Harris Corp. (HRS) Sets New 1-Year High at $91.40
Shares of Harris Corp. (NYSE:HRS) hit a new 52-week high on Monday . The stock traded as high as $91.40 and last traded at $90.91, with a volume of 325,801 shares trading hands. The stock had previously closed at $89.83.
Several analysts have recently weighed in on the company. JPMorgan Chase & Co. set a $93.00 price objective on Harris Corp. and gave the company a “buy” rating in a report on Wednesday, August 3rd. Jefferies Group restated a “buy” rating on shares of Harris Corp. in a report on Friday, June 10th. Zacks Investment Research lowered Harris Corp. from a “hold” rating to a “sell” rating in a report on Thursday, April 21st. Sterne Agee CRT restated a “buy” rating on shares of Harris Corp. in a report on Monday, May 16th. Finally, Drexel Hamilton restated a “buy” rating on shares of Harris Corp. in a report on Friday, June 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $98.29.
The firm’s 50-day moving average is $85.45 and its 200-day moving average is $80.27. The firm has a market cap of $11.27 billion and a PE ratio of 35.17.
Harris Corp. (NYSE:HRS) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.01. During the same period in the prior year, the business earned $1.32 earnings per share. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, equities research analysts predict that Harris Corp. will post $5.76 EPS for the current fiscal year.
In related news, SVP Sheldon J. Fox sold 17,700 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $88.02, for a total transaction of $1,557,954.00. Following the completion of the sale, the senior vice president now directly owns 62,060 shares of the company’s stock, valued at approximately $5,462,521.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott T. Mikuen sold 9,400 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $88.00, for a total value of $827,200.00. Following the sale, the senior vice president now directly owns 49,277 shares of the company’s stock, valued at $4,336,376. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in the stock. Nicholas Co. Inc. WI acquired a new stake in Harris Corp. during the fourth quarter worth $13,948,000. I.G. Investment Management LTD. raised its position in shares of Harris Corp. by 17.2% in the fourth quarter. I.G. Investment Management LTD. now owns 111,736 shares of the company’s stock worth $9,710,000 after buying an additional 16,400 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of Harris Corp. by 242.3% in the fourth quarter. State of Tennessee Treasury Department now owns 64,013 shares of the company’s stock worth $5,563,000 after buying an additional 45,313 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Harris Corp. by 68.6% in the fourth quarter. Advisors Asset Management Inc. now owns 48,008 shares of the company’s stock worth $4,172,000 after buying an additional 19,541 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Harris Corp. by 1.2% in the fourth quarter. US Bancorp DE now owns 39,522 shares of the company’s stock worth $3,434,000 after buying an additional 474 shares during the last quarter.
Harris Corporation (Harris) together with its subsidiaries is engaged in providing technology-based solutions to government and commercial customers. As of July 3, 2015, the Company operated through four business segments: RF Communications, Government Communications Systems, Integrated Network Solutions and Exelis.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.