Harris Corporation (NYSE:HRS) has been assigned an average recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $128.00.

Several analysts recently weighed in on the stock. Seaport Global Securities reiterated a “buy” rating and issued a $145.00 price target (up previously from $135.00) on shares of Harris Corporation in a report on Monday. Cowen and Company reiterated a “buy” rating and issued a $134.00 price target on shares of Harris Corporation in a report on Monday, October 2nd. ValuEngine cut shares of Harris Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Harris Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 price target on shares of Harris Corporation in a report on Thursday, September 21st.

Harris Corporation (NYSE HRS) traded down 0.17% during trading on Wednesday, hitting $135.84. 117,883 shares of the stock traded hands. The company has a market capitalization of $16.18 billion, a P/E ratio of 26.53 and a beta of 1.18. The company’s 50 day moving average is $127.25 and its 200 day moving average is $115.89. Harris Corporation has a one year low of $88.89 and a one year high of $136.63.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Thursday, September 7th. This is a boost from Harris Corporation’s previous quarterly dividend of $0.53. Harris Corporation’s payout ratio is 51.47%.

ILLEGAL ACTIVITY WARNING: “Harris Corporation (HRS) Receives Average Recommendation of “Buy” from Brokerages” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/11/harris-corporation-hrs-receives-average-recommendation-of-buy-from-brokerages.html.

In other news, insider Christopher D. Young sold 4,070 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $118.93, for a total transaction of $484,045.10. Following the sale, the insider now owns 46,131 shares in the company, valued at approximately $5,486,359.83. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Scott T. Mikuen sold 13,600 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $123.36, for a total transaction of $1,677,696.00. Following the sale, the senior vice president now owns 61,349 shares in the company, valued at approximately $7,568,012.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,357 shares of company stock worth $8,643,111. Company insiders own 1.91% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. First National Bank of Mount Dora Trust Investment Services boosted its holdings in shares of Harris Corporation by 1.8% during the 3rd quarter. First National Bank of Mount Dora Trust Investment Services now owns 54,455 shares of the communications equipment provider’s stock valued at $7,170,000 after buying an additional 945 shares in the last quarter. Eqis Capital Management Inc. boosted its holdings in shares of Harris Corporation by 9.7% during the 3rd quarter. Eqis Capital Management Inc. now owns 6,658 shares of the communications equipment provider’s stock valued at $877,000 after buying an additional 586 shares in the last quarter. Burgundy Asset Management Ltd. boosted its holdings in shares of Harris Corporation by 1.6% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,287,891 shares of the communications equipment provider’s stock valued at $140,483,000 after buying an additional 20,765 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Harris Corporation by 23.1% during the 2nd quarter. Toronto Dominion Bank now owns 41,329 shares of the communications equipment provider’s stock valued at $4,507,000 after buying an additional 7,747 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in shares of Harris Corporation by 1.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,875 shares of the communications equipment provider’s stock valued at $205,000 after buying an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 84.99% of the company’s stock.

About Harris Corporation

Analyst Recommendations for Harris Corporation (NYSE:HRS)

Receive News & Ratings for Harris Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harris Corporation and related companies with MarketBeat.com's FREE daily email newsletter.