Harris Corporation (HRS) Upgraded by ValuEngine to “Buy”
Harris Corporation (NYSE:HRS) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.
Several other equities analysts have also issued reports on the stock. Credit Suisse Group assumed coverage on shares of Harris Corporation in a report on Monday, August 28th. They issued an “outperform” rating and a $144.00 target price on the stock. Zacks Investment Research upgraded shares of Harris Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. BidaskClub upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Cowen and Company restated a “buy” rating and issued a $125.00 target price on shares of Harris Corporation in a report on Tuesday, August 1st. Finally, Jefferies Group LLC restated a “buy” rating and issued a $135.00 target price (up previously from $125.00) on shares of Harris Corporation in a report on Friday, July 14th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $117.13.
Shares of Harris Corporation (HRS) opened at 123.15 on Friday. The company has a 50 day moving average of $117.56 and a 200-day moving average of $112.29. The company has a market cap of $14.81 billion, a PE ratio of 27.76 and a beta of 1.22. Harris Corporation has a 52-week low of $88.89 and a 52-week high of $123.57.
Harris Corporation (NYSE:HRS) last released its earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.49. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. Harris Corporation’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 earnings per share. Analysts forecast that Harris Corporation will post $6.01 EPS for the current fiscal year.
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In other news, SVP Sheldon J. Fox sold 50,300 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the transaction, the senior vice president now owns 73,092 shares in the company, valued at $8,642,398.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $118.93, for a total transaction of $484,045.10. Following the transaction, the insider now owns 46,131 shares in the company, valued at approximately $5,486,359.83. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in HRS. Trust Co. of Vermont raised its position in shares of Harris Corporation by 20.6% in the second quarter. Trust Co. of Vermont now owns 919 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 157 shares in the last quarter. BB&T Investment Services Inc. bought a new position in shares of Harris Corporation during the second quarter valued at $113,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Harris Corporation by 110.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the communications equipment provider’s stock valued at $131,000 after buying an additional 632 shares in the last quarter. BT Investment Management Ltd bought a new position in shares of Harris Corporation during the second quarter valued at $157,000. Finally, Stephens Inc. AR bought a new position in shares of Harris Corporation during the second quarter valued at $167,000. Hedge funds and other institutional investors own 83.35% of the company’s stock.
Harris Corporation Company Profile
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