Highline Capital Management Exits Position in Harris Corporation (HRS)

Harris Corporation (HRS) : Highline Capital Management has sold out all of its stake in Harris Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 261,900 shares of Harris Corporation which is valued at $23,526,477.

Other Hedge Funds, Including , Keeley Asset Management Corp boosted its stake in HRS in the latest quarter, The investment management firm added 4,335 additional shares and now holds a total of 17,350 shares of Harris Corporation which is valued at $1,558,551. Harris Corporation makes up approx 0.06% of Keeley Asset Management Corp’s portfolio.Ameritas Investment Partners boosted its stake in HRS in the latest quarter, The investment management firm added 2,466 additional shares and now holds a total of 2,508 shares of Harris Corporation which is valued at $225,294. Harris Corporation makes up approx 0.01% of Ameritas Investment Partners’s portfolio.Ropes Wealth Advisors boosted its stake in HRS in the latest quarter, The investment management firm added 257 additional shares and now holds a total of 465 shares of Harris Corporation which is valued at $41,794. Harris Corporation makes up approx 0.01% of Ropes Wealth Advisors’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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