Harris Corp. (HRS) Sees Large Volume Increase
Harris Corp. (NYSE:HRS) saw unusually-high trading volume on Monday . Approximately 1,258,259 shares traded hands during mid-day trading, an increase of 108% from the previous session’s volume of 606,214 shares.The stock last traded at $85.65 and had previously closed at $86.62.
HRS has been the subject of several research reports. Citigroup Inc. initiated coverage on shares of Harris Corp. in a research report on Friday, June 10th. They issued a “buy” rating and a $95.00 price objective for the company. Drexel Hamilton reaffirmed a “buy” rating on shares of Harris Corp. in a research report on Friday, June 17th. Zacks Investment Research cut shares of Harris Corp. from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Sterne Agee CRT reaffirmed a “buy” rating on shares of Harris Corp. in a research report on Monday, May 16th. Finally, Goldman Sachs Group Inc. upped their price target on shares of Harris Corp. from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, April 12th. One research 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 stock has an average rating of “Buy” and an average price target of $97.43.
The stock has a market capitalization of $10.68 billion and a P/E ratio of 97.11. The company’s 50 day moving average price is $83.72 and its 200-day moving average price is $79.85.
In related news, SVP Dana A. Mehnert sold 6,600 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $82.03, for a total transaction of $541,398.00. Following the completion of the sale, the senior vice president now directly owns 69,065 shares in the company, valued at $5,665,401.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Several large investors recently made changes to their positions in the stock. Alpine Woods Capital Investors LLC boosted its stake in shares of Harris Corp. by 139.9% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 215,900 shares of the company’s stock worth $18,762,000 after buying an additional 125,900 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of Harris Corp. by 3.7% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 188,637 shares of the company’s stock worth $16,493,000 after buying an additional 6,750 shares in the last quarter. Nicholas Co. Inc. WI bought a new stake in shares of Harris Corp. during the fourth quarter worth $13,948,000. Marshall Wace LLP boosted its stake in shares of Harris Corp. by 27.6% in the fourth quarter. Marshall Wace LLP now owns 123,030 shares of the company’s stock worth $10,691,000 after buying an additional 26,630 shares in the last quarter. Finally, I.G. Investment Management LTD. boosted its stake 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 in 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.
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