Harris Corporation (HRS) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its position in Harris Corporation (NYSE:HRS) by 4.8% during the second quarter, Holdings Channel reports. The institutional investor owned 59,635 shares of the communications equipment provider’s stock after selling 3,019 shares during the period. Advisors Asset Management Inc.’s holdings in Harris Corporation were worth $6,505,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HRS. Harwood Advisory Group LLC increased its position in shares of Harris Corporation by 0.5% in the first quarter. Harwood Advisory Group LLC now owns 2,110 shares of the communications equipment provider’s stock worth $235,000 after buying an additional 10 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Harris Corporation by 5.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,314 shares of the communications equipment provider’s stock worth $345,000 after buying an additional 165 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Harris Corporation by 19.2% in the first quarter. Nationwide Fund Advisors now owns 221,059 shares of the communications equipment provider’s stock worth $24,597,000 after buying an additional 35,590 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its position in shares of Harris Corporation by 3.4% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 25,552 shares of the communications equipment provider’s stock worth $2,843,000 after buying an additional 850 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Harris Corporation during the first quarter worth approximately $602,000. 83.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Harris Corporation (NYSE HRS) opened at 119.79 on Wednesday. The stock has a market cap of $14.41 billion, a P/E ratio of 27.00 and a beta of 1.22. The company has a 50 day moving average price of $114.50 and a 200 day moving average price of $110.90. Harris Corporation has a 12-month low of $88.89 and a 12-month high of $120.54.

Harris Corporation (NYSE:HRS) last issued its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share for the quarter, hitting the consensus estimate of $1.49. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $1.45 EPS. Analysts anticipate that Harris Corporation will post $6.00 earnings per share for the current fiscal year.

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A number of equities analysts recently commented on HRS shares. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Cowen and Company reiterated a “buy” rating and set a $125.00 price objective on shares of Harris Corporation in a research report on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and set a $135.00 price objective (up previously from $125.00) on shares of Harris Corporation in a research report on Friday, July 14th. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Barclays PLC downgraded Harris Corporation 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $113.29.

In related news, insider Christopher D. Young sold 4,070 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $118.93, for a total value of $484,045.10. Following the transaction, the insider now directly owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert L. Duffy sold 33,600 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $112.01, for a total value of $3,763,536.00. Following the completion of the transaction, the senior vice president now directly owns 50,311 shares in the company, valued at $5,635,335.11. The disclosure for this sale can be found here. Company 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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