Harris Co. (HRS) Shares Bought by Marshall Wace North America L.P.

Marshall Wace North America L.P. grew its holdings in shares of Harris Co. (NYSE:HRS) by 42.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,473 shares of the communications equipment provider’s stock after buying an additional 25,498 shares during the period. Marshall Wace North America L.P.’s holdings in Harris were worth $14,463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Panagora Asset Management Inc. increased its stake in shares of Harris by 1.9% during the third quarter. Panagora Asset Management Inc. now owns 17,897 shares of the communications equipment provider’s stock valued at $3,028,000 after buying an additional 338 shares during the period. GAM Holding AG increased its stake in shares of Harris by 3.3% during the third quarter. GAM Holding AG now owns 10,778 shares of the communications equipment provider’s stock valued at $1,824,000 after buying an additional 345 shares during the period. Bridgeworth LLC increased its stake in shares of Harris by 28.0% during the second quarter. Bridgeworth LLC now owns 1,600 shares of the communications equipment provider’s stock valued at $230,000 after buying an additional 350 shares during the period. Sterling Capital Management LLC increased its stake in shares of Harris by 0.4% during the third quarter. Sterling Capital Management LLC now owns 82,375 shares of the communications equipment provider’s stock valued at $13,939,000 after buying an additional 353 shares during the period. Finally, Sigma Planning Corp increased its stake in shares of Harris by 22.9% during the second quarter. Sigma Planning Corp now owns 1,907 shares of the communications equipment provider’s stock valued at $276,000 after buying an additional 355 shares during the period. 84.93% of the stock is currently owned by hedge funds and other institutional investors.

Shares of HRS stock opened at $139.40 on Friday. The firm has a market capitalization of $16.44 billion, a P/E ratio of 20.25 and a beta of 1.27. Harris Co. has a twelve month low of $134.30 and a twelve month high of $175.50. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.96 and a current ratio of 1.17.

Harris (NYSE:HRS) last issued its quarterly earnings results on Sunday, October 14th. The communications equipment provider reported $1.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.06. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Harris had a return on equity of 26.39% and a net margin of 12.20%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 earnings per share. As a group, equities analysts anticipate that Harris Co. will post 7.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 23rd were issued a $0.685 dividend. This represents a $2.74 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Wednesday, November 21st. Harris’s dividend payout ratio (DPR) is 42.15%.

In other Harris news, SVP Scott T. Mikuen sold 3,903 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $160.75, for a total value of $627,407.25. Following the sale, the senior vice president now directly owns 47,243 shares of the company’s stock, valued at $7,594,312.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 26,311 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $162.80, for a total value of $4,283,430.80. Following the completion of the sale, the insider now directly owns 1,286 shares in the company, valued at $209,360.80. The disclosure for this sale can be found here. Insiders own 2.51% of the company’s stock.

Several equities research analysts recently weighed in on the company. Credit Suisse Group upped their price target on Harris from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Monday, October 15th. Raymond James upped their price target on Harris from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 16th. Argus upped their price target on Harris to $190.00 and gave the stock a “buy” rating in a research note on Thursday, August 16th. UBS Group assumed coverage on Harris in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $175.00 price target on the stock. Finally, Barclays raised Harris from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $189.00 to $181.00 in a research note on Tuesday, November 13th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $180.89.

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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, 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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