,000 after buying an additional 1,032 shares in the last quarter. Fulton Bank N.A. acquired a new position in shares of Harris during the first quarter worth about $202,000. Finally, Canandaigua National Bank & Trust Co. acquired a new position in shares of Harris during the first quarter worth about $203,000. Institutional investors own 83.24% of the company’s stock.
Harris (NYSE:HRS) last announced its quarterly earnings results on Wednesday, May 3rd. The communications equipment provider reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.07. Harris had a return on equity of 22.73% and a net margin of 9.15%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company earned $1.45 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, May 31st. Harris’s payout ratio is currently 40.08%.
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HRS has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Harris from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research report on Monday, April 10th. Jefferies Group LLC set a $120.00 target price on Harris and gave the company a “buy” rating in a research report on Thursday, March 16th. Finally, Barclays PLC downgraded Harris from an “overweight” rating to an “equal weight” rating and set a $110.00 target price on the stock. in a research report on Monday, May 1st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Harris has an average rating of “Buy” and a consensus price target of $107.25.
In related news, SVP Scott T. Mikuen sold 20,600 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $109.71, for a total value of $2,260,026.00. Following the sale, the senior vice president now owns 68,313 shares of the company’s stock, valued at approximately $7,494,619.23. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.71% of the stock is currently owned by corporate insiders.
Harris Company Profile
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