Harris Co. (NYSE:HRS) SVP Robert L. Duffy sold 40,000 shares of the stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $158.66, for a total value of $6,346,400.00. Following the sale, the senior vice president now directly owns 63,918 shares of the company’s stock, valued at $10,141,229.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
NYSE:HRS opened at $162.24 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.27 and a quick ratio of 1.04. Harris Co. has a 1 year low of $123.24 and a 1 year high of $175.50. The firm has a market capitalization of $19.06 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 2.50 and a beta of 1.23.
Harris (NYSE:HRS) last released its earnings results on Tuesday, January 29th. The communications equipment provider reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.91 by $0.05. Harris had a return on equity of 26.55% and a net margin of 13.29%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business posted $1.67 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts predict that Harris Co. will post 8.01 EPS for the current fiscal year.
A number of analysts recently commented on HRS shares. Cowen reaffirmed a “buy” rating and set a $194.00 price target on shares of Harris in a research report on Tuesday, January 29th. ValuEngine raised Harris from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Barclays decreased their price target on Harris from $181.00 to $161.00 and set an “overweight” rating for the company in a research report on Tuesday, December 4th. Argus increased their price target on Harris from $170.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 30th. Finally, Zacks Investment Research raised Harris from a “hold” rating to a “buy” rating and set a $174.00 price target for the company in a research report on Thursday, January 31st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Harris presently has an average rating of “Buy” and an average target price of $182.33.
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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, 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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