TNB Financial Increases Position in Harris Corporation (NYSE:HRS)

TNB Financial raised its position in Harris Corporation (NYSE:HRS) by 14.2% during the second quarter, Holdings Channel reports. The fund owned 2,740 shares of the communications equipment provider’s stock after buying an additional 340 shares during the period. TNB Financial’s holdings in Harris Corporation were worth $299,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of Harris Corporation by 3,267.9% in the first quarter. BlackRock Inc. now owns 7,670,217 shares of the communications equipment provider’s stock worth $853,463,000 after buying an additional 7,442,472 shares during the last quarter. Janus Capital Management LLC increased its stake in shares of Harris Corporation by 253.7% in the first quarter. Janus Capital Management LLC now owns 2,165,991 shares of the communications equipment provider’s stock worth $241,010,000 after buying an additional 1,553,628 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Harris Corporation by 20,790.1% in the first quarter. Private Advisor Group LLC now owns 764,788 shares of the communications equipment provider’s stock worth $9,623,000 after buying an additional 761,127 shares during the last quarter. FMR LLC increased its stake in shares of Harris Corporation by 38.6% in the first quarter. FMR LLC now owns 1,587,040 shares of the communications equipment provider’s stock worth $176,590,000 after buying an additional 441,769 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Harris Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,291,259 shares of the communications equipment provider’s stock worth $1,478,919,000 after buying an additional 379,265 shares during the last quarter. Hedge funds and other institutional investors own 85.64% of the company’s stock.

Shares of Harris Corporation (NYSE:HRS) traded down 1.47% during mid-day trading on Monday, hitting $113.49. The stock had a trading volume of 1,058,209 shares. The stock’s 50-day moving average is $110.14 and its 200 day moving average is $108.08. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 24.40 and a beta of 1.22. Harris Corporation has a 1-year low of $84.70 and a 1-year high of $116.09.

Harris Corporation (NYSE:HRS) last issued its quarterly earnings data on Wednesday, May 3rd. The communications equipment provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.31 by $0.07. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. Harris Corporation had a net margin of 8.50% and a return on equity of 23.25%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 earnings per share. Equities research analysts predict that Harris Corporation will post $5.52 EPS for the current fiscal year.

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A number of analysts have weighed in on HRS shares. Zacks Investment Research downgraded Harris Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Barclays PLC downgraded Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price target for the company. in a report on Monday, May 1st. Cowen and Company reiterated a “buy” rating and set a $125.00 price target on shares of Harris Corporation in a report on Thursday, July 6th. Finally, BidaskClub downgraded Harris Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $110.75.

In other news, SVP Robert L. Duffy sold 33,600 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $112.01, for a total transaction of $3,763,536.00. Following the completion of the transaction, the senior vice president now directly owns 50,311 shares of the company’s stock, valued at $5,635,335.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.71% of the company’s stock.

Harris Corporation Company Profile

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 Corporation (NYSE:HRS)

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