Insider Selling: Harris Corporation (HRS) Insider Sells 4,070 Shares of Stock
Harris Corporation (NYSE:HRS) insider Christopher D. Young sold 4,070 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $118.93, for a total value of $484,045.10. Following the sale, the insider now owns 46,131 shares of the company’s stock, valued at approximately $5,486,359.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Harris Corporation (NYSE HRS) traded up 0.12% on Friday, hitting $118.37. The stock had a trading volume of 530,829 shares. The firm’s 50-day moving average is $113.79 and its 200 day moving average is $110.39. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $119.07. The stock has a market cap of $14.24 billion, a P/E ratio of 26.68 and a beta of 1.22.
Harris Corporation (NYSE:HRS) last posted its quarterly earnings results on Tuesday, August 1st. The communications equipment provider reported $1.49 EPS for the quarter, meeting the consensus estimate of $1.49. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 EPS. Equities analysts forecast that Harris Corporation will post $6.00 EPS for the current year.
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A number of equities research analysts have weighed in on HRS shares. Zacks Investment Research lowered Harris Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Cowen and Company restated a “buy” rating and set a $125.00 price objective on shares of Harris Corporation in a research note on Thursday, July 6th. ValuEngine upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and set a $125.00 price objective on shares of Harris Corporation in a research note on Friday, July 7th. Finally, BidaskClub upgraded Harris Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $113.29.
A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Harris Corporation by 11.3% in the first quarter. Dimensional Fund Advisors LP now owns 590,844 shares of the communications equipment provider’s stock valued at $65,744,000 after buying an additional 59,933 shares during the period. Bank of Montreal Can boosted its position in Harris Corporation by 39.2% in the second quarter. Bank of Montreal Can now owns 122,868 shares of the communications equipment provider’s stock valued at $13,403,000 after buying an additional 34,614 shares during the period. Knights of Columbus Asset Advisors LLC purchased a new position in Harris Corporation during the first quarter valued at approximately $1,458,000. Bank of Nova Scotia boosted its position in Harris Corporation by 946.4% in the first quarter. Bank of Nova Scotia now owns 28,473 shares of the communications equipment provider’s stock valued at $3,168,000 after buying an additional 25,752 shares during the period. Finally, Morgan Stanley boosted its position in Harris Corporation by 41.4% in the first quarter. Morgan Stanley now owns 700,940 shares of the communications equipment provider’s stock valued at $77,993,000 after buying an additional 205,317 shares during the period. 85.13% of the stock is owned by hedge funds and other institutional investors.
About Harris Corporation
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