Insider Selling: Harris Corp. Director Sells 1,057 Shares of Stock (HRS)
Harris Corp. (NYSE:HRS) Director Stephen Kaufman sold 1,057 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $57.82, for a total transaction of $61,115.74. Following the completion of the sale, the director now directly owns 4,000 shares in the company. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on HRS shares. Analysts at JPMorgan Chase & Co. raised their price target on shares of Harris Corp. (NYSE:HRS) from $42.00 to $45.00 in a research note to investors on Thursday, August 1st. They now have an “underweight” rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Harris Corp. (NYSE:HRS) from $45.00 to $53.00 in a research note to investors on Thursday, August 1st. They now have an “equal weight” rating on the stock. Finally, analysts at Zacks upgraded shares of Harris Corp. (NYSE:HRS) from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, June 20th. They now have a $52.00 price target on the stock.
Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Harris Corp. currently has an average rating of “Hold” and a consensus target price of $50.17.
Shares of Harris Corp. (NYSE:HRS) traded down 0.48% on Friday, hitting $57.93. 564,193 shares of the company’s stock traded hands. Harris Corp. has a one year low of $41.08 and a one year high of $58.72. The stock’s 50-day moving average is $56.89 and its 200-day moving average is $49.99. The company has a market cap of $6.195 billion and a P/E ratio of 59.28.
Harris Corp. (NYSE:HRS) last released its earnings data on Tuesday, July 30th. The company reported $1.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.15 by $0.26. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the company posted $1.42 earnings per share. Harris Corp.’s revenue was down 5.3% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 24th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Friday, September 6th. This is a positive change from Harris Corp.’s previous quarterly dividend of $0.37.
Harris Corporation (NYSE:HRS), together with its subsidiaries, is an international communications and information technology (IT) company serving government and commercial markets in more than 125 countries.
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