Richard C. Young Ltd. Lowers stake in Harris Corporation (HRS)

Harris Corporation (HRS) : Richard C. Young Ltd. reduced its stake in Harris Corporation by 1.43% during the most recent quarter end. The investment management company now holds a total of 119,809 shares of Harris Corporation which is valued at $10,762,442 after selling 1,743 shares in Harris Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Harris Corporation makes up approximately 2.33% of Richard C. Young Ltd.’s portfolio.

Other Hedge Funds, Including , Rhumbline Advisers boosted its stake in HRS in the latest quarter, The investment management firm added 9,440 additional shares and now holds a total of 171,602 shares of Harris Corporation which is valued at $15,415,008. Harris Corporation makes up approx 0.04% of Rhumbline Advisers’s portfolio.Dana Investment Advisors reduced its stake in HRS by selling 3,257 shares or 20.53% in the most recent quarter. The Hedge Fund company now holds 12,605 shares of HRS which is valued at $1,118,568. Harris Corporation makes up approx 0.05% of Dana Investment Advisors’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in HRS by selling 800 shares or 3.11% in the most recent quarter. The Hedge Fund company now holds 24,931 shares of HRS which is valued at $2,195,673. Harris Corporation makes up approx 0.05% of Oregon Public Employees Retirement Fund’s portfolio.Coastline Trust Co reduced its stake in HRS by selling 150 shares or 2.33% in the most recent quarter. The Hedge Fund company now holds 6,285 shares of HRS which is valued at $540,699. Harris Corporation makes up approx 0.11% of Coastline Trust Co’s portfolio.

Harris Corporation opened for trading at $91.5 and hit $91.89 on the upside on Tuesday, eventually ending the session at $91.34, with a gain of 0.11% or 0.1 points. The heightened volatility saw the trading volume jump to 5,72,396 shares. Company has a market cap of $11,392 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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