Wheatland Advisors Inc Lowers stake in Harris Corporation (HRS)

Harris Corporation (HRS) : Wheatland Advisors Inc reduced its stake in Harris Corporation by 2.63% during the most recent quarter end. The investment management company now holds a total of 36,091 shares of Harris Corporation which is valued at $2.7 Million after selling 973 shares in Harris Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.Harris Corporation makes up approximately 1.48% of Wheatland Advisors Inc’s portfolio.

Other Hedge Funds, Including , Edge Asset Management Inc boosted its stake in HRS in the latest quarter, The investment management firm added 12,358 additional shares and now holds a total of 288,304 shares of Harris Corporation which is valued at $21.9 Million. Harris Corporation makes up approx 0.21% of Edge Asset Management Inc’s portfolio.Lsv Asset Management reduced its stake in HRS by selling 68,418 shares or 3.87% in the most recent quarter. The Hedge Fund company now holds 1,701,514 shares of HRS which is valued at $129.2 Million. Harris Corporation makes up approx 0.28% of Lsv Asset Management’s portfolio.Global X Management Co boosted its stake in HRS in the latest quarter, The investment management firm added 696 additional shares and now holds a total of 784 shares of Harris Corporation which is valued at $58,479. Lafleur Godfrey sold out all of its stake in HRS during the most recent quarter. The investment firm sold 4,425 shares of HRS which is valued $354,044.

Harris Corporation opened for trading at $75.9 and hit $77.41 on the upside on Monday, eventually ending the session at $77.07, with a gain of 1.51% or 1.15 points. The heightened volatility saw the trading volume jump to 7,11,240 shares. Company has a market cap of $9,613 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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