Wilen Investment Management Corp. Lowers stake in Harris Corporation (HRS)

Harris Corporation (HRS) : Wilen Investment Management Corp. reduced its stake in Harris Corporation by 0.86% during the most recent quarter end. The investment management company now holds a total of 34,590 shares of Harris Corporation which is valued at $3,046,341 after selling 300 shares in Harris Corporation , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Harris Corporation makes up approximately 1.89% of Wilen Investment Management Corp.’s portfolio.

Other Hedge Funds, Including , Ancora Inverness added HRS to its portfolio by purchasing 16,885 company shares during the most recent quarter which is valued at $1,487,062. Harris Corporation makes up approx 0.55% of Ancora Inverness’s portfolio.Wheatland Advisors Inc reduced its stake in HRS by selling 799 shares or 2.21% in the most recent quarter. The Hedge Fund company now holds 35,292 shares of HRS which is valued at $3,108,166. Harris Corporation makes up approx 1.63% of Wheatland Advisors Inc’s portfolio.Tiaa Cref Trust Co Fsbmo boosted its stake in HRS in the latest quarter, The investment management firm added 1,272 additional shares and now holds a total of 13,187 shares of Harris Corporation which is valued at $1,141,467. Harris Corporation makes up approx 0.01% of Tiaa Cref Trust Co Fsbmo’s portfolio.Raymond James Trust N.a. boosted its stake in HRS in the latest quarter, The investment management firm added 612 additional shares and now holds a total of 10,409 shares of Harris Corporation which is valued at $876,438. Harris Corporation makes up approx 0.07% of Raymond James Trust N.a.’s portfolio.New England Research Management reduced its stake in HRS by selling 950 shares or 12.1% in the most recent quarter. The Hedge Fund company now holds 6,900 shares of HRS which is valued at $562,626. Harris Corporation makes up approx 0.49% of New England Research Management’s portfolio.

Harris Corporation opened for trading at $88.87 and hit $89.4099 on the upside on Monday, eventually ending the session at $88.97, with a gain of 0.26% or 0.23 points. The heightened volatility saw the trading volume jump to 9,57,779 shares. Company has a market cap of $11,097 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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