Harris Corp. Plans Quarterly Dividend of $0.42 (HRS)
Harris Corp. (NYSE:HRS) announced a quarterly dividend on Friday, April 25th, AnalystRatings.Net reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.42 per share on Friday, June 13th. This represents a $1.68 annualized dividend and a dividend yield of 2.33%.
Several analysts have recently commented on the stock. Analysts at Barclays downgraded shares of Harris Corp. from an “equal weight” rating to an “underweight” rating in a research note on Monday, March 17th. They now have a $73.00 price target on the stock, up previously from $70.00. Analysts at JPMorgan Chase & Co. raised their price target on shares of Harris Corp. from $54.00 to $60.00 in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Harris Corp. presently has a consensus rating of “Hold” and an average target price of $68.00.
Harris Corp. (NYSE:HRS) opened at 71.75 on Friday. Harris Corp. has a 52-week low of $43.72 and a 52-week high of $75.33. The stock’s 50-day moving average is $72.77 and its 200-day moving average is $68.14. The company has a market cap of $7.663 billion and a P/E ratio of 19.24.
Harris Corp. (NYSE:HRS) last announced its earnings results on Monday, January 27th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.09. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, analysts predict that Harris Corp. will post $4.93 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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