Harris Co. (NYSE:HRS) has received a consensus rating of “Buy” from the nine research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $183.43.
Several brokerages recently commented on HRS. Zacks Investment Research lowered Harris from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine raised Harris from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Cowen reaffirmed a “buy” rating and issued a $194.00 price objective on shares of Harris in a report on Thursday, February 7th. Finally, Argus lifted their price objective on Harris from $170.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 30th.
Shares of HRS stock traded down $0.51 during mid-day trading on Monday, hitting $165.65. The company’s stock had a trading volume of 485,851 shares, compared to its average volume of 916,351. Harris has a 52-week low of $123.24 and a 52-week high of $175.50. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.27 and a quick ratio of 1.04. The stock has a market capitalization of $19.54 billion, a P/E ratio of 25.48, a P/E/G ratio of 2.59 and a beta of 1.23.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.685 dividend. This represents a $2.74 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 7th. Harris’s payout ratio is currently 42.15%.
In other Harris news, SVP Robert L. Duffy sold 40,000 shares of the business’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $158.66, for a total transaction of $6,346,400.00. Following the completion of the sale, the senior vice president now owns 63,918 shares of the company’s stock, valued at $10,141,229.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.51% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. bought a new stake in Harris during the fourth quarter valued at about $31,000. Bronfman E.L. Rothschild L.P. grew its holdings in Harris by 48.8% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 308 shares of the communications equipment provider’s stock valued at $41,000 after purchasing an additional 101 shares during the period. Sonora Investment Management LLC bought a new stake in Harris during the first quarter valued at about $46,000. Financial Gravity Companies Inc. bought a new stake in Harris during the fourth quarter valued at about $67,000. Finally, Shine Investment Advisory Services Inc. grew its holdings in Harris by 25.1% during the first quarter. Shine Investment Advisory Services Inc. now owns 419 shares of the communications equipment provider’s stock valued at $67,000 after purchasing an additional 84 shares during the period. 91.66% of the stock is owned by institutional investors and hedge funds.
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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