Harris Corporation (NYSE: HRS) recently received a number of ratings updates from brokerages and research firms:

  • 10/3/2017 – Harris Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Harris Corporation have outperformed its industry so far this year. The company's efforts to reward shareholders through dividends and buybacks are impressive. In August, the company raised its quarterly dividend by 8% to 57 cents per share from 53 cents per share. This is the 16th such annual dividend increase by the company. The company has an impressive earnings history having surpassed the Zacks Consensus Estimate in three of the preceding four quarters. However, the company's revenue related woes are concerning. Moreover, the disappointing performance of its Space and Intelligence Systems unit may hurt the top line going forward. Harris is also a highly leveraged company. High integration and restructuring costs from acquisition are limiting bottom-line growth. Additionally, weakness in international markets may result in lower-than-expected sales of tactical radio products.”
  • 10/2/2017 – Harris Corporation had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $134.00 price target on the stock.
  • 10/2/2017 – Harris Corporation was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/21/2017 – Harris Corporation had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $135.00 price target on the stock.
  • 9/19/2017 – Harris Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Harris Corporation have outperformed the industry it belongs to so far this year. The company's efforts to reward shareholders through dividends and buybacks is impressive. The company recently hiked its quarterly dividend by 8% to 57 cents per share from 53 cents per share. This is the 16th such annual dividend increase by the company.The improved scenario at the Communication Systems and Electronic Systems unit are expected to aid the company's top line going forward. However, the company's high debt levels raise concerns. Though positive on the company's growth by acquisition strategy, we note that all the buyouts have integration risks associated with them. Moreover, high integration and restructuring costs are limiting bottom-line growth. Additionally, weakness in international markets may result in lower-than-expected sales of tactical radio products.”
  • 9/12/2017 – Harris Corporation had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $134.00 price target on the stock, up previously from $125.00.
  • 9/1/2017 – Harris Corporation was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/28/2017 – Harris Corporation is now covered by analysts at Credit Suisse Group. They set an “outperform” rating and a $144.00 price target on the stock.
  • 8/24/2017 – Harris Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Harris Corporation have outperformed the industry it belongs to in the last three months. The company reported better than expected revenues in the fiscal fourth quarter. Moreover, earnings in the quarter improved year over year. Harris has an impressive dividend payment record. In Aug 2016, the company raised its quarterly dividend by 6%. The company now expects earnings per share (on an adjusted basis) for fiscal 2018 in the band of $5.85 to $6.05. It projects fiscal 2018 revenue in the band of $6.02–$6.14 billion. However, the company's fourth quarter fiscal 2017 revenues declined year over year. Though positive on the company's growth by acquisition strategy, we note that all acquisitions have integration risks associated with them. Moreover, weakness in international markets may result in lower-than-expected sales of tactical radio products. Harris' high debt levels also raise concerns.”
  • 8/5/2017 – Harris Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of Harris Corporation (NYSE HRS) opened at 133.31 on Wednesday. Harris Corporation has a 1-year low of $88.89 and a 1-year high of $133.80. The firm has a market capitalization of $15.97 billion, a P/E ratio of 30.05 and a beta of 1.18. The stock has a 50 day moving average of $124.97 and a 200-day moving average of $115.03.

Harris Corporation (NYSE:HRS) last issued its quarterly earnings data on Tuesday, August 1st. The communications equipment provider reported $1.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.49. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. Harris Corporation had a return on equity of 23.49% and a net margin of 8.53%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 earnings per share. On average, equities analysts expect that Harris Corporation will post $6.01 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.71%. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 7th. Harris Corporation’s payout ratio is presently 51.47%.

In other Harris Corporation news, SVP Scott T. Mikuen sold 13,600 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $123.36, for a total value of $1,677,696.00. Following the sale, the senior vice president now owns 61,349 shares of the company’s stock, valued at approximately $7,568,012.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Sheldon J. Fox sold 50,300 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $118.24, for a total value of $5,947,472.00. Following the completion of the sale, the senior vice president now directly owns 73,092 shares in the company, valued at approximately $8,642,398.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,357 shares of company stock valued at $8,643,111. 1.91% of the stock is owned by company insiders.

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