BidaskClub upgraded shares of Harris Corporation (NYSE:HRS) from a hold rating to a buy rating in a research report report published on Saturday.

A number of other research firms have also recently issued reports on HRS. Cowen and Company reaffirmed a buy rating and issued a $125.00 price target on shares of Harris Corporation in a report on Thursday, July 6th. ValuEngine raised Harris Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. Zacks Investment Research raised Harris Corporation from a hold rating to a buy rating and set a $123.00 price target for the company in a report on Monday, April 10th. Jefferies Group LLC reaffirmed a buy rating and issued a $125.00 price target on shares of Harris Corporation in a report on Friday, July 7th. Finally, Barclays PLC cut Harris Corporation from an overweight rating to an equal weight rating and set a $110.00 price target for the company. in a report on Monday, May 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $113.29.

Shares of Harris Corporation (NYSE HRS) traded down 0.19% during trading on Friday, reaching $116.69. 390,620 shares of the company were exchanged. Harris Corporation has a 52-week low of $88.23 and a 52-week high of $117.71. The stock has a 50-day moving average of $112.47 and a 200 day moving average of $109.74. The stock has a market capitalization of $14.04 billion, a P/E ratio of 26.31 and a beta of 1.22.

Harris Corporation (NYSE:HRS) last released its quarterly earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.49. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the business posted $1.45 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Harris Corporation will post $6.00 earnings per share for the current fiscal year.

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In related news, SVP Robert L. Duffy sold 33,600 shares of Harris Corporation stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $112.01, for a total value of $3,763,536.00. Following the completion of the sale, the senior vice president now directly owns 50,311 shares in the company, valued at $5,635,335.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.71% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Harris Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,291,259 shares of the communications equipment provider’s stock worth $1,478,919,000 after buying an additional 379,265 shares during the last quarter. BlackRock Inc. raised its stake in shares of Harris Corporation by 3,267.9% in the first quarter. BlackRock Inc. now owns 7,670,217 shares of the communications equipment provider’s stock worth $853,463,000 after buying an additional 7,442,472 shares during the last quarter. Boston Partners raised its stake in shares of Harris Corporation by 0.7% in the first quarter. Boston Partners now owns 7,185,264 shares of the communications equipment provider’s stock worth $799,505,000 after buying an additional 51,634 shares during the last quarter. State Street Corp raised its stake in shares of Harris Corporation by 3.9% in the first quarter. State Street Corp now owns 5,085,846 shares of the communications equipment provider’s stock worth $565,898,000 after buying an additional 188,952 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Harris Corporation by 3.1% in the first quarter. Wellington Management Group LLP now owns 2,444,847 shares of the communications equipment provider’s stock worth $272,038,000 after buying an additional 74,146 shares during the last quarter. Hedge funds and other institutional investors own 85.64% of the company’s stock.

About Harris Corporation

Analyst Recommendations for Harris Corporation (NYSE:HRS)

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