Todays Report: Today, Mutual of America Capital Management LLC Reduces Position in Harris Corp. (HRS)

Today, Mutual of America Capital Management LLC Reduces Position in Harris Corp. (HRS)

Mutual of America Capital Management LLC cut its stake in shares of Harris Corp. (NYSE:HRS) by 0.5% during the third quarter, Holdings Channel reports. The institutional investor owned 25,215 shares of the company’s stock after selling 132 shares during the period. Mutual of America Capital Management LLC’s holdings in Harris Corp. were worth $2,310,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of Harris Corp. by 5.0% in the third quarter. Nordea Investment Management AB now owns 479,711 shares of the company’s stock valued at $43,946,000 after buying an additional 23,001 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. raised its position in shares of Harris Corp. by 2.4% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 201,683 shares of the company’s stock valued at $18,476,000 after buying an additional 4,657 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new position in shares of Harris Corp. during the third quarter valued at approximately $12,431,000. Huntington National Bank raised its position in shares of Harris Corp. by 471.7% in the third quarter. Huntington National Bank now owns 9,731 shares of the company’s stock valued at $892,000 after buying an additional 8,029 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Harris Corp. by 1.8% in the third quarter. Advisors Asset Management Inc. now owns 52,964 shares of the company’s stock valued at $4,852,000 after buying an additional 942 shares in the last quarter. Institutional investors own 84.03% of the company’s stock.

Shares of Harris Corp. (NYSE:HRS) traded down 0.74% during midday trading on Monday, hitting $104.01. The company had a trading volume of 956,107 shares. Harris Corp. has a 12 month low of $70.97 and a 12 month high of $105.93. The stock’s 50-day moving average price is $96.15 and its 200-day moving average price is $88.71. The company has a market cap of $12.93 billion, a price-to-earnings ratio of 38.87 and a beta of 1.29.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Friday, November 18th will be issued 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 2.04%. Harris Corp.’s dividend payout ratio is presently 79.70%.

Several equities research analysts have recently weighed in on the company. Seaport Global Securities assumed coverage on Harris Corp. in a report on Monday, November 7th. They issued a “buy” rating and a $105.00 price objective for the company. Cowen and Company raised Harris Corp. from a “market perform” rating to an “outperform” rating and set a $107.00 price objective for the company in a report on Monday, November 7th. Zacks Investment Research raised Harris Corp. from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a report on Thursday, November 3rd. Vertical Research assumed coverage on Harris Corp. in a report on Friday, October 28th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Citigroup Inc. decreased their price objective on Harris Corp. from $112.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, September 6th. Eleven research analysts have rated the stock with a buy rating, Harris Corp. currently has a consensus rating of “Buy” and an average target price of $101.89.

In other Harris Corp. news, insider Edward J. Zoiss sold 1,884 shares of Harris Corp. stock in a transaction that occurred on Thursday, November 3rd. The stock was 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 approximately $158,268.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William H. Gattle sold 1,366 shares of Harris Corp. stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $93.75, for a total value 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. Company insiders own 1.71% of the company’s stock.

About Harris Corp.

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