Trade Report: Today, Chevy Chase Trust Holdings Inc. Sold shares of Harris Corp. (HRS)

Today, Chevy Chase Trust Holdings Inc. Sold shares of Harris Corp. (HRS)

Chevy Chase Trust Holdings Inc. decreased its position in shares of Harris Corp. (NYSE:HRS) by 2.7% during the third quarter, Holdings Channel reports. The firm owned 103,656 shares of the company’s stock after selling 2,892 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Harris Corp. were worth $9,496,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HRS. Global X Management Co. LLC boosted its stake in Harris Corp. by 81.0% in the second quarter. Global X Management Co. LLC now owns 1,419 shares of the company’s stock worth $118,000 after buying an additional 635 shares during the period. Mizuho Asset Management Co. Ltd. boosted its stake in Harris Corp. by 178.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,661 shares of the company’s stock worth $139,000 after buying an additional 1,064 shares during the period. Huntington National Bank boosted its stake in Harris Corp. by 24.1% in the second quarter. Huntington National Bank now owns 1,702 shares of the company’s stock worth $142,000 after buying an additional 330 shares during the period. Seven Eight Capital LLC acquired a new stake in Harris Corp. during the first quarter worth approximately $160,000. Finally, SevenBridge Financial Group LLC acquired a new stake in Harris Corp. during the second quarter worth approximately $200,000. Hedge funds and other institutional investors own 84.03% of the company’s stock.

Shares of Harris Corp. (NYSE:HRS) traded down 0.74% during mid-day trading on Monday, hitting $104.01. 930,277 shares of the stock were exchanged. The stock has a market cap of $12.93 billion, a PE ratio of 38.87 and a beta of 1.29. Harris Corp. has a one year low of $70.97 and a one year high of $105.93. The company has a 50-day moving average of $95.83 and a 200 day moving average of $88.33.

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

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

A number of brokerages recently weighed in on HRS. Seaport Global Securities began coverage on shares of Harris Corp. in a research note on Monday, November 7th. They issued 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. Citigroup Inc. decreased 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. 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. Finally, Vertical Research began coverage on shares of Harris Corp. in a research note on Friday, October 28th. They issued a “buy” rating and a $100.00 price target on the stock. Eleven analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $101.89.

In other Harris Corp. news, insider Edward J. Zoiss sold 1,884 shares of the company’s 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 transaction, 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 Securities & Exchange Commission, which is available at this link. Also, insider William H. Gattle sold 1,366 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $93.75, for a total transaction of $128,062.50. Following the transaction, the insider now owns 4,851 shares in the company, valued at $454,781.25. The disclosure for this sale can be found here. Company insiders own 1.71% of the company’s stock.

About Harris Corp.

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