Today, Kentucky Retirement Systems Insurance Trust Fund Buys 5,036 Shares of Harris Corp. (HRS)

Today, Kentucky Retirement Systems Insurance Trust Fund Buys 5,036  Shares of Harris Corp. (HRS)
Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Harris Corp. (NYSE:HRS) during the second quarter, Holdings Channel reports. The institutional investor purchased 5,036 shares of the company’s stock, valued at approximately $420,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Chevy Chase Trust Holdings Inc. increased its position in shares of Harris Corp. by 1.1% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 106,548 shares of the company’s stock worth $8,890,000 after buying an additional 1,156 shares during the last quarter. Newman Dignan & Sheerar Inc. boosted its position in Harris Corp. by 33.5% in the second quarter. Newman Dignan & Sheerar Inc. now owns 10,498 shares of the company’s stock worth $876,000 after buying an additional 2,635 shares during the period. Exxonmobil Investment Management Inc. TX boosted its position in Harris Corp. by 6.4% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 32,285 shares of the company’s stock worth $2,694,000 after buying an additional 1,935 shares during the period. DNB Asset Management AS boosted its position in Harris Corp. by 1.9% in the second quarter. DNB Asset Management AS now owns 10,467 shares of the company’s stock worth $873,000 after buying an additional 200 shares during the period. Finally, Raymond James Trust N.A. boosted its position in Harris Corp. by 6.2% in the second quarter. Raymond James Trust N.A. now owns 10,409 shares of the company’s stock worth $869,000 after buying an additional 612 shares during the period. Hedge funds and other institutional investors own 85.18% of the company’s stock.

Harris Corp. (NYSE:HRS) traded up 0.60% during midday trading on Friday, hitting $104.79. 169,990 shares of the company’s stock traded hands. Harris Corp. has a 52 week low of $70.97 and a 52 week high of $105.93. The company has a 50 day moving average of $95.83 and a 200-day moving average of $88.33. The company has a market capitalization of $13.02 billion, a PE ratio of 39.16 and a beta of 1.29.

Harris Corp. (NYSE:HRS) last posted its earnings results on Tuesday, November 1st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.05. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Harris Corp. had a return on equity of 22.84% and a net margin of 4.53%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business posted $1.31 earnings per share. Equities research analysts predict that Harris Corp. will post $5.80 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Friday, November 18th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, November 16th. Harris Corp.’s dividend payout ratio is currently 79.70%.

A number of research firms have recently weighed in on HRS. Seaport Global Securities began coverage on shares of Harris Corp. in a research note on Monday, November 7th. They set a “buy” rating and a $105.00 price target on the stock. Cowen and Company raised shares of Harris Corp. from a “market perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research note on Monday, November 7th. Zacks Investment Research raised shares of Harris Corp. from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research note on Thursday, November 3rd. Vertical Research began coverage on shares of Harris Corp. in a research note on Friday, October 28th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Citigroup Inc. lowered their price target on shares of Harris Corp. from $112.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, September 6th. Eleven research analysts have rated the stock with a buy rating, Harris Corp. presently has a consensus rating of “Buy” and an average target price of $101.89.

In related news, insider Edward J. Zoiss sold 1,884 shares of Harris Corp. stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $92.99, for a total transaction of $175,193.16. Following the sale, the insider now directly owns 1,702 shares in the company, valued at $158,268.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William H. Gattle sold 1,366 shares of Harris Corp. stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $93.75, for a total transaction of $128,062.50. Following the sale, the insider now owns 4,851 shares in the company, valued at $454,781.25. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

Harris Corp. Company Profile

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