Deroy & Devereaux Private Investment Counsel Inc. Purchases Shares of 20,725 Harris Corporation (HRS)

Deroy & Devereaux Private Investment Counsel Inc. Purchases Shares of 20,725 Harris Corporation (HRS)

Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in Harris Corporation (NYSE:HRS) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 20,725 shares of the company’s stock, valued at approximately $1,899,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC increased its position in shares of Harris Corporation by 680.7% in the second quarter. Signaturefd LLC now owns 4,130 shares of the company’s stock worth $345,000 after buying an additional 3,601 shares during the last quarter. Moody Lynn & Lieberson LLC increased its position in shares of Harris Corporation by 1.3% in the second quarter. Moody Lynn & Lieberson LLC now owns 5,538 shares of the company’s stock worth $462,000 after buying an additional 71 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Harris Corporation by 0.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 344,537 shares of the company’s stock worth $28,748,000 after buying an additional 2,165 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Harris Corporation by 0.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,357 shares of the company’s stock worth $780,000 after buying an additional 54 shares during the last quarter. Finally, LMR Partners LLP increased its position in shares of Harris Corporation by 179.4% in the second quarter. LMR Partners LLP now owns 25,705 shares of the company’s stock worth $2,145,000 after buying an additional 16,505 shares during the last quarter. 85.05% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Harris Corporation (NYSE:HRS) opened at 101.50 on Friday. Harris Corporation has a 52 week low of $70.97 and a 52 week high of $107.54. The firm has a market capitalization of $12.61 billion, a PE ratio of 37.93 and a beta of 1.33. The firm’s 50-day moving average is $102.96 and its 200 day moving average is $95.20.

Harris Corporation (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 the Thomson Reuters’ consensus estimate of $1.34 by $0.05. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Harris Corporation had a net margin of 4.53% and a return on equity of 22.84%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 earnings per share. On average, equities analysts forecast that Harris Corporation will post $5.80 earnings per share for the current year.

A number of research analysts have recently issued reports on the stock. Cowen and Company raised shares of Harris Corporation from a “market perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a research report on Monday, November 7th. Seaport Global Securities assumed coverage on shares of Harris Corporation in a research report on Monday, November 7th. They issued a “buy” rating and a $105.00 price objective on the stock. Zacks Investment Research raised shares of Harris Corporation from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research report on Thursday, November 3rd. Finally, Vertical Research assumed coverage on shares of Harris Corporation in a research report on Friday, October 28th. They issued a “buy” rating and a $100.00 price objective on the stock. Ten investment analysts have rated the stock with a buy rating, Harris Corporation currently has an average rating of “Buy” and an average target price of $101.50.

In related news, insider Edward J. Zoiss sold 1,884 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The shares were 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 $158,268.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.71% of the stock is currently owned by corporate insiders.

Harris Corporation Company Profile

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