3,216 Shares in Harris Corporation (HRS) Acquired by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA bought a new position in shares of Harris Corporation (NYSE:HRS) in the 4th quarter, HoldingsChannel.com reports. The fund bought 3,216 shares of the communications equipment provider’s stock, valued at approximately $456,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. EP Wealth Advisors LLC grew its stake in Harris by 1.0% during the second quarter. EP Wealth Advisors LLC now owns 1,875 shares of the communications equipment provider’s stock worth $205,000 after purchasing an additional 19 shares during the period. Thrivent Financial For Lutherans grew its stake in Harris by 0.6% during the second quarter. Thrivent Financial For Lutherans now owns 4,685 shares of the communications equipment provider’s stock worth $511,000 after purchasing an additional 30 shares during the period. Ropes Wealth Advisors LLC grew its stake in Harris by 5.4% during the second quarter. Ropes Wealth Advisors LLC now owns 1,635 shares of the communications equipment provider’s stock worth $178,000 after purchasing an additional 84 shares during the period. Advisor Group Inc. grew its stake in Harris by 1.8% during the second quarter. Advisor Group Inc. now owns 5,262 shares of the communications equipment provider’s stock worth $547,000 after purchasing an additional 94 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in Harris by 6.3% during the second quarter. Coldstream Capital Management Inc. now owns 6,037 shares of the communications equipment provider’s stock worth $659,000 after purchasing an additional 357 shares during the period. 84.29% of the stock is owned by institutional investors and hedge funds.

Shares of Harris Corporation (HRS) traded up $1.84 during trading on Wednesday, reaching $147.61. The company’s stock had a trading volume of 620,747 shares, compared to its average volume of 638,091. The company has a quick ratio of 0.64, a current ratio of 1.11 and a debt-to-equity ratio of 1.14. Harris Corporation has a 12-month low of $99.13 and a 12-month high of $148.73. The firm has a market capitalization of $17,530.00, a PE ratio of 27.59, a PEG ratio of 4.09 and a beta of 1.13.

Harris (NYSE:HRS) last announced its quarterly earnings data on Tuesday, October 31st. The communications equipment provider reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.03. Harris had a return on equity of 23.36% and a net margin of 9.02%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. analysts expect that Harris Corporation will post 5.99 earnings per share for the current fiscal year.

Several research firms recently commented on HRS. Cowen reaffirmed a “buy” rating and set a $150.00 target price on shares of Harris in a research note on Tuesday, October 31st. Zacks Investment Research raised Harris from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. ValuEngine cut Harris from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. JPMorgan Chase & Co. raised their price objective on Harris from $138.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Finally, Jefferies Group reissued a “buy” rating and issued a $135.00 price objective on shares of Harris in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $145.43.

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Harris Profile

Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless and technology, among others, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services.

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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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