Harris (HRS) Hits New 12-Month High and Low at $169.53

Shares of Harris Co. (NYSE:HRS) reached a new 52-week high and low during mid-day trading on Friday . The company traded as low as $169.53 and last traded at $168.09, with a volume of 196638 shares traded. The stock had previously closed at $168.86.

A number of analysts have issued reports on HRS shares. Citigroup raised their target price on Harris from $160.00 to $183.00 and gave the stock a “buy” rating in a research report on Tuesday, April 10th. Argus initiated coverage on Harris in a research report on Wednesday, April 4th. They issued a “buy” rating and a $196.00 price target for the company. Cowen reiterated a “buy” rating and issued a $170.00 price target on shares of Harris in a research report on Tuesday, January 30th. Zacks Investment Research upgraded Harris from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research report on Thursday, January 18th. Finally, ValuEngine upgraded Harris from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $169.33.

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The stock has a market cap of $19,979.85, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 4.36 and a beta of 1.27. The company has a quick ratio of 0.68, a current ratio of 1.22 and a debt-to-equity ratio of 1.13.

Harris (NYSE:HRS) last announced its quarterly earnings results on Tuesday, January 30th. The communications equipment provider reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.28. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Harris had a return on equity of 24.49% and a net margin of 8.63%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 earnings per share. analysts expect that Harris Co. will post 6.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Thursday, March 8th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 7th. Harris’s dividend payout ratio is 41.23%.

In related news, SVP Sheldon J. Fox sold 8,682 shares of Harris stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $156.00, for a total transaction of $1,354,392.00. Following the completion of the sale, the senior vice president now owns 53,724 shares of the company’s stock, valued at $8,380,944. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Dana A. Mehnert sold 51,200 shares of Harris stock in a transaction on Monday, March 5th. The shares were sold at an average price of $153.19, for a total value of $7,843,328.00. The disclosure for this sale can be found here. Insiders have sold 79,882 shares of company stock valued at $12,221,320 in the last three months. 1.91% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of HRS. Dimensional Fund Advisors LP lifted its stake in Harris by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 699,934 shares of the communications equipment provider’s stock worth $92,165,000 after purchasing an additional 5,856 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Harris 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 acquiring an additional 23,163 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Harris 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 acquiring an additional 521 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Harris by 4.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 262,576 shares of the communications equipment provider’s stock valued at $34,576,000 after acquiring an additional 10,533 shares during the last quarter. Finally, Abner Herrman & Brock LLC bought a new stake in shares of Harris in the 4th quarter valued at about $209,000. 84.93% of the stock is owned by institutional investors.

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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, 2-channel vehicular 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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