Investors Sell Shares of Harris Corp. (HRS) on Strength (HRS)
Investors sold shares of Harris Corp. (NYSE:HRS) on strength during trading on Tuesday. $32.66 million flowed into the stock on the tick-up and $43.98 million flowed out of the stock on the tick-down, for a money net flow of $11.32 million out of the stock. Of all companies tracked, Harris Corp. had the 0th highest net out-flow for the day. Harris Corp. traded up $2.32 for the day and closed at $87.97
Several research firms recently issued reports on HRS. Jefferies Group reaffirmed a “buy” rating on shares of Harris Corp. in a research note on Friday, June 10th. Zacks Investment Research lowered shares of Harris Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, April 21st. Goldman Sachs Group Inc. boosted their target price 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. Sterne Agee CRT reissued a “buy” rating on shares of Harris Corp. in a research report on Monday, May 16th. Finally, Drexel Hamilton reissued a “buy” rating on shares of Harris Corp. in a research report on Friday, June 17th. One 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’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $97.43.
The company’s 50-day moving average price is $83.93 and its 200 day moving average price is $79.88. The company has a market capitalization of $10.97 billion and a price-to-earnings ratio of 99.74.
Harris Corp. (NYSE:HRS) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.02. During the same period in the prior year, the company earned $1.32 EPS. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. The firm’s revenue was up 24.0% on a year-over-year basis. On average, equities research analysts forecast that Harris Corp. will post $5.69 EPS for the current fiscal year.
In related news, SVP Dana A. Mehnert sold 6,600 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $82.03, for a total value of $541,398.00. Following the completion of the transaction, the senior vice president now owns 69,065 shares of the company’s stock, valued at $5,665,401.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. Advantus Capital Management Inc increased its position in Harris Corp. by 3.0% in the fourth quarter. Advantus Capital Management Inc now owns 11,959 shares of the company’s stock worth $1,039,000 after buying an additional 350 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of Harris Corp. by 5.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 16,498 shares of the company’s stock worth $1,434,000 after buying an additional 910 shares during the period. Eaton Vance Management increased its position in shares of Harris Corp. by 3.2% in the fourth quarter. Eaton Vance Management now owns 19,377 shares of the company’s stock worth $1,684,000 after buying an additional 597 shares during the period. Brown Advisory Inc. increased its position in shares of Harris Corp. by 2.8% in the fourth quarter. Brown Advisory Inc. now owns 21,483 shares of the company’s stock worth $1,867,000 after buying an additional 578 shares during the period. Finally, Aberdeen Asset Management PLC UK increased its position in shares of Harris Corp. by 12.7% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 28,833 shares of the company’s stock worth $2,191,000 after buying an additional 3,247 shares during the period.
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.