Alpine Woods Capital Investors buys $20,622,722 stake in Harris Corporation (HRS)

Harris Corporation (HRS) : Alpine Woods Capital Investors scooped up 12,575 additional shares in Harris Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 229,575 shares of Harris Corporation which is valued at $20,622,722.Harris Corporation makes up approximately 1.18% of Alpine Woods Capital Investors’s portfolio.

Other Hedge Funds, Including , Swiss National Bank boosted its stake in HRS in the latest quarter, The investment management firm added 26,000 additional shares and now holds a total of 349,356 shares of Harris Corporation which is valued at $30,767,783. Harris Corporation makes up approx 0.05% of Swiss National Bank’s portfolio.Royal London Asset Management Ltd reduced its stake in HRS by selling 2,039 shares or 4.5% in the most recent quarter. The Hedge Fund company now holds 43,250 shares of HRS which is valued at $3,809,028. Harris Corporation makes up approx 0.06% of Royal London Asset Management Ltd’s portfolio.Mizuho Trust Banking Ltd. reduced its stake in HRS by selling 2,792 shares or 1.4% in the most recent quarter. The Hedge Fund company now holds 197,026 shares of HRS which is valued at $17,352,080. Harris Corporation makes up approx 0.05% of Mizuho Trust Banking Ltd.’s portfolio.

Harris Corporation opened for trading at $90.35 and hit $91.115 on the upside on Friday, eventually ending the session at $90.94, with a gain of 0.33% or 0.3 points. The heightened volatility saw the trading volume jump to 3,68,131 shares. Company has a market cap of $11,343 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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