Analysts Set Harris Co. (HRS) PT at $178.00

Shares of Harris Co. (NYSE:HRS) have received a consensus recommendation of “Buy” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $178.00.

A number of brokerages have recently weighed in on HRS. Argus raised their price objective on Harris to $190.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Raymond James raised their price objective on Harris from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, October 16th. Credit Suisse Group raised their price objective on Harris from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, August 1st. Zacks Investment Research upgraded Harris from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, UBS Group began coverage on Harris in a research report on Wednesday, August 15th. They set a “neutral” rating and a $175.00 price objective for the company.

NYSE:HRS traded down $0.19 on Monday, reaching $160.84. 1,338,993 shares of the company’s stock traded hands, compared to its average volume of 1,128,318. The company has a quick ratio of 0.73, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The stock has a market cap of $18.89 billion, a PE ratio of 24.74, a P/E/G ratio of 3.41 and a beta of 1.20. Harris has a 12 month low of $135.16 and a 12 month high of $175.50.



Harris (NYSE:HRS) last posted its quarterly earnings results on Sunday, October 14th. The communications equipment provider reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.06. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Harris had a return on equity of 26.59% and a net margin of 12.20%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $1.38 earnings per share. Sell-side analysts anticipate that Harris will post 7.86 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 1.70%. Harris’s payout ratio is 42.15%.

In related news, SVP Sheldon J. Fox sold 45,800 shares of Harris stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $163.13, for a total value of $7,471,354.00. Following the completion of the transaction, the senior vice president now owns 95,448 shares in the company, valued at $15,570,432.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 26,311 shares of Harris stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $162.80, for a total value of $4,283,430.80. Following the completion of the transaction, the insider now owns 1,286 shares of the company’s stock, valued at approximately $209,360.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,712 shares of company stock valued at $15,407,341. Company insiders own 2.51% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its position in Harris by 40.5% in the second quarter. CWM LLC now owns 1,183 shares of the communications equipment provider’s stock worth $171,000 after acquiring an additional 341 shares in the last quarter. Bridgeworth LLC grew its position in Harris by 28.0% in the second quarter. Bridgeworth LLC now owns 1,600 shares of the communications equipment provider’s stock worth $230,000 after acquiring an additional 350 shares in the last quarter. Sigma Planning Corp grew its position in Harris by 22.9% in the second quarter. Sigma Planning Corp now owns 1,907 shares of the communications equipment provider’s stock worth $276,000 after acquiring an additional 355 shares in the last quarter. Ascension Asset Management LLC grew its position in Harris by 3.0% in the second quarter. Ascension Asset Management LLC now owns 13,075 shares of the communications equipment provider’s stock worth $1,890,000 after acquiring an additional 375 shares in the last quarter. Finally, Congress Asset Management Co. MA grew its position in Harris by 0.9% in the third quarter. Congress Asset Management Co. MA now owns 41,535 shares of the communications equipment provider’s stock worth $7,028,000 after acquiring an additional 376 shares in the last quarter. Institutional investors own 85.68% of the company’s stock.

Harris Company Profile

Harris Corporation provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems. It designs, develops, and manufactures radio communications products and systems, including single channel ground and airborne radio systems, multiband manpack and handheld radios, multi-channel manpack and airborne radios, and single-channel airborne radios, as well as wideband rifleman team, ground, and high frequency manpack radios.

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Analyst Recommendations for Harris (NYSE:HRS)

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