Hap Trading adds Harris Corporation (HRS) to its portfolio

Harris Corporation (HRS) : Hap Trading added new position in Harris Corporation during the most recent quarter end. The investment management firm now holds 247,108 shares of Harris Corporation which is valued at $18.8 Million , the company said in a statement filed on May 12, 2016 with the SEC.Harris Corporation makes up approximately 2.17% of Hap Trading’s portfolio.

Other Hedge Funds, Including , Investec Asset Management Ltd reduced its stake in HRS by selling 29,296 shares or 12.45% in the most recent quarter. The Hedge Fund company now holds 206,043 shares of HRS which is valued at $15.6 Million. Harris Corporation makes up approx 0.08% of Investec Asset Management Ltd’s portfolio.Ci Investments boosted its stake in HRS in the latest quarter, The investment management firm added 21,200 additional shares and now holds a total of 76,900 shares of Harris Corporation which is valued at $5.7 Million. Harris Corporation makes up approx 0.07% of Ci Investments’s portfolio.Stadion Money Management boosted its stake in HRS in the latest quarter, The investment management firm added 5,905 additional shares and now holds a total of 34,119 shares of Harris Corporation which is valued at $2.5 Million. Harris Corporation makes up approx 0.08% of Stadion Money Management’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in HRS in the latest quarter, The investment management firm added 449 additional shares and now holds a total of 27,912 shares of Harris Corporation which is valued at $2.2 Million. Harris Corporation makes up approx 0.02% of Public Employees Retirement Association Of Colorado’s portfolio.

Harris Corporation opened for trading at $78.06 and hit $78.84 on the upside on Friday, eventually ending the session at $78.74, with a gain of 1.59% or 1.23 points. The heightened volatility saw the trading volume jump to 6,92,253 shares. Company has a market cap of $9,821 M.

On the company’s financial health, Harris Corporation reported $1.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 3, 2016. Analyst had a consensus of $1.39. The company had revenue of $1909.00 million for the quarter, compared to analysts expectations of $1920.39 million. The company’s revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS.

Investors should note that on Apr 22, 2016, Harris Corporation announced a cash dividend of $0.5000. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 13, 2016.

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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