Wheatland Advisors Inc Lowers stake in Harris Corporation (HRS)

Harris Corporation (HRS) : Wheatland Advisors Inc reduced its stake in Harris Corporation by 2.21% during the most recent quarter end. The investment management company now holds a total of 35,292 shares of Harris Corporation which is valued at $3,108,166 after selling 799 shares in Harris Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Harris Corporation makes up approximately 1.63% of Wheatland Advisors Inc’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in HRS by selling 24,095 shares or 21.98% in the most recent quarter. The Hedge Fund company now holds 85,506 shares of HRS which is valued at $7,530,513. Harris Corporation makes up approx 0.10% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio. Rockefeller Financial Services Inc sold out all of its stake in HRS during the most recent quarter. The investment firm sold 484 shares of HRS which is valued $41,895.Cutler Group Lp reduced its stake in HRS by selling 15,828 shares or 98.21% in the most recent quarter. The Hedge Fund company now holds 288 shares of HRS which is valued at $24,575.Patton Albertson Miller Group reduced its stake in HRS by selling 2,345 shares or 28.65% in the most recent quarter. The Hedge Fund company now holds 5,841 shares of HRS which is valued at $498,413. Harris Corporation makes up approx 0.22% of Patton Albertson Miller Group’s portfolio.Daiwa Sb Investments Ltd. boosted its stake in HRS in the latest quarter, The investment management firm added 60 additional shares and now holds a total of 860 shares of Harris Corporation which is valued at $72,412. Harris Corporation makes up approx 0.02% of Daiwa Sb Investments Ltd.’s portfolio.

Harris Corporation opened for trading at $88.06 and hit $88.49 on the upside on Thursday, eventually ending the session at $88.25, with a gain of 0.20% or 0.18 points. The heightened volatility saw the trading volume jump to 8,42,233 shares. Company has a market cap of $11,007 M.

On the company’s financial health, Harris Corporation reported $1.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.43. The company had revenue of $1904.00 million for the quarter, compared to analysts expectations of $1936.65 million. The company’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS.

Many Wall Street Analysts have commented on Harris Corporation. Citigroup Initiated Harris Corporation on Jun 10, 2016 to “Buy”, Price Target of the shares are set at $95.

Harris Corporation (Harris) together with its subsidiaries is engaged in providing technology-based solutions to government and commercial customers. As of July 3 2015 the Company operated through four business segments: RF Communications Government Communications Systems Integrated Network Solutions and Exelis. The RF Communications segment is engaged in serving the United States Department of Defense (DoD) and International Tactical Communications and public safety and professional communications markets. The Government Communications Systems segment is engaged in serving civil national intelligence and defense markets. The Integrated Network Solutions segment is engaged in serving information technology (IT) services and managed satellite and terrestrial communications solutions markets. The Exelis segment provides positioning and navigation sensors air traffic management solutions image processing and distribution communications and information systems.

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