State of Wisconsin Investment Board cut its holdings in Harris Corporation (NYSE:HRS) by 15.6% during the 4th quarter, HoldingsChannel reports. The fund owned 237,213 shares of the communications equipment provider’s stock after selling 43,798 shares during the quarter. State of Wisconsin Investment Board’s holdings in Harris were worth $33,601,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its stake in Harris by 12.9% during the fourth quarter. Toronto Dominion Bank now owns 51,381 shares of the communications equipment provider’s stock worth $7,279,000 after buying an additional 5,860 shares in the last quarter. First Trust Advisors LP grew its stake in Harris by 403.2% during the fourth quarter. First Trust Advisors LP now owns 223,207 shares of the communications equipment provider’s stock worth $31,617,000 after buying an additional 178,849 shares in the last quarter. Barings LLC bought a new position in shares of Harris in the fourth quarter worth about $711,000. Keeler Thomas Management LLC bought a new position in shares of Harris in the fourth quarter worth about $226,000. Finally, Sentry Investment Management LLC lifted its holdings in shares of Harris by 5.0% in the fourth quarter. Sentry Investment Management LLC now owns 8,787 shares of the communications equipment provider’s stock worth $1,245,000 after acquiring an additional 416 shares during the last quarter. Institutional investors and hedge funds own 84.10% of the company’s stock.
Harris Corporation (NYSE HRS) opened at $156.66 on Monday. The stock has a market cap of $18,600.21, a P/E ratio of 26.46, a P/E/G ratio of 4.03 and a beta of 1.29. Harris Corporation has a fifty-two week low of $106.18 and a fifty-two week high of $160.67. The company has a quick ratio of 0.68, a current ratio of 1.22 and a debt-to-equity ratio of 1.13.
A number of research analysts have recently commented on the stock. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. JPMorgan Chase & Co. increased their target price on shares of Harris from $138.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Cowen reissued a “buy” rating and issued a $170.00 target price on shares of Harris in a report on Tuesday, January 30th. Jefferies Group increased their target price on shares of Harris from $135.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Zacks Investment Research raised shares of Harris from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a report on Thursday, January 18th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $154.57.
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Harris Company 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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