Cowen and Company reiterated their buy rating on shares of Harris Corporation (NYSE:HRS) in a research note published on Monday morning. Cowen and Company currently has a $134.00 price objective on the communications equipment provider’s stock.

A number of other equities analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Harris Corporation from a sell rating to a hold rating in a research report on Tuesday. ValuEngine lowered shares of Harris Corporation from a buy rating to a hold rating in a research report on Monday. Jefferies Group LLC reiterated a buy rating and set a $135.00 target price on shares of Harris Corporation in a research report on Thursday, September 21st. Credit Suisse Group began coverage on shares of Harris Corporation in a research report on Monday, August 28th. They set an outperform rating and a $144.00 target price on the stock. Finally, BidaskClub upgraded shares of Harris Corporation from a hold rating to a buy rating in a research report on Saturday, August 5th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Harris Corporation currently has a consensus rating of Buy and an average target price of $121.33.

Harris Corporation (HRS) opened at 134.00 on Monday. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $134.01. The firm has a market cap of $16.05 billion, a price-to-earnings ratio of 30.21 and a beta of 1.18. The company’s 50 day moving average is $125.37 and its 200-day moving average is $115.16.

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 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 business earned $1.45 earnings per share. Harris Corporation’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Harris Corporation will post $6.01 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another publication, it was stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/10/05/harris-corporations-hrs-buy-rating-reiterated-at-cowen-and-company.html.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 7th. Harris Corporation’s payout ratio is 51.47%.

In related news, SVP Scott T. Mikuen sold 13,600 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the completion of the sale, the senior vice president now directly owns 61,349 shares of the company’s stock, valued at $7,568,012.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Sheldon J. Fox sold 50,300 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $118.24, for a total transaction of $5,947,472.00. Following the sale, the senior vice president now directly owns 73,092 shares of the company’s stock, valued at $8,642,398.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,357 shares of company stock valued at $8,643,111. 1.91% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Harwood Advisory Group LLC raised its stake in shares of Harris Corporation by 0.4% during the second quarter. Harwood Advisory Group LLC now owns 2,119 shares of the communications equipment provider’s stock worth $231,000 after buying an additional 9 shares during the last quarter. EP Wealth Advisors LLC raised its stake 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 last quarter. Cleararc Capital Inc. raised its stake in shares of Harris Corporation by 0.8% during the first quarter. Cleararc Capital Inc. now owns 3,047 shares of the communications equipment provider’s stock worth $339,000 after buying an additional 23 shares during the last quarter. Blue Chip Partners Inc. raised its stake in shares of Harris Corporation by 1.0% during the second quarter. Blue Chip Partners Inc. now owns 2,729 shares of the communications equipment provider’s stock worth $298,000 after buying an additional 26 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its stake in shares of Harris Corporation by 0.6% during the second quarter. Thrivent Financial For Lutherans now owns 4,685 shares of the communications equipment provider’s stock worth $511,000 after buying an additional 30 shares during the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Harris Corporation Company Profile

Analyst Recommendations for Harris Corporation (NYSE:HRS)

Receive News & Stock Ratings for Harris Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris Corporation and related stocks with our FREE daily email newsletter.