Harris Corporation (NYSE:HRS) SVP Scott T. Mikuen sold 4,387 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $121.70, for a total value of $533,897.90. The sale was disclosed in a document filed with the SEC, which is available at this link.

Harris Corporation (NYSE:HRS) opened at 123.29 on Thursday. The stock’s 50 day moving average is $119.16 and its 200-day moving average is $112.92. Harris Corporation has a 52-week low of $88.89 and a 52-week high of $123.76. The company has a market cap of $14.77 billion, a PE ratio of 27.79 and a beta of 1.19.

Harris Corporation (NYSE:HRS) last released its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.49. Harris Corporation had a net margin of 8.53% and a return on equity of 23.49%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company earned $1.45 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts predict that Harris Corporation will post $6.01 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 1.85%. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. Harris Corporation’s payout ratio is currently 51.47%.

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Several hedge funds and other institutional investors have recently made changes to their positions in HRS. Profund Advisors LLC increased its position in shares of Harris Corporation by 15.3% during the first quarter. Profund Advisors LLC now owns 3,542 shares of the communications equipment provider’s stock valued at $394,000 after buying an additional 470 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Harris Corporation by 81.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 13,154 shares of the communications equipment provider’s stock valued at $1,514,000 after buying an additional 5,916 shares during the period. Comerica Bank increased its position in shares of Harris Corporation by 1.5% during the first quarter. Comerica Bank now owns 41,364 shares of the communications equipment provider’s stock valued at $4,686,000 after buying an additional 627 shares during the period. Pictet Asset Management Ltd. increased its position in shares of Harris Corporation by 4.8% during the first quarter. Pictet Asset Management Ltd. now owns 63,871 shares of the communications equipment provider’s stock valued at $7,107,000 after buying an additional 2,900 shares during the period. Finally, LS Investment Advisors LLC increased its position in shares of Harris Corporation by 2.9% during the first quarter. LS Investment Advisors LLC now owns 4,874 shares of the communications equipment provider’s stock valued at $542,000 after buying an additional 139 shares during the period. Institutional investors own 83.33% of the company’s stock.

A number of analysts have weighed in on the company. Cowen and Company reiterated a “buy” rating and set a $134.00 price target (up from $125.00) on shares of Harris Corporation in a report on Tuesday. BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. ValuEngine raised shares of Harris Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Harris Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $125.00 price objective on shares of Harris Corporation in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $121.57.

Harris Corporation Company Profile

Insider Buying and Selling by Quarter for Harris Corporation (NYSE:HRS)

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