Harris Corporation (HRS) Stock Rating Reaffirmed by Cowen and Company

Harris Corporation (NYSE:HRS)‘s stock had its “buy” rating reiterated by equities researchers at Cowen and Company in a research report issued to clients and investors on Thursday. They currently have a $150.00 price target on the communications equipment provider’s stock. Cowen and Company’s price target points to a potential upside of 9.71% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Credit Suisse Group began coverage on Harris Corporation in a research note on Monday, August 28th. They set an “outperform” rating and a $144.00 price target on the stock. Zacks Investment Research lowered Harris Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $135.00 target price (up from $125.00) on shares of Harris Corporation in a report on Friday, July 14th. BidaskClub raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, ValuEngine raised Harris Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $133.86.

Harris Corporation (HRS) opened at 136.73 on Thursday. The firm has a market cap of $16.38 billion, a price-to-earnings ratio of 30.82 and a beta of 1.18. The firm has a 50-day moving average price of $130.76 and a 200 day moving average price of $117.25. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $137.17.

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

TRADEMARK VIOLATION WARNING: “Harris Corporation (HRS) Stock Rating Reaffirmed by Cowen and Company” was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this news story on another domain, it was stolen and republished in violation of US and international copyright laws. The correct version of this news story can be accessed at https://stocknewstimes.com/2017/10/21/harris-corporation-hrs-stock-rating-reaffirmed-by-cowen-and-company-2.html.

In other Harris Corporation news, insider Christopher D. Young sold 4,070 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $118.93, for a total transaction of $484,045.10. Following the sale, the insider now owns 46,131 shares in the company, valued at $5,486,359.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sheldon J. Fox sold 50,300 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $118.24, for a total value of $5,947,472.00. Following the sale, the senior vice president now owns 73,092 shares in the company, valued at approximately $8,642,398.08. The disclosure for this sale can be found here. Insiders sold 72,357 shares of company stock worth $8,643,111 in the last quarter. 1.91% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP purchased a new stake in Harris Corporation during the second quarter valued at about $2,342,000. Dimensional Fund Advisors LP raised its position in Harris Corporation by 11.3% during the first quarter. Dimensional Fund Advisors LP now owns 590,844 shares of the communications equipment provider’s stock valued at $65,744,000 after purchasing an additional 59,933 shares in the last quarter. Prudential PLC raised its position in Harris Corporation by 25.5% during the second quarter. Prudential PLC now owns 81,028 shares of the communications equipment provider’s stock valued at $8,839,000 after purchasing an additional 16,476 shares in the last quarter. Bank of Montreal Can raised its position in Harris Corporation by 39.2% during the second quarter. Bank of Montreal Can now owns 122,868 shares of the communications equipment provider’s stock valued at $13,403,000 after purchasing an additional 34,614 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Harris Corporation during the second quarter valued at about $2,368,000. Institutional investors and hedge funds own 84.98% of the company’s stock.

About Harris Corporation

Analyst Recommendations for Harris Corporation (NYSE:HRS)

Receive News & Ratings for Harris Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply