Harris Corporation (NYSE:HRS) SVP Scott T. Mikuen sold 4,387 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $121.70, for a total transaction of $533,897.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Harris Corporation (NYSE:HRS) traded up 0.25% on Tuesday, hitting $123.58. 26,144 shares of the company’s stock traded hands. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 27.86 and a beta of 1.19. The firm’s 50-day moving average price is $118.75 and its 200 day moving average price is $112.75. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $123.58.
Harris Corporation (NYSE:HRS) last announced its quarterly earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, meeting analysts’ consensus estimates of $1.49. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. Harris Corporation’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.45 EPS. On average, equities research analysts expect that Harris Corporation will post $6.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.85%. Harris Corporation’s dividend payout ratio is 51.47%.
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HRS has been the subject of several research reports. ValuEngine upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research lowered shares of Harris Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Credit Suisse Group assumed coverage on shares of Harris Corporation in a research report on Monday, August 28th. They set an “outperform” rating and a $144.00 price objective for the company. BidaskClub upgraded shares of Harris Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Jefferies Group LLC reiterated 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. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $120.29.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Harris Corporation by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 13,405,643 shares of the communications equipment provider’s stock valued at $1,462,287,000 after acquiring an additional 114,384 shares during the last quarter. BlackRock Inc. increased its stake in shares of Harris Corporation by 2.3% in the 2nd quarter. BlackRock Inc. now owns 7,848,843 shares of the communications equipment provider’s stock valued at $856,150,000 after acquiring an additional 178,626 shares during the last quarter. State Street Corp increased its stake in shares of Harris Corporation by 3.9% in the 1st quarter. State Street Corp now owns 5,085,846 shares of the communications equipment provider’s stock valued at $565,898,000 after acquiring an additional 188,952 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Harris Corporation in the 2nd quarter valued at about $304,508,000. Finally, Janus Henderson Group PLC increased its stake in shares of Harris Corporation by 12,337.7% in the 2nd quarter. Janus Henderson Group PLC now owns 2,459,438 shares of the communications equipment provider’s stock valued at $268,276,000 after acquiring an additional 2,439,664 shares during the last quarter. 83.33% of the stock is owned by institutional investors.
Harris Corporation Company Profile
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