Hudson Valley Investment Advisors Inc. ADV Raises Stake in Harris Co. (HRS)
Hudson Valley Investment Advisors Inc. ADV boosted its stake in Harris Co. (NYSE:HRS) by 3.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 25,552 shares of the communications equipment provider’s stock after buying an additional 850 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Harris were worth $2,843,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan boosted its position in shares of Harris by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,940 shares of the communications equipment provider’s stock valued at $361,000 after buying an additional 10 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Harris by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,124 shares of the communications equipment provider’s stock valued at $730,000 after buying an additional 29 shares in the last quarter. Howe & Rusling Inc. boosted its position in shares of Harris by 0.9% in the first quarter. Howe & Rusling Inc. now owns 4,962 shares of the communications equipment provider’s stock valued at $552,000 after buying an additional 45 shares in the last quarter. FTB Advisors Inc. boosted its position in shares of Harris by 0.3% in the third quarter. FTB Advisors Inc. now owns 23,558 shares of the communications equipment provider’s stock valued at $2,157,000 after buying an additional 63 shares in the last quarter. Finally, Boston Advisors LLC boosted its position in shares of Harris by 3.1% in the third quarter. Boston Advisors LLC now owns 2,669 shares of the communications equipment provider’s stock valued at $245,000 after buying an additional 80 shares in the last quarter. 83.24% of the stock is owned by hedge funds and other institutional investors.
Harris Co. (NYSE:HRS) traded up 0.29% during trading on Friday, hitting $110.27. The stock had a trading volume of 829,048 shares. Harris Co. has a 1-year low of $73.32 and a 1-year high of $113.00. The stock has a market cap of $13.72 billion, a PE ratio of 20.88 and a beta of 1.27. The firm’s 50-day moving average price is $110.57 and its 200-day moving average price is $103.54.
Harris (NYSE:HRS) last announced its quarterly earnings data on Thursday, February 2nd. The communications equipment provider reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.05. Harris had a return on equity of 22.73% and a net margin of 9.15%. The business earned $1.70 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company earned $1.49 earnings per share. Harris’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that Harris Co. will post $5.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Tuesday, March 14th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, March 10th. This represents a $2.12 annualized dividend and a dividend yield of 1.92%. Harris’s dividend payout ratio is 40.08%.
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Several brokerages recently issued reports on HRS. Jefferies Group LLC set a $120.00 price objective on Harris and gave the stock a “buy” rating in a report on Thursday, March 16th. Zacks Investment Research cut Harris from a “buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $106.14.
In related news, SVP Dana A. Mehnert sold 99,400 shares of the stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $104.64, for a total transaction of $10,401,216.00. Following the completion of the sale, the senior vice president now directly owns 116,490 shares in the company, valued at $12,189,513.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James F. Albaugh acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The shares were purchased at an average price of $104.99 per share, with a total value of $104,990.00. Following the completion of the acquisition, the director now owns 825 shares of the company’s stock, valued at approximately $86,616.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 141,050 shares of company stock valued at $14,882,228. 1.71% of the stock is owned by corporate insiders.
Harris Company Profile
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