Canal Insurance Company Has Decreased Harris Ord (HRS) Stake By $1.09 Million; Blackrock Muniyield Investment Fund (MYF) Has 1 Sentiment

October 27, 2017 - By Migdalia James

Canal Insurance Company decreased Harris Ord (HRS) stake by 25% reported in 2017Q2 SEC filing. Canal Insurance Company sold 10,000 shares as Harris Ord (HRS)’s stock declined 1.51%. The Canal Insurance Company holds 30,000 shares with $3.27 million value, down from 40,000 last quarter. Harris Ord now has $16.26 billion valuation. The stock rose 0.05% or $0.06 reaching $136.59. About 296,274 shares traded. Harris Corporation (NYSE:HRS) has risen 39.09% since October 27, 2016 and is uptrending. It has outperformed by 22.39% the S&P500.

BlackRock MuniYield Investment Fund is a non-diversified, closed-end management investment company. The company has market cap of $209.31 million. The Fund’s investment objective is to provide shareholders with as high a level of current income exempt from federal income taxes as is consistent with its investment policies and prudent investment management. It currently has negative earnings. The Fund seeks to achieve its investment objective by investing at least 80% of its assets in municipal obligations exempt from federal income taxes (except that the interest may be subject to the federal alternative minimum tax).

Among 9 analysts covering Harris (NYSE:HRS), 8 have Buy rating, 0 Sell and 1 Hold. Therefore 89% are positive. Harris had 28 analyst reports since August 10, 2015 according to SRatingsIntel. The rating was maintained by Jefferies on Friday, October 20 with “Buy”. The rating was downgraded by Barclays Capital to “Equal Weight” on Monday, May 1. The firm has “Buy” rating given on Thursday, August 17 by Jefferies. The stock has “Buy” rating by Cowen & Co on Thursday, July 6. The firm has “Buy” rating by Cowen & Co given on Wednesday, June 7. Jefferies maintained the stock with “Buy” rating in Monday, September 18 report. As per Tuesday, September 8, the company rating was upgraded by Goldman Sachs. Jefferies maintained Harris Corporation (NYSE:HRS) on Friday, July 14 with “Buy” rating. As per Monday, October 12, the company rating was initiated by RBC Capital Markets. Cowen & Co downgraded it to “Market Perform” rating and $90 target in Tuesday, March 15 report.

Investors sentiment decreased to 0.93 in Q2 2017. Its down 0.10, from 1.03 in 2017Q1. It worsened, as 43 investors sold HRS shares while 198 reduced holdings. 71 funds opened positions while 154 raised stakes. 100.73 million shares or 2.38% less from 103.18 million shares in 2017Q1 were reported. 42,202 are owned by Utd Advisers Ltd Co. Tiaa Cref Inv Ltd Liability Corporation owns 446,596 shares. Amp Capital Invsts reported 68,664 shares. Twin Tree LP accumulated 11,977 shares. Signaturefd Ltd Liability invested in 4,124 shares. Franklin Resource invested in 0.01% or 145,364 shares. Fil has 349,569 shares for 0.11% of their portfolio. Morgan Stanley has invested 0.04% in Harris Corporation (NYSE:HRS). Highland Mngmt Lc accumulated 4,554 shares. Ameriprise Fincl accumulated 444,177 shares or 0.02% of the stock. Oakworth Cap reported 2,500 shares stake. Massmutual Tru Company Fsb Adv holds 75 shares. Barbara Oil invested in 0.79% or 10,000 shares. Korea Inv has invested 0.01% of its portfolio in Harris Corporation (NYSE:HRS). Capital New York accumulated 5,500 shares.

Since May 31, 2017, it had 0 insider purchases, and 1 insider sale for $3.76 million activity. Another trade for 33,600 shares valued at $3.76 million was sold by DUFFY ROBERT L.

Canal Insurance Company increased Vertex Pharmaceuticals Ord (NASDAQ:VRTX) stake by 39,600 shares to 40,000 valued at $5.16M in 2017Q2. It also upped Merck & Co Ord (NYSE:MRK) stake by 109,600 shares and now owns 110,000 shares. General Dynamics Ord (NYSE:GD) was raised too.

Analysts await Harris Corporation (NYSE:HRS) to report earnings on November, 7. They expect $1.33 earnings per share, down 4.32% or $0.06 from last year’s $1.39 per share. HRS’s profit will be $158.33 million for 25.67 P/E if the $1.33 EPS becomes a reality. After $1.49 actual earnings per share reported by Harris Corporation for the previous quarter, Wall Street now forecasts -10.74% negative EPS growth.

Cambridge Investment Research Advisors Inc. holds 0.01% of its portfolio in BlackRock MuniYield Investment Fund for 34,600 shares. City Holding Co owns 1,292 shares or 0.01% of their US portfolio. Moreover, Alliancebernstein L.P. has 0% invested in the company for 13,189 shares. The North Carolina-based Bank Of America Corp De has invested 0% in the stock. Creative Planning, a Kansas-based fund reported 313 shares.

About 18,353 shares traded. BlackRock MuniYield Investment Fund (MYF) has declined 2.91% since October 27, 2016 and is downtrending. It has underperformed by 19.61% the S&P500.