Harris Corp. (HRS) Plans Quarterly Dividend of $0.42
Harris Corp. (NYSE:HRS) declared a quarterly dividend on Friday, October 25th, American Banking News.com reports. Stockholders of record on Thursday, November 21st will be given a dividend of $0.42 per share on Friday, December 6th. This represents a $1.68 dividend on an annualized basis and a yield of 2.80%.
A number of research firms have recently commented on HRS. Analysts at Raymond James upgraded shares of Harris Corp. from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday, September 25th. They now have a $65.00 price target on the stock. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Harris Corp. 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. 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. Two equities 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. The company currently has an average rating of “Hold” and an average price target of $54.60.
Shares of Harris Corp. (NYSE:HRS) traded down 0.69% during mid-day trading on Friday, hitting $59.645. 148,987 shares of the company’s stock traded hands. Harris Corp. has a 52 week low of $41.08 and a 52 week high of $58.72. The stock’s 50-day moving average is $57.03 and its 200-day moving average is $50.07. The company has a market cap of $6.378 billion and a P/E ratio of 61.16.
Harris Corp. (NYSE:HRS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the 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.
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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