Harris Corporation (NYSE:HRS) SVP Sheldon J. Fox sold 8,682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $156.00, for a total value of $1,354,392.00. Following the completion of the sale, the senior vice president now directly owns 53,724 shares in the company, valued at approximately $8,380,944. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Harris Corporation (NYSE HRS) opened at $156.66 on Tuesday. Harris Corporation has a 52 week low of $106.18 and a 52 week high of $160.67. The stock has a market capitalization of $18,670.00, a P/E ratio of 30.18, a P/E/G ratio of 4.03 and a beta of 1.29. The company has a quick ratio of 0.68, a current ratio of 1.22 and a debt-to-equity ratio of 1.13.
Harris (NYSE:HRS) last issued its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.28. Harris had a return on equity of 24.49% and a net margin of 8.63%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the company posted $1.38 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. equities analysts forecast that Harris Corporation will post 6.48 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. lifted its stake in shares of Harris by 0.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 43,853 shares of the communications equipment provider’s stock worth $6,211,000 after purchasing an additional 343 shares during the period. TIAA FSB lifted its stake in shares of Harris by 1.1% during the 4th quarter. TIAA FSB now owns 31,987 shares of the communications equipment provider’s stock worth $4,530,000 after purchasing an additional 348 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Harris by 2.3% during the 3rd quarter. CIBC Asset Management Inc now owns 17,202 shares of the communications equipment provider’s stock worth $2,265,000 after purchasing an additional 387 shares during the period. MML Investors Services LLC lifted its stake in shares of Harris by 15.7% during the 4th quarter. MML Investors Services LLC now owns 2,985 shares of the communications equipment provider’s stock worth $423,000 after purchasing an additional 406 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Harris by 2.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,321 shares of the communications equipment provider’s stock worth $2,413,000 after purchasing an additional 410 shares during the period. 84.10% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on HRS. ValuEngine raised Harris from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. JPMorgan Chase & Co. upped their target price on Harris from $138.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Cowen reaffirmed a “buy” rating and issued a $170.00 target price on shares of Harris in a research note on Tuesday, January 30th. Jefferies Group upped their target price on Harris from $135.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Finally, Zacks Investment Research raised Harris from a “hold” rating to a “buy” rating and set a $165.00 target price on the stock in a research note on Thursday, January 18th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $154.57.
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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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