Graticule Asia Macro Advisors Lowers stake in Harris Corporation (HRS)

Harris Corporation (HRS) : Graticule Asia Macro Advisors reduced its stake in Harris Corporation by 56.83% during the most recent quarter end. The investment management company now holds a total of 107,883 shares of Harris Corporation which is valued at $9,691,130 after selling 141,999 shares in Harris Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Harris Corporation makes up approximately 3.98% of Graticule Asia Macro Advisors’s portfolio.

Other Hedge Funds, Including , Brown Brothers Harriman Co boosted its stake in HRS in the latest quarter, The investment management firm added 125 additional shares and now holds a total of 170 shares of Harris Corporation which is valued at $15,271. Usa Mutuals Advisors sold out all of its stake in HRS during the most recent quarter. The investment firm sold 27 shares of HRS which is valued $2,425. Moors Cabot sold out all of its stake in HRS during the most recent quarter. The investment firm sold 2,793 shares of HRS which is valued $251,035.Diam Ltd. reduced its stake in HRS by selling 1,918 shares or 9.0% in the most recent quarter. The Hedge Fund company now holds 19,402 shares of HRS which is valued at $1,708,734. Harris Corporation makes up approx 0.02% of Diam Ltd.’s portfolio.

Harris Corporation closed down -0.13 points or -0.14% at $92.85 with 8,26,475 shares getting traded on Thursday. Post opening the session at $93.22, the shares hit an intraday low of $92.34 and an intraday high of $93.61 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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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