Credit Suisse Group reaffirmed their outperform rating on shares of Harris Corporation (NYSE:HRS) in a research note issued to investors on Wednesday, November 1st, The Fly reports. They currently have a $155.00 target price on the communications equipment provider’s stock, up from their previous target price of $144.00. The analysts noted that the move was a valuation call.
Several other equities analysts also recently issued reports on HRS. BidaskClub upgraded shares of Harris Corporation from a hold rating to a buy rating in a research note on Saturday, August 5th. Cowen and Company restated a buy rating and issued a $150.00 price objective on shares of Harris Corporation in a research note on Tuesday, October 31st. Zacks Investment Research upgraded shares of Harris Corporation from a sell rating to a hold rating in a research note on Tuesday, October 3rd. ValuEngine downgraded shares of Harris Corporation from a buy rating to a hold rating in a research note on Monday, October 2nd. Finally, Jefferies Group LLC reiterated a buy rating and set a $135.00 target price on shares of Harris Corporation in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $145.43.
Harris Corporation (HRS) opened at $141.92 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.64 and a current ratio of 1.11. The company has a market cap of $16,670.00, a price-to-earnings ratio of 24.66, a P/E/G ratio of 3.33 and a beta of 1.12. Harris Corporation has a 12 month low of $99.13 and a 12 month high of $142.04.
Harris Corporation (NYSE:HRS) last issued its earnings results on Tuesday, October 31st. The communications equipment provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.44 billion. Harris Corporation had a net margin of 9.02% and a return on equity of 23.36%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 earnings per share. analysts expect that Harris Corporation will post 5.99 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.28 dividend on an annualized basis and a yield of 1.61%. Harris Corporation’s dividend payout ratio (DPR) is currently 42.62%.
In other Harris Corporation news, SVP Scott T. Mikuen sold 13,600 shares of Harris Corporation stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total value of $1,677,696.00. Following the transaction, the senior vice president now owns 61,349 shares in the company, valued at approximately $7,568,012.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Scott T. Mikuen sold 4,387 shares of Harris Corporation stock in a transaction on Friday, September 8th. The shares were sold at an average price of $121.70, for a total transaction of $533,897.90. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its holdings in shares of Harris Corporation by 1.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 47,358 shares of the communications equipment provider’s stock valued at $6,236,000 after purchasing an additional 521 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in shares of Harris Corporation in the 3rd quarter valued at $472,000. Sterling Capital Management LLC boosted its holdings in shares of Harris Corporation by 7.8% in the 3rd quarter. Sterling Capital Management LLC now owns 73,766 shares of the communications equipment provider’s stock valued at $9,714,000 after purchasing an additional 5,367 shares during the last quarter. Insight Capital Research & Management Inc. acquired a new position in shares of Harris Corporation in the 3rd quarter valued at $2,339,000. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Harris Corporation by 14.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 179,849 shares of the communications equipment provider’s stock valued at $23,683,000 after purchasing an additional 23,163 shares during the last quarter. Institutional investors own 83.84% of the company’s stock.
Harris Corporation Company Profile
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