Harris Corporation (NYSE:HRS) has earned an average rating of “Buy” from the ten ratings firms that are presently covering the company. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $101.14.
Several research analysts recently weighed in on the stock. Seaport Global Securities assumed coverage on shares of Harris Corporation in a report on Monday, November 7th. They issued a “buy” rating and a $105.00 target price for the company. Vertical Research assumed coverage on shares of Harris Corporation in a report on Friday, October 28th. They issued a “buy” rating and a $100.00 target price for the company. Zacks Investment Research raised shares of Harris Corporation from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a report on Thursday, November 3rd. Finally, Cowen and Company raised shares of Harris Corporation from a “market perform” rating to an “outperform” rating and set a $107.00 target price for the company in a report on Monday, November 7th.
Harris Corporation (NYSE:HRS) traded down 0.40% on Friday, hitting $108.22. The stock had a trading volume of 170,903 shares. The company’s 50 day moving average price is $103.25 and its 200 day moving average price is $97.29. The firm has a market cap of $13.47 billion, a price-to-earnings ratio of 20.49 and a beta of 1.27. Harris Corporation has a 52-week low of $73.32 and a 52-week high of $108.82.
Harris Corporation (NYSE:HRS) last issued its earnings results on Thursday, February 2nd. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.04. The company earned $1.70 billion during the quarter, compared to the consensus estimate of $1.77 billion. Harris Corporation had a net margin of 9.15% and a return on equity of 22.73%. Harris Corporation’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.49 EPS. Analysts expect that Harris Corporation will post $5.55 EPS for the current year.
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In related news, Director James F. Albaugh acquired 1,000 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was acquired at an average price of $104.99 per share, with a total value of $104,990.00. Following the acquisition, the director now directly owns 825 shares of the company’s stock, valued at $86,616.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Dana A. Mehnert sold 99,400 shares of the stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $104.64, for a total transaction of $10,401,216.00. Following the transaction, the senior vice president now directly owns 116,490 shares of the company’s stock, valued at approximately $12,189,513.60. The disclosure for this sale can be found here. 1.71% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRS. Thrivent Financial for Lutherans increased its position in Harris Corporation by 5.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,385 shares of the company’s stock valued at $450,000 after buying an additional 230 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Harris Corporation during the fourth quarter valued at approximately $3,581,000. United Capital Financial Advisers LLC increased its position in Harris Corporation by 26.6% in the fourth quarter. United Capital Financial Advisers LLC now owns 39,432 shares of the company’s stock valued at $4,041,000 after buying an additional 8,297 shares during the period. Boothbay Fund Management LLC bought a new position in Harris Corporation during the fourth quarter valued at approximately $547,000. Finally, Cigna Investments Inc. New bought a new position in Harris Corporation during the fourth quarter valued at approximately $475,000. 83.24% of the stock is owned by institutional investors and hedge funds.
Harris Corporation Company Profile
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