Teachers Advisors LLC Has $23.20 Million Holdings in Harris Co. (HRS)

Teachers Advisors LLC cut its holdings in Harris Co. (NYSE:HRS) by 26.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 163,747 shares of the communications equipment provider’s stock after selling 58,355 shares during the period. Teachers Advisors LLC owned 0.14% of Harris worth $23,195,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HRS. Tower Research Capital LLC TRC raised its holdings in Harris by 980.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,243 shares of the communications equipment provider’s stock valued at $176,000 after acquiring an additional 1,128 shares during the last quarter. Calton & Associates Inc. acquired a new position in Harris in the 4th quarter valued at $180,000. First National Bank & Trust Co. of Newtown acquired a new position in Harris in the 4th quarter valued at $200,000. Koshinski Asset Management Inc. acquired a new position in Harris in the 4th quarter valued at $203,000. Finally, HL Financial Services LLC acquired a new position in Harris in the 4th quarter valued at $205,000. Institutional investors own 84.95% of the company’s stock.

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Shares of Harris Co. (NYSE:HRS) opened at $157.19 on Monday. The company has a market capitalization of $18,663.14, a price-to-earnings ratio of 26.55, a PEG ratio of 4.05 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 0.68 and a debt-to-equity ratio of 1.13. Harris Co. has a twelve month low of $106.18 and a twelve month high of $161.04.

Harris (NYSE:HRS) last released its quarterly earnings data on Tuesday, January 30th. The communications equipment provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.28. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.48 billion. Harris had a return on equity of 24.49% and a net margin of 8.63%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 EPS. research analysts predict that Harris Co. will post 6.48 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Thursday, March 8th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Wednesday, March 7th. This represents a $2.28 dividend on an annualized basis and a yield of 1.45%. Harris’s dividend payout ratio (DPR) is 53.90%.

In related news, SVP Scott T. Mikuen sold 20,000 shares of the company’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $151.18, for a total transaction of $3,023,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Dana A. Mehnert sold 51,200 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $153.19, for a total transaction of $7,843,328.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,882 shares of company stock valued at $12,221,320. 1.91% of the stock is owned by corporate insiders.

HRS has been the subject of a number of research analyst reports. ValuEngine upgraded Harris from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Cowen restated a “buy” rating and set a $170.00 price objective on shares of Harris in a report on Tuesday, January 30th. Zacks Investment Research upgraded Harris from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Thursday, January 18th. Finally, Credit Suisse Group upped their price objective on Harris from $167.00 to $187.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $154.57.

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Harris Company Profile

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, 2-channel vehicular 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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Institutional Ownership by Quarter for Harris (NYSE:HRS)

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