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.
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.
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.
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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