Harris Co. (NYSE:HRS) reached a new 52-week high and low on Friday . The company traded as low as $169.53 and last traded at $168.09, with a volume of 196638 shares changing hands. The stock had previously closed at $168.86.
A number of research firms have recently weighed in on HRS. Zacks Investment Research lowered Harris from a “hold” rating to a “sell” rating in a research note on Tuesday. Citigroup boosted their target price on Harris from $160.00 to $183.00 and gave the company a “buy” rating in a research note on Tuesday, April 10th. Barclays started coverage on Harris in a report on Thursday, March 29th. They set an “equal weight” rating and a $173.00 price target on the stock. Argus started coverage on Harris in a report on Wednesday, April 4th. They set a “buy” rating and a $196.00 price target on the stock. Finally, Credit Suisse Group boosted their price target on Harris from $167.00 to $187.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $169.33.
The firm has a market cap of $19,979.85, a PE ratio of 30.48, a PEG ratio of 4.36 and a beta of 1.27. 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 announced its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business earned $1.38 EPS. Harris’s revenue was up 5.9% compared to the same quarter last year. analysts forecast that Harris Co. will post 6.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Thursday, March 8th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Wednesday, March 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.36%. Harris’s dividend payout ratio (DPR) is 41.23%.
In other Harris news, SVP Dana A. Mehnert sold 51,200 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $153.19, for a total transaction of $7,843,328.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Sheldon J. Fox sold 8,682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $156.00, for a total value of $1,354,392.00. Following the transaction, the senior vice president now owns 53,724 shares in the company, valued at approximately $8,380,944. The disclosure for this sale can be found here. Insiders have sold a total of 79,882 shares of company stock worth $12,221,320 in the last quarter. Company insiders own 1.91% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Woodard & Co. Asset Management Group Inc. ADV purchased a new position in shares of Harris during the 4th quarter worth approximately $134,000. Tower Research Capital LLC TRC boosted its position in shares of Harris by 980.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,243 shares of the communications equipment provider’s stock worth $176,000 after purchasing an additional 1,128 shares in the last quarter. Calton & Associates Inc. bought a new stake in shares of Harris in the 4th quarter worth approximately $180,000. First National Bank & Trust Co. of Newtown bought a new stake in shares of Harris in the 4th quarter worth approximately $200,000. Finally, Koshinski Asset Management Inc. bought a new stake in shares of Harris in the 4th quarter worth approximately $203,000. Hedge funds and other institutional investors own 84.93% of the company’s stock.
WARNING: This piece of content was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of US and international copyright law. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/04/20/harris-hrs-hits-new-52-week-high-and-low-at-169-53.html.
Harris Company Profile
Harris Corporation provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, 2-channel vehicular radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.
Receive News & Ratings for Harris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris and related companies with MarketBeat.com's FREE daily email newsletter.