Insider Selling: Dana A. Mehnert Sells 33,770 Shares of Harris Corp. Stock (HRS)
Harris Corp. (NYSE:HRS) Insider Dana A. Mehnert sold 33,770 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $68.43, for a total value of $2,310,881.10. Following the sale, the insider now directly owns 37,439 shares of the company’s stock, valued at approximately $2,561,951. 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 Barclays reiterated an “underweight” rating on shares of Harris Corp. in a research note on Wednesday, July 30th. They now have a $71.00 price target on the stock, down previously from $72.00. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Harris Corp. from $60.00 to $64.00 in a research note on Wednesday, July 30th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Harris Corp. in a research note on Friday, June 27th. They now have a $79.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $70.50.
Harris Corp. (NYSE:HRS) traded up 0.94% on Monday, hitting $69.08. 675,156 shares of the company’s stock traded hands. Harris Corp. has a 52 week low of $55.46 and a 52 week high of $79.32. The stock’s 50-day moving average is $73.74 and its 200-day moving average is $73.24. The company has a market cap of $7.302 billion and a P/E ratio of 13.82.
Harris Corp. (NYSE:HRS) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.13. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts predict that Harris Corp. will post $4.86 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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