Wall Street brokerages predict that Harris Corporation (NYSE:HRS) will post $1.42 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Harris Corporation’s earnings. The highest sales estimate is $1.44 billion and the lowest is $1.40 billion. Harris Corporation reported sales of $1.75 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 18.9%. The firm is expected to issue its next earnings results on Tuesday, November 7th.

On average, analysts expect that Harris Corporation will report full year sales of $1.42 billion for the current financial year, with estimates ranging from $6.07 billion to $6.10 billion. For the next financial year, analysts expect that the company will post sales of $6.47 billion per share, with estimates ranging from $6.34 billion to $6.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Harris Corporation.

Harris Corporation (NYSE:HRS) last posted its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.49. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $1.45 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis.

HRS has been the topic of several research reports. Zacks Investment Research raised shares of Harris Corporation from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a research note on Monday, April 10th. Barclays PLC downgraded shares of Harris Corporation from an “overweight” rating to an “equal weight” rating and set a $110.00 price target on the stock. in a research note on Monday, May 1st. Jefferies Group LLC lifted their target price on shares of Harris Corporation from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, May 4th. ValuEngine raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub downgraded shares of Harris Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Harris Corporation presently has a consensus rating of “Buy” and a consensus target price of $113.29.

In related news, SVP Robert L. Duffy sold 33,600 shares of Harris Corporation stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $112.01, for a total value of $3,763,536.00. Following the transaction, the senior vice president now directly owns 50,311 shares of the company’s stock, valued at $5,635,335.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.71% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of HRS. Dimensional Fund Advisors LP increased its position in shares of Harris Corporation by 11.3% in the first quarter. Dimensional Fund Advisors LP now owns 590,844 shares of the communications equipment provider’s stock valued at $65,744,000 after buying an additional 59,933 shares during the last quarter. Knights of Columbus Asset Advisors LLC bought a new position in shares of Harris Corporation during the first quarter worth about $1,458,000. Bank of Nova Scotia increased its position in shares of Harris Corporation by 946.4% in the first quarter. Bank of Nova Scotia now owns 28,473 shares of the communications equipment provider’s stock worth $3,168,000 after buying an additional 25,752 shares during the last quarter. Morgan Stanley increased its position in shares of Harris Corporation by 41.4% in the first quarter. Morgan Stanley now owns 700,940 shares of the communications equipment provider’s stock worth $77,993,000 after buying an additional 205,317 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Harris Corporation by 1.5% in the first quarter. Signaturefd LLC now owns 4,111 shares of the communications equipment provider’s stock worth $457,000 after buying an additional 59 shares during the last quarter. 85.13% of the stock is currently owned by institutional investors.

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Harris Corporation (NYSE:HRS) traded down 0.42% during midday trading on Friday, hitting $116.89. 646,884 shares of the stock were exchanged. Harris Corporation has a 1-year low of $88.27 and a 1-year high of $117.81. The company’s 50 day moving average is $113.09 and its 200-day moving average is $109.89. The stock has a market cap of $14.06 billion, a PE ratio of 26.35 and a beta of 1.22.

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Earnings History and Estimates for Harris Corporation (NYSE:HRS)

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