Burgundy Asset Management Ltd. buys $196,164,286 stake in Harris Corporation (HRS)

Harris Corporation (HRS) : Burgundy Asset Management Ltd. scooped up 374,015 additional shares in Harris Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 2,183,728 shares of Harris Corporation which is valued at $196,164,286.Harris Corporation makes up approximately 1.88% of Burgundy Asset Management Ltd.’s portfolio.

Other Hedge Funds, Including , Bb&t Securities reduced its stake in HRS by selling 1,603 shares or 3.73% in the most recent quarter. The Hedge Fund company now holds 41,356 shares of HRS which is valued at $3,669,931. Harris Corporation makes up approx 0.06% of Bb&t Securities’s portfolio. Tortoise Investment Management added HRS to its portfolio by purchasing 42 company shares during the most recent quarter which is valued at $3,699.Gwm Advisors reduced its stake in HRS by selling 13,033 shares or 40.03% in the most recent quarter. The Hedge Fund company now holds 19,522 shares of HRS which is valued at $1,660,346. Harris Corporation makes up approx 0.68% of Gwm Advisors’s portfolio.Creative Planning boosted its stake in HRS in the latest quarter, The investment management firm added 880 additional shares and now holds a total of 3,590 shares of Harris Corporation which is valued at $306,335.

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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