Harris Corporation (NYSE:HRS)‘s stock had its “buy” rating reiterated by research analysts at Cowen and Company in a research note issued on Tuesday. They presently have a $134.00 price objective on the communications equipment provider’s stock. Cowen and Company’s price objective suggests a potential upside of 8.70% from the stock’s previous close.
A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Harris Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Credit Suisse Group assumed coverage on Harris Corporation in a research note on Monday, August 28th. They issued an “outperform” rating and a $144.00 price target for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 price target (up from $125.00) on shares of Harris Corporation in a research note on Friday, July 14th. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $121.57.
Harris Corporation (NYSE:HRS) traded down 0.06% on Tuesday, hitting $123.20. The stock had a trading volume of 187,241 shares. The company’s 50-day moving average is $118.75 and its 200-day moving average is $112.75. Harris Corporation has a one year low of $88.89 and a one year high of $123.74. The stock has a market cap of $14.82 billion, a P/E ratio of 27.77 and a beta of 1.19.
Harris Corporation (NYSE:HRS) last announced its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company earned $1.45 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts anticipate that Harris Corporation will post $6.01 earnings per share for the current fiscal year.
In other Harris Corporation news, SVP Sheldon J. Fox sold 50,300 shares of Harris Corporation stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $118.24, for a total value of $5,947,472.00. Following the completion of the transaction, the senior vice president now directly owns 73,092 shares in the company, valued at $8,642,398.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Scott T. Mikuen sold 4,387 shares of Harris Corporation stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $121.70, for a total value of $533,897.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,757 shares of company stock valued at $6,965,415. 1.71% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Toronto Dominion Bank boosted its stake in Harris Corporation by 23.1% in the second quarter. Toronto Dominion Bank now owns 41,329 shares of the communications equipment provider’s stock valued at $4,507,000 after acquiring an additional 7,747 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Harris Corporation by 1.0% during the second quarter. EP Wealth Advisors LLC now owns 1,875 shares of the communications equipment provider’s stock worth $205,000 after buying an additional 19 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Harris Corporation during the second quarter worth approximately $881,000. WINTON GROUP Ltd boosted its position in shares of Harris Corporation by 2.1% during the second quarter. WINTON GROUP Ltd now owns 60,636 shares of the communications equipment provider’s stock worth $6,614,000 after buying an additional 1,243 shares during the period. Finally, Colony Group LLC acquired a new position in shares of Harris Corporation during the second quarter worth approximately $2,070,000. Institutional investors own 83.33% of the company’s stock.
Harris Corporation Company Profile
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