Insider Selling: David Rickard Sells 4,228 Shares of Harris Corp. Stock (HRS)
Harris Corp. (NYSE:HRS) Director David Rickard sold 4,228 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $57.79, for a total transaction of $244,336.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on HRS shares. Analysts at Raymond James upgraded shares of Harris Corp. (NYSE:HRS) from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday. They now have a $65.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Harris Corp. (NYSE:HRS) in a research note to investors on Wednesday, September 18th. They now have a $62.00 price target on the stock. Finally, 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.
Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.33.
Shares of Harris Corp. (NYSE:HRS) traded up 2.65% during mid-day trading on Wednesday, hitting $59.56. 636,284 shares of the company’s stock traded hands. Harris Corp. has a 1-year low of $41.08 and a 1-year high of $59.18. The stock’s 50-day moving average is $57.49 and its 200-day moving average is $50.65. The company has a market cap of $6.369 billion and a P/E ratio of 59.08.
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. On average, analysts predict that Harris Corp. will post $4.74 earnings per share for the current fiscal year.
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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