Harris Corporation (NYSE:HRS) has been assigned a consensus rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $154.57.
A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Credit Suisse Group upped their price target on shares of Harris from $167.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Cowen reaffirmed a “buy” rating and issued a $170.00 price target on shares of Harris in a research note on Tuesday, January 30th. Zacks Investment Research raised shares of Harris from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a research note on Thursday, January 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Harris from $138.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st.
A number of institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC increased its position in Harris 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. Thrivent Financial For Lutherans increased its position in Harris 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. Oppenheimer & Co. Inc. increased its position in Harris by 0.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 43,853 shares of the communications equipment provider’s stock worth $6,211,000 after buying an additional 343 shares during the last quarter. TIAA FSB boosted its holdings in Harris by 1.1% during the fourth quarter. TIAA FSB now owns 31,987 shares of the communications equipment provider’s stock valued at $4,530,000 after acquiring an additional 348 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Harris by 2.3% during the third quarter. CIBC Asset Management Inc now owns 17,202 shares of the communications equipment provider’s stock valued at $2,265,000 after acquiring an additional 387 shares during the period. 83.84% of the stock is currently owned by hedge funds and other institutional investors.
Harris (HRS) traded down $0.78 during midday trading on Tuesday, hitting $152.01. 214,983 shares of the stock were exchanged, compared to its average volume of 814,943. Harris has a 1-year low of $106.00 and a 1-year high of $160.67. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.22 and a quick ratio of 0.68. The firm has a market capitalization of $18,168.03, a P/E ratio of 35.95, a PEG ratio of 3.94 and a beta of 1.29.
Harris (NYSE:HRS) last posted its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.28. Harris had a net margin of 8.63% and a return on equity of 24.49%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the business posted $1.38 earnings per share. Harris’s revenue for the quarter was up 5.9% compared to the same quarter last year. analysts anticipate that Harris will post 6.48 EPS for the current fiscal year.
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Harris Corporation is a technology company that provides products, systems and services that have defense and civil government applications, as well as commercial applications. It offers its products and services to government and commercial customer. It operates in four segments: Communication Systems, which serves markets in tactical communications and defense, and public safety networks; Space and Intelligence Systems, which provides complete Earth observation, environmental, geospatial, space protection, and intelligence solutions from advanced sensors and payloads, as well as ground processing and information analytics; Electronic Systems, which offers a portfolio of solutions in electronic warfare, avionics, wireless and technology, among others, and Critical Networks, which provides managed services supporting air traffic management, energy and maritime communications, and ground network operation and sustainment, as well as information technology (IT) and engineering services.
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