Harris Corporation (NYSE:HRS)‘s stock had its “buy” rating reaffirmed by Jefferies Group LLC in a research note issued to investors on Thursday. They presently have a $135.00 price target on the communications equipment provider’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 2.43% from the stock’s previous close.

Other analysts have also issued research reports about the company. Zacks Investment Research raised Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday. Cowen and Company reissued a “buy” rating and set a $134.00 price target (up previously from $125.00) on shares of Harris Corporation in a report on Tuesday, September 12th. ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Credit Suisse Group began coverage on Harris Corporation in a report on Monday, August 28th. They set an “outperform” rating and a $144.00 price target for the company. Finally, BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Harris Corporation has a consensus rating of “Buy” and a consensus target price of $121.57.

Harris Corporation (NYSE HRS) opened at 131.80 on Thursday. The company has a market cap of $15.78 billion, a P/E ratio of 29.71 and a beta of 1.19. The stock’s 50 day moving average price is $120.91 and its 200 day moving average price is $113.51. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $131.89.

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

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In other news, SVP Sheldon J. Fox sold 50,300 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $118.24, for a total value of $5,947,472.00. Following the completion of the transaction, the senior vice president now owns 73,092 shares of the company’s stock, valued at $8,642,398.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher D. Young sold 4,070 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $118.93, for a total value of $484,045.10. Following the completion of the transaction, the insider now directly owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The disclosure for this sale can be found here. Insiders have sold 72,357 shares of company stock valued at $8,643,111 in the last three months. 1.91% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRS. Profund Advisors LLC boosted its stake in shares of Harris Corporation by 15.3% in the first quarter. Profund Advisors LLC now owns 3,542 shares of the communications equipment provider’s stock worth $394,000 after acquiring an additional 470 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Harris Corporation by 8.1% in the first quarter. UBS Asset Management Americas Inc. now owns 339,446 shares of the communications equipment provider’s stock worth $37,770,000 after acquiring an additional 25,539 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of Harris Corporation by 36.6% in the first quarter. State of Wisconsin Investment Board now owns 83,122 shares of the communications equipment provider’s stock worth $9,249,000 after acquiring an additional 22,264 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Harris Corporation by 2.3% in the first quarter. Mutual of America Capital Management LLC now owns 27,129 shares of the communications equipment provider’s stock worth $3,019,000 after acquiring an additional 599 shares during the period. Finally, Norinchukin Bank The boosted its stake in shares of Harris Corporation by 7.3% in the first quarter. Norinchukin Bank The now owns 8,088 shares of the communications equipment provider’s stock worth $900,000 after acquiring an additional 551 shares during the period. 84.99% of the stock is owned by hedge funds and other institutional investors.

About Harris Corporation

Analyst Recommendations for Harris Corporation (NYSE:HRS)

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