Harris Co. (NYSE:HRS) – Research analysts at Seaport Global Securities increased their Q4 2018 EPS estimates for Harris in a research note issued to investors on Friday, April 20th. Seaport Global Securities analyst J. Sullivan now forecasts that the communications equipment provider will earn $1.69 per share for the quarter, up from their previous estimate of $1.67.
Harris (NYSE:HRS) last released its earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.28. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.48 billion. Harris had a return on equity of 24.49% and a net margin of 8.63%. Harris’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 EPS.
Several other analysts have also weighed in on the company. Zacks Investment Research lowered Harris from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Cowen reaffirmed a “buy” rating and issued a $157.00 price objective on shares of Harris in a research note on Monday, January 22nd. ValuEngine raised Harris from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Credit Suisse Group raised their price objective on Harris from $167.00 to $187.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Barclays initiated coverage on Harris in a research note on Thursday, March 29th. They issued an “equal weight” rating and a $173.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Harris currently has a consensus rating of “Buy” and a consensus target price of $169.33.
NYSE:HRS opened at $169.00 on Monday. The stock has a market capitalization of $19,946.61, a P/E ratio of 30.56, a price-to-earnings-growth ratio of 4.35 and a beta of 1.26. The company has a current ratio of 1.22, a quick ratio of 0.68 and a debt-to-equity ratio of 1.13. Harris has a twelve month low of $106.18 and a twelve month high of $169.53.
In other Harris news, SVP Dana A. Mehnert sold 51,200 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $153.19, for a total value of $7,843,328.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Scott T. Mikuen sold 20,000 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $151.18, for a total value of $3,023,600.00. The disclosure for this sale can be found here. Insiders sold 79,882 shares of company stock worth $12,221,320 over the last ninety days. 1.91% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Woodard & Co. Asset Management Group Inc. ADV bought a new position in Harris in the fourth quarter valued at about $134,000. Tower Research Capital LLC TRC raised its position in Harris by 980.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,243 shares of the communications equipment provider’s stock valued at $176,000 after purchasing an additional 1,128 shares during the last quarter. Calton & Associates Inc. bought a new position in Harris in the fourth quarter valued at about $180,000. First National Bank & Trust Co. of Newtown bought a new position in Harris in the fourth quarter valued at about $200,000. Finally, Koshinski Asset Management Inc. bought a new position in Harris in the fourth quarter valued at about $203,000. Hedge funds and other institutional investors own 84.99% of the company’s stock.
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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.
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