Stadion Money Management Lowers stake in Harris Corporation (HRS)

Harris Corporation (HRS) : Stadion Money Management reduced its stake in Harris Corporation by 0.78% during the most recent quarter end. The investment management company now holds a total of 33,854 shares of Harris Corporation which is valued at $3,501,181 after selling 265 shares in Harris Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Harris Corporation makes up approximately 0.12% of Stadion Money Management’s portfolio.

Other Hedge Funds, Including , Fort Washington Investment Advisors Inc Oh reduced its stake in HRS by selling 2,695 shares or 8.02% in the most recent quarter. The Hedge Fund company now holds 30,903 shares of HRS which is valued at $3,246,978. Harris Corporation makes up approx 0.06% of Fort Washington Investment Advisors Inc Oh’s portfolio.Bank Of The West boosted its stake in HRS in the latest quarter, The investment management firm added 4,153 additional shares and now holds a total of 13,680 shares of Harris Corporation which is valued at $1,222,855. Harris Corporation makes up approx 0.17% of Bank Of The West’s portfolio.

Harris Corporation closed down -0.22 points or -0.21% at $103.57 with 8,28,073 shares getting traded on Monday. Post opening the session at $103.88, the shares hit an intraday low of $102.73 and an intraday high of $104 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Harris Corporation reported $1.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $1.34. The company had revenue of $1754.00 million for the quarter, compared to analysts expectations of $1731.01 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.31 EPS.

Many Wall Street Analysts have commented on Harris Corporation. Seaport Global Securities Initiated Harris Corporation on Nov 7, 2016 to “Buy”, Price Target of the shares are set at $105.

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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