Harris (HRS) Hits New 1-Year High and Low at $169.53

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

Several research analysts have issued reports on HRS shares. Zacks Investment Research cut shares of Harris from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Cowen reissued a “buy” rating and set a $157.00 price objective on shares of Harris in a report on Monday, January 22nd. ValuEngine raised shares of Harris from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Credit Suisse Group boosted their price objective on shares of Harris from $167.00 to $187.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Barclays started coverage on shares of Harris in a report on Thursday, March 29th. They set an “equal weight” rating and a $173.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Harris has an average rating of “Buy” and an average target price of $169.33.

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The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.68 and a current ratio of 1.22. The firm has a market cap of $20,048.71, a price-to-earnings ratio of 30.38, a P/E/G ratio of 4.37 and a beta of 1.27.



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

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

A number of hedge funds and other institutional investors have recently made changes to their positions in HRS. Woodard & Co. Asset Management Group Inc. ADV bought a new stake in Harris during the fourth quarter valued at approximately $134,000. Tower Research Capital LLC TRC grew its position in Harris by 980.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,243 shares of the communications equipment provider’s stock valued at $176,000 after buying an additional 1,128 shares during the period. Calton & Associates Inc. bought a new position in shares of Harris in the fourth quarter worth approximately $180,000. First National Bank & Trust Co. of Newtown bought a new position in shares of Harris in the fourth quarter worth approximately $200,000. Finally, Koshinski Asset Management Inc. bought a new position in shares of Harris in the fourth quarter worth approximately $203,000. Institutional investors own 84.93% of the company’s stock.

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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, 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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