Harris Co. (NYSE:HRS) Given Average Recommendation of “Buy” by Brokerages

Shares of Harris Co. (NYSE:HRS) have been assigned an average rating of “Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $201.13.

HRS has been the topic of a number of recent research reports. ValuEngine upgraded shares of Harris from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Zacks Investment Research upgraded shares of Harris from a “sell” rating to a “hold” rating and set a $201.00 price target on the stock in a research report on Tuesday, April 30th. Raymond James raised their price target on shares of Harris from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Barclays raised their price target on shares of Harris from $205.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Finally, Argus raised their price target on shares of Harris to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, May 8th.

Harris stock opened at $189.13 on Friday. The business has a 50-day simple moving average of $189.94. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.15 and a current ratio of 1.42. Harris has a 1 year low of $123.24 and a 1 year high of $200.77. The company has a market cap of $22.38 billion, a P/E ratio of 29.10, a P/E/G ratio of 2.91 and a beta of 1.03.

Harris (NYSE:HRS) last posted its quarterly earnings results on Wednesday, May 1st. The communications equipment provider reported $2.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.07. Harris had a net margin of 13.60% and a return on equity of 27.13%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the firm posted $1.67 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts expect that Harris will post 8.15 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Friday, May 17th were given a $0.685 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.74 annualized dividend and a yield of 1.45%. Harris’s dividend payout ratio is presently 42.15%.

In related news, insider William H. Gattle sold 5,131 shares of Harris stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $178.71, for a total value of $916,961.01. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robert L. Duffy sold 9,124 shares of Harris stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $179.99, for a total transaction of $1,642,228.76. The disclosure for this sale can be found here. Company insiders own 2.51% of the company’s stock.

Large investors have recently modified their holdings of the stock. Sigma Planning Corp increased its stake in Harris by 3.1% during the 1st quarter. Sigma Planning Corp now owns 2,022 shares of the communications equipment provider’s stock valued at $323,000 after buying an additional 61 shares during the period. Weatherstone Capital Management increased its stake in Harris by 2.8% during the 1st quarter. Weatherstone Capital Management now owns 2,756 shares of the communications equipment provider’s stock valued at $440,000 after buying an additional 74 shares during the period. Shine Investment Advisory Services Inc. increased its stake in Harris by 25.1% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 419 shares of the communications equipment provider’s stock valued at $67,000 after buying an additional 84 shares during the period. Thrivent Financial for Lutherans increased its stake in Harris by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 5,188 shares of the communications equipment provider’s stock valued at $699,000 after buying an additional 91 shares during the period. Finally, CWM Advisors LLC increased its stake in Harris by 1.9% during the 4th quarter. CWM Advisors LLC now owns 4,905 shares of the communications equipment provider’s stock valued at $660,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

About Harris

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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