Stocks: State of New Jersey Common Pension Fund D Has $3,894,000 Position in Harris Co. (HRS)

Stocks: State of New Jersey Common Pension Fund D Has $3,894,000 Position in Harris Co. (HRS)

State of New Jersey Common Pension Fund D continued to hold its stake in shares of Harris Co. (NYSE:HRS) during the first quarter, Holdings Channel reports. The firm owned 35,000 shares of the communications equipment provider’s stock at the end of the first quarter. State of New Jersey Common Pension Fund D’s holdings in Harris were worth $3,894,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Great West Life Assurance Co. Can increased its stake in shares of Harris by 2.8% in the third quarter. Great West Life Assurance Co. Can now owns 129,973 shares of the communications equipment provider’s stock valued at $11,902,000 after buying an additional 3,486 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Harris by 3.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,304 shares of the communications equipment provider’s stock valued at $1,768,000 after buying an additional 570 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Harris by 22.9% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 423,264 shares of the communications equipment provider’s stock valued at $38,775,000 after buying an additional 78,727 shares in the last quarter. DnB Asset Management AS increased its stake in shares of Harris by 3.8% in the third quarter. DnB Asset Management AS now owns 10,867 shares of the communications equipment provider’s stock valued at $996,000 after buying an additional 400 shares in the last quarter. Finally, World Asset Management Inc increased its stake in shares of Harris by 1.4% in the third quarter. World Asset Management Inc now owns 12,681 shares of the communications equipment provider’s stock valued at $1,162,000 after buying an additional 176 shares in the last quarter. 83.24% of the stock is owned by institutional investors and hedge funds.

Harris Co. (NYSE:HRS) opened at 108.97 on Friday. The firm’s 50-day moving average price is $110.36 and its 200 day moving average price is $105.59. Harris Co. has a 52-week low of $75.42 and a 52-week high of $113.58. The company has a market cap of $13.28 billion, a PE ratio of 23.42 and a beta of 1.27.

Harris (NYSE:HRS) last issued its quarterly earnings data on Wednesday, May 3rd. The communications equipment provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Harris had a return on equity of 22.73% and a net margin of 9.15%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 EPS. On average, equities analysts predict that Harris Co. will post $5.52 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be issued a dividend of $0.53 per share. The ex-dividend date is Wednesday, May 31st. This represents a $2.12 dividend on an annualized basis and a yield of 1.95%. Harris’s dividend payout ratio (DPR) is 40.08%.

HRS has been the subject of several research reports. Zacks Investment Research downgraded Harris from a “buy” rating to a “hold” rating in a report on Monday, February 6th. Jefferies Group LLC set a $120.00 price target on Harris and gave the company a “buy” rating in a report on Thursday, March 16th. Finally, Barclays PLC downgraded Harris from an “overweight” rating to an “equal weight” rating and set a $110.00 price target for the company. in a report on Monday, May 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $107.25.

In related news, SVP Scott T. Mikuen sold 20,600 shares of the stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $109.71, for a total transaction of $2,260,026.00. Following the sale, the senior vice president now owns 68,313 shares of the company’s stock, valued at approximately $7,494,619.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.71% of the company’s stock.

About Harris

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